Union Budget 2024: There is an atmosphere of disappointment in the market on the first general budget of the third term of the Modi government.
As soon as the budget speech ended, the Sensex fell by more than a thousand points. Although it recovered later, it is still down by more than 600 points. Nifty is also down by more than 200 points.
The market was expecting that the government would show more generosity towards industries and give relief in GST. But this relief was limited to gold-silver and some special medicines.
Apart from this, not much relief has been given in income tax either. That means the middle class will not have much money left. That means there will not be much money to spend. The government has focused on the social sector. But no major announcement was made in railways and defense.
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