New Delhi: India’s two largest stock indices, Sensex and nifty, took a hit on Thursday as the US Fed’s decision to maintain interest rates without clear guidance on future cuts dampened investor sentiment.
The Sensex index settled at 71,645.30 points, down 106.81 points or 0.15 per cent, while the nifty index fell to 21,697.45 points, down 28.25 points or 0.13 per cent.
In light of recent market fluctuations, many investors are concerned about the potential for significant declines in stock indices. Understanding the factors that contribute to these changes is crucial for making informed investment decisions.
The government presented its Interim Budget for 2024-25 in the legislature today. The budget aims to provide a boost to the real economy while also keeping a check on inflation. The government will increase capital expenditure by 11.1 per cent to Rs 11.11 lakh crore in 2024-25, amounting to 3.4 per cent of the GDP.
The government expects the fiscal deficit of 2024-25 to be 5.1 per cent of gross domestic product (GDP), down from 5.9 per cent of GDP in the 2023-24 fiscal year. The government has also revised its fiscal deficit target for 2023-24 to 5.8 per cent of GDP. The government has decided to not impose any additional tax burden on citizens in the budget. The budget has also given an extension of the tax holiday scheme for start-ups.
The government has also decided to invest in infrastructure development to boost the economy. The intention of the government is to create employment opportunities for the people. The government has also allocated funds for the health sector, education, and skills development.