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As the <keyword id="19938590" type="General" weightage="100" keywordseo="NDA" source="keywords">NDA</keyword> is all set to form the government, <keyword id="19949381" type="General" weightage="20" keywordseo="Fitch-Ratings" source="keywords">Fitch Ratings</keyword> on Thursday said <keyword id="21935526" type="General" weightage="20" keywordseo="coalition-politics" source="keywords">coalition politics</keyword> and a <keyword id="21957811" type="General" weightage="20" keywordseo="weakened-mandate" source="Orion">weakened mandate</keyword> could make it challenging to pass legislations on ambitious reforms. "We believe major reforms to land and labour laws will remain on the new government's agenda as it seeks to enhance India's manufacturing sector, but these have long been contentious and the NDA's weaker mandate will complicate their passage further. This could reduce the potential upside to India's medium-term growth prospects," <keyword id="19950093" type="General" weightage="20" keywordseo="fitch" source="keywords">Fitch</keyword> said in a statement. The <keyword id="19894848" type="General" weightage="20" keywordseo="bjp" source="keywords">BJP</keyword> fell short of a single-party majority in the 543-seat lower house of parliament for the first time since its latest period in government that began in 2014. But Fitch expects it to secure enough support from allied parties in the National Democratic Alliance (NDA) to form a government with Narendra Modi remaining Prime Minister. The outcome should support broad policy continuity, with the government continuing to prioritise infrastructure capex, improvements to the business environment, and gradual fiscal consolidation, Fitch Ratings said. "However, coalition politics and a weakened mandate could make it challenging to pass legislation on the more ambitious parts of the <keyword id="21957445" type="General" weightage="20" keywordseo="government-reform" source="keywords">government reform</keyword> agenda," it said in a detailed note post the Lok Sabha election results which were announced late on Tuesday. The NDA appears set to retain power with a narrower majority after India's recent election, following a weaker performance by its dominant member, the Bharatiya Janata Party (BJP). "We do not think that the government's losses at the ballot box will lead to substantial policy adjustments, but the post-election budget in July should provide greater clarity on its economic reform priorities and fiscal plans over the coming five years," Fitch said. It said implementation of <keyword id="20404815" type="General" weightage="20" keywordseo="economic-reforms" source="keywords">economic reforms</keyword> during the first two NDA terms was mixed, but some positive measures were passed including the Goods and Services Tax (GST) law and Bankruptcy Code in 2016. The government also increased public infrastructure investment significantly, helping to put India among the fastest-growing major economies in recent years, with real GDP growth reaching 8.2 per cent in the fiscal year ending March 2024 (FY24). Fitch expects growth to remain rapid at 7 per cent in current fiscal (April-March). "We expect India's medium-term growth performance to remain around our trend estimate of 6.2 per cent through FY28, despite the government's slimmer majority. The continued public capex drive to address infrastructure gaps, ongoing digitalisation efforts, and improved bank and corporate balance sheets - relative to the pre-pandemic situation - should facilitate a strong outlook for private investment," Fitch said. The rating agency expects the Production-Linked Incentives (PLI) scheme to remain intact, which will help attract FDI in target sectors, such as electronics. However, private investment has not yet accelerated meaningfully, which represents a risk for the outlook. Fitch believe land and labours laws reforms will continue to advance at the state level in some parts of the country. There is also some potential for judicial reforms that would look to lower costs and speed resolution of court cases. Weaker fiscal metrics relative to peers are a significant constraint for India's sovereign rating, which we affirmed at 'BBB-' with a Stable Outlook in January 2024. "The next government's ability to address high fiscal deficits and reduce debt will be important considerations for the rating in the next few years. "Sustained deficit reduction, particularly if underpinned by durable revenue-raising reforms, would be positive for India's sovereign rating fundamentals over the medium term," Fitch added. The government has improved its record on achieving deficit targets and has advanced fiscal consolidation gradually over the past few years. We expect this focus on gradual consolidation to broadly be sustained. The FY24 budget deficit came in at 5.6 per cent of GDP, below the revised budget estimate of 5.8 per cent (which matched Fitch's estimate). Fitch expects the 5.1 per cent deficit target for FY25 to be attained, and said government's goal of reducing the deficit to 4.5 per cent of GDP in FY26 appears increasingly achievable, although the election marginally increased risks of higher spending or slippage in capex to accommodate greater social spending.

Coalition politics, weakened mandate could make passing legislations on ambitious reforms challenging: Fitch

New Delhi [India], June 4 (ANI): With counting progressing in <keyword id="19912155" type="General" weightage="20" keywordseo="Lok-Sabha-polls" source="keywords">Lok Sabha polls</keyword>, the Bharatiya Janata Party-led <keyword id="20344628" type="General" weightage="20" keywordseo="National-Democratic-Alliance" source="keywords" meta.keywordsubtype="org" meta.entityname="National Democratic Alliance" meta.hostid="261" meta.entityid="National Democratic Alliance">National Democratic Alliance</keyword> is leading on more than 100 seats as per the latest trends according to TV channels. Around 642 million people voted in Lok Sabha elections held over seven phases in a mammoth six-week period. The counting of votes began starting with postal ballot papers amid tight security. The counting for State Legislative Assemblies of 175 Assembly constituencies in Andhra Pradesh and 147 Assembly constituencies in Odisha and results of bypolls in 25 Assembly constituencies also began. The Lok Sabha elections for 543 seats of the lower house were held across seven phases. The <keyword id="19931558" type="General" weightage="20" keywordseo="Bharatiya-Janata-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharatiya Janata Party" meta.hostid="261" meta.entityid="Bharatiya Janata Party">Bharatiya Janata Party</keyword> is eyeing a third straight term in power, while the Opposition under the umbrella of the <keyword id="19895684" type="General" weightage="20" keywordseo="INDIA-bloc" source="keywords" meta.keywordsubtype="org" meta.entityname="INDIA bloc" meta.hostid="261" meta.entityid="INDIA bloc">INDIA bloc</keyword> is seeking to wrest power from the ruling party.Most exit polls predicted a straight term for Prime Minister Narendra Modi, with quite few of them projecting a two-thirds majority for the ruling BJP-led National Democratic Alliance (<keyword id="41281" type="General" weightage="20" keywordseo="NDA" source="Orion">NDA</keyword>). The Congress party and its allies dismissed the exit polls as "orchestrated" and a work of "fantasy", asserting that the opposition INDIA bloc will form the next government at the Centre. Strict security has been put in place for the smooth conduct of counting of votes for over 8,000 candidates in this general election. With counting began for the Lok Sabha elections, which have seen the largest voter participation, the electoral fate of several leaders across the political spectrum will be decided. Prime Minister Narendra Modi, Home Minister Amit Shah, and Defence Minister Rajnath Singh are among the senior BJP leaders in the fray. Key opposition leaders, including former Congress chief Rahul Gandhi, NCP's Supriya Sule, and Samajwadi Party chief Akhilesh Yadav, are also contesting the poll. Two polls predicted the BJP would also improve its numbers from the 303 seats it won in the 2019 Lok Sabha polls. In the 2019 elections, NDA wrested 353 seats, of which the BJP won 303 alone. The Opposition's UPA got only 93 seats of which the Congress got 52. Even before the counting of the votes, the Bharatiya Janata Party won one seat of Surat Lok Sabha. Earlier on April 22, Mukesh Dalal won the election "unopposed". Congress nominee Nilesh Kumbhani's nomination was rejected. His candidacy was rejected because of alleged discrepancies in the signatures of the proposers.

Lok Sabha election results: BJP-led NDA leading in 100 plus seats in early trends

