Interim Budget 2024-25

Fiscal Deficit Targets:

  • FY25 fiscal deficit target set at 5.1% of GDP.
  • Revised FY24 fiscal deficit target down to 5.8% of GDP from the earlier 5.9%.
  • Fiscal deficit for the first nine months of FY24 stood at Rs.9.82 lakh crore or 55% of annual estimates.


  • FY25 capital expenditure set at Rs.11.1 lakh crore, up 11.1%.
  • FY25 total expenditure expected at Rs.30.80 lakh crore.
  • Revised estimate of total expenditure for FY24 is Rs.44.90 lakh crore.

Revenue and Borrowing:

  • FY24 revenue receipts are expected at Rs.30.03 lakh crore, higher than the Budget estimate.
  • FY25 gross market borrowing pegged at Rs.14.13 lakh crore, net borrowing at Rs.11.75 lakh crore.
  • FY25 gross tax receipt target at Rs.26.02 lakh crore.

Announcements for sectors

Railway Developments:

  • Conversion of 40,000 normal rail bogies to Vande Bharat for enhanced safety and passenger comfort.
  • Expansion of key rail infrastructure projects like Metro Rail and Namo Bharat to more cities.
  • Announcement of three major railway corridors: Port connectivity, energy-mineral-cement, and High traffic density.

Electricity Initiatives:

  • Roof-top solarisation to enable 10 million households to obtain up to 300 units of free electricity monthly.

Green Energy Commitments:

  • Viability gap funding for harnessing offshore wind energy potential.
  • Setting up coal gasification and liquefaction capacity of 100 MT by 2030.
  • Phased mandatory blending of compressed biogas in compressed natural gas.
  • Financial assistance for the procurement of biomass aggregation machinery.

Electric Vehicles (EV) Focus:

  • Strengthening the EV ecosystem through support for manufacturing and charging infrastructure.
  • Encouragement for greater adoption of e-buses for public transport networks.

Tourism Promotion:

  • States encouraged for comprehensive development of iconic tourist centers with global branding.
  • Establishment of a rating system based on facility and service quality.
  • Provision of long-term interest-free loans to states for financing tourism development.

FDI and Investment Promotion:

  • FDI inflow during 2014-23 was $596 billion, marking a golden era.
  • Negotiating bilateral investment treaties to encourage sustained foreign investment.

Technology and Ayushman Bharat:

  • Emphasis on new-age technologies and data for economic opportunities and affordable services.
  • Extension of Ayushman Bharat cover to all Anganwadi and Asha workers.

Housing and MSME Support:

  • Continued implementation of PM Awas Yojana (Grameen) with a target of three crore houses.
  • Policy priority to provide training for MSMEs to compete globally and facilitate their growth.

Agriculture and Food Processing:

  • Stepped up efforts for value addition in the agricultural sector to boost farmers’ income.
  • Schemes like Pradhan Mantri Kisan Sampada Yojana and PM Formalisation of Micro Food Processing Enterprises Yojana aid in reducing post-harvest losses and improving productivity and incomes.


We, the team of Research Analysts, author and the subscriber to this report, associated with the Goldmine Stocks Pvt Ltd (hereinafter referred to as “Goldmine”), hereby certify that all of the views expressed in this report accurately reflect our views about the subject / Counter, which is based on publicly available data and information. But we do not guarantee that such information is accurate or complete. And any opinions expressed in this report are subject to change without Prior notice. This Document/Report/Recommendations is published in the capacity of Research Analyst by Goldmine Stocks Pvt. Limited (hereinafter referred to as “Goldmine”) having SEBI Reg. No : INH000005625for private circulation and only for information Purpose and Goldmine do not solicit any trading or Investment advice via this document. The securities and strategies discussed and opinions expressed, if any, in this report may not be suitable for all investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of specific recipients. Goldmine is a Full Broking services provider in financial market and SEBI Registered Stock Broker with National Stock Exchange of India Limited, BSE Limited and Multi Commodity Exchange of India (MCX).It is also having registration as a Depository Participant with NSDL & CDSL.(SEBI Reg. No : INZ000182938)Goldmine or its Associates or Research Analysts or his/her associates or his/her relatives has any financials interest in the subject companies: No Goldmine or its Associates/relatives and/or Research Analysts or his/her associates or his/her relatives, have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of the research report or the public appearance: No Goldmine or its Associates/relatives and/or Research Analysts or his/her associates or his/her relatives have any other material conflict of interest at the time of publication of the research report or at the time of public appearance: No Goldmine or its Research Analyst or their associates, Directors or employees have not received any compensation or any other benefits, at any time or in the past twelve months, from the subject company covered by Analyst or from third party in connection with the research report or for managing or co-managing public offering of securities or for brokerage services or for products or services other than brokerage services from the subject company. It is confirmed that the subject company is or was not a client during twelve months preceding the date of distribution of the research report. It is also confirmed that Goldmine and or Research Analysts has not been engaged in market making activity for the subject company and the Research Analysts has not serve or is not serving as an officer, director or employee or advisory board member of the subject companies. The subject company is or was not a client during twelve months preceding the date of distribution of the research report.“ Goldmine and its Associates, Directors, Research Analyst may have some other interests or holdings like ‘Long or short positions’ in securities recommended in this report as its ordinary course of business as a distinct and independent body.” Apart from this, Goldmine or its associates or Research Analyst or his/her relatives do not have any other conflict or material conflict of interest at the time of publication of the research report with the company covered by Analysts. Goldmine may have issued other reports that are inconsistent or contrary to views issued in this report. This report or recommendations are not directed or intended for distribution or use by any person or entity that is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Goldmine reserves the right to make modifications and alterations to this statement as may be required from time to time. Goldmine or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Goldmine is committed to providing independent and transparent recommendation to its clients. Neither Goldmine nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance. The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. There were no instances of non-compliance by Goldmine on any matter related to capital markets, in significant & material disciplinary action during the last three years. Analyst Certification: The analyst for this report certifies that all the views expressed in this report accurately reflects his/her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be directly or indirectly related to specific recommendations or views expressed in this report. Any feedback or suggestions can be written to our official mail

Leave a Reply

Your email address will not be published. Required fields are marked *