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Domestic cyclicals key gainers from the infra push in the Budget

Street is bearish on exporters while there is a mixed opinion on the consumption basket

Illustration: Ajay Mohanty
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Illustration: Ajay Mohanty

Ram Prasad Sahu Mumbai
The Union Budget for FY24 ticked all the right boxes, sticking to its ongoing focus on spending-led growth, staying on the path of fiscal consolidation and shunning outright populism. This, coupled with tax breaks, had a positive impact on the markets with the Sensex closing marginally in the green after a volatile session.

The overarching emphasis on infrastructure with a sharply higher allocation than what the Street was working with was the biggest takeaway from the Budget. Capital expenditure (capex) on infrastructure was up 33 per cent to Rs 10 trillion; this is the third consecutive year where the investment

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