New Delhi [India], June 5 (ANI): The Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="bjp" source="keywords">BJP</keyword>)-led National Democratic Alliance (<keyword id="19938590" type="General" weightage="20" keywordseo="NDA" source="keywords">NDA</keyword>) secured a majority in the general elections, securing a third term for Prime Minister Narendra Modi. This victory indicates continuity in policy, particularly in <keyword id="21785272" type="General" weightage="20" keywordseo="infrastructure-spending" source="keywords">infrastructure spending</keyword> and boosting domestic manufacturing, which are expected to support robust <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>. However, the NDA's slim margin of victory and the BJP's loss of an outright majority in parliament may slow down more extensive economic and fiscal reforms, potentially impeding <keyword id="20101140" type="General" weightage="20" keywordseo="fiscal-consolidation" source="keywords">fiscal consolidation</keyword> efforts. In fiscal 2023-24, India's real GDP accelerated to 8.2 per cent from 7.0 per cent the previous year, driven by significant gains in gross fixed capital formation as the government's infrastructure programs gained momentum, even as private consumption remained subdued. <keyword id="20227907" type="General" weightage="20" keywordseo="Moodys" source="keywords" meta.keywordsubtype="org" meta.entityname="Moody's" meta.hostid="261" meta.entityid="Moody's">Moody's</keyword> projects India's economic strength to continue, with an anticipated real <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> of around 7 per cent over the three-year period from fiscal 2023-24 to 2025-26. This growth is expected to benefit from ongoing infrastructure development and digitalization efforts. Despite this outlook, structural weaknesses pose risks to long-term growth potential. High youth unemployment and low productivity growth in the agriculture sector constrain economic expansion. The agricultural sector's modernization has been stalled by political challenges, as evidenced by the repeal of key reforms in 2021 following widespread farmer protests. Additionally, gains in manufacturing have been uneven, limiting labour force diversification away from agriculture, which still accounts for 40 per cent of total employment. Foreign direct investment (FDI) inflows have declined over the past three years, despite a favourable geopolitical climate amid US-China tensions. This trend suggests persistent constraints within India's investment climate. To address these challenges, further structural reforms and enhanced implementation of existing initiatives, such as the production-linked incentive schemes to promote manufacturing, calibrated liberalisation of cross-border trade, and reconsideration of labour reforms, are necessary. The government's focus on fiscal consolidation is expected to continue, but significant improvements in debt ratios and interest servicing have yet to be realised. Since the trough in fiscal 2020-21, the central government's deficit has likely narrowed for three consecutive years. The interim budget for fiscal 2024-25 projects a deficit of around 5 per cent of GDP, aiming for a 4.5 per cent deficit by fiscal 2025-26. However, India's fiscal consolidation post-pandemic has not outpaced other emerging markets in Asia-Pacific, and its fiscal and debt metrics remain weaker than those of Indonesia, the Philippines, Thailand, and other Baa-rated peers globally. India's general government debt is projected to stabilise above 80 per cent of GDP over the next three years, compared to 70.5 per cent in fiscal 2018-19. General government interest payments are forecast to fall to around 24 per cent of general government revenue over the next two years, down from over 28 per cent in fiscal 2020-21, but still higher than the pre-pandemic ratio of less than 23 per cent. While increased budgetary allocations for infrastructure indicate an improvement in spending quality, debt servicing remains a significant portion of expenditure, reflecting ongoing constraints on fiscal flexibility. This situation underscores the need for the incoming government to balance fiscal consolidation with growth-supportive measures. The upcoming final budget for the fiscal year ending March 2025 will provide further insights into India's fiscal policy direction through 2029. As the Modi administration embarks on its third term, the focus will likely remain on sustaining economic growth while addressing the persistent <keyword id="21500054" type="General" weightage="20" keywordseo="fiscal-challenges" source="keywords">fiscal challenges</keyword> that hinder India's long-term economic potential.

Modi 3.0 will offer policy continuity, but BJP's loss of outright majority may slow down fiscal reforms: Moody's

