Budget 2024 | Sustained capex push crucial, says Mihir Vohra
Mihir Vora, Chief Investment Officer at Trust Mutual Fund, discussed his expectations from Budget 2024 with a special emphasis on capital expenditure (capex).
Finance Minister Nirmala Sitharaman is set to present her sixth budget under the PM Narendra Modi-led administration on February 1. Since the Lok Sabha elections are scheduled in the summer of 2024, the upcoming budget will be a vote-on-account or an interim budget.
In an interview with CNBC-TV18, Mihir Vora, Chief Investment Officer at Trust Mutual Fund, shed light on the significance of ongoing capital expenditure (capex) trends.
Vora emphasised the remarkable growth in capex, particularly in the construction sector, with a staggering 30% increase over the last three years. However, as the nation enters an election year, Vora will closely watch the capital expenditure outlook, given the prevailing focus on subsidies and revenue expenditure.
Image Source: The Indian Economy: A ReviewFormer Secretary of Finance SC Garg shared insights on the expected budgetary focus, predicting a substantial emphasis on direct benefit transfers, including cash handouts to specific demographics such as women, youths, and farmers.
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Meanwhile, reflecting on the government's past focus on capital expenditure (capex), Garg believes that there could be a notable increase of around 25% for crucial sectors such as railways, roads, highways, and defence. This strategic investment is seen as a winning point for the government's economic agenda.
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
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