The votes are in, the election commission is armed, and tallies are finally being made. As lakhs of viewers tune into their news to update themselves, many are coming away shocked at the current standings. Despite confident promises of capturing 400 of the 543 Indian seats, the Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords">BJP</keyword>) has barely won a dozen or two seats more than the halfway mark of 272, as per the initial few rounds of counting. This is still an impressive position to be in, and certainly enough to help the BJP-led <keyword id="105903" type="General" weightage="20" keywordseo="national-democratic-alliance" source="Orion">National Democratic Alliance</keyword> (<keyword id="19938590" type="General" weightage="20" keywordseo="NDA" source="keywords">NDA</keyword>) make another term. However, the overwhelming, yet lukewarm, support has inadvertently deflated the ‘Abki baar 400 paar’ chant echoed by the party throughout its campaigning. Further, this comes mere days after Uttar Pradesh Chief Minister Yogi Adityanath called the slogan the ‘common man’s mantra’. <cmsannotation type="cmsannotation" annotationid="Exit polls gone wrong" comment="subhead" text="Exit polls gone wrong"><keyword id="21129157" type="General" weightage="20" keywordseo="exit-polls" source="keywords">Exit polls</keyword> gone wrong</cmsannotation> Party conjecture aside, most exit polls had also predicted a landslide victory for the NDA, with some even predicting the party crossing the 400 marks, helping the alliance comfortably bring in a third term for current Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>. However, Congress leaders staunchly dismissed these findings, asserting that the <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">INDIA</keyword> alliance will achieve at least over 250 seats this election. While exit polls have exercised a notoriously patchy reputation for delivering inaccurate findings in the past, the surveys might have gotten it wrong far more than usual this time around. For instance, the BJP has been predicted to win 400 seats by News 24-Today’s Chanakya poll, 358 as per Times Now-ETG, 392 per India V-CNX. <table class="redcator-table-advance" style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 955.049px; font-family: Merriweather; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"><tbody><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;"> </td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">NDA</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">INDIA</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Others</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Times Now - ETG </td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">358</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">152</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">33</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Matrize - Republic</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">361</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">126</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">56</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Jan Ki Baat - NDTV </td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">377</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">151</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">15</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">PMARQ - Republic</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">359</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">154</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">30</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">India News - D-Dynamics</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">371</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">125</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">47</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Today's Chanakya - News24</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">400</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">107</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">36</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">India TV</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">386</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">124</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">33</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Poll of polls</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">369</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">143</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">31</td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> However, the Modi-led alliance has yet to cross the 300 mark. If this trend holds, a majority government will form with BJP-led NDA acquiring slightly below 300 seats, almost mirroring exact forecasts by on-ground reporters and some political experts. However, this is quite in contrast with almost all exit polls this election season. If the scorecard settles at the current mark, this will end up becoming the poorest performance for NDA since their historic win in 2014. The alliance came to power after winning an overwhelming 336 seats in 2014, and 353 seats in 2019. However, the main point of shock has come from the performance of Congress and the INDIA bloc, who have maintained a steadfast 200+ seats since the initial polling rounds. Out of the nine odd exit polls that came out with results recently, none had predicted the INDIA bloc to win over 150-170 seats. As the tallying moves into its final phases, let’s look at how exit polls performed in the previous election cycles. <cmsannotation type="cmsannotation" annotationid="2014 elections" comment="subhead" text="2014 elections">2014 elections</cmsannotation> In 2014, 834 million voters participated in the largest-ever elections worldwide — only to be surpassed by the 2019 <keyword id="19895394" type="General" weightage="100" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> elections. An average of eight exit polls had indicated that the BJP would see a 283-seat victory, while the opposition would have had to settle for 105 seats. Just as predicted, the BJP saw a landslide victory and swooped in 282 of the 543 seats, with a vote percentage of 31.3%. This win was a huge blow to the INC, which only won 44 seats compared to the 206 in 2009. Since a party must win at least 55 seats to become an official opposition party in India, the Congress’s defeat meant that there was no official opposition party for India. <cmsannotation type="cmsannotation" annotationid="2019 elections" comment="subhead" text="2019 elections">2019 elections</cmsannotation> The previous Lok Sabha elections turned out to be an even bigger win for the BJP! In 2019, exit polls had predicted that the BJP-led National Democratic Alliance would peak at 306 and that the INC-led United Progressive Alliance (UPA) would win just 120. However, the post-poll statistics turned out to be underwhelming. The BJP won a whopping 37.36% of the vote — the highest by a political party since the 1989 general elections. It won 303 seats, while the NDA collectively won 352 seats. It was another crushing defeat for the Congress, which won just 52 seats, failing to claim the post of Leader of the Opposition once again.

Trends indicate INDIA maintaining 200+ seats, defying all exit poll predictions; how accurate have these surveys been since 2014?

In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

The first full budget of the BJP-led NDA government in its third successive term will be presented by <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> on July 23. The government on Saturday announced the dates of the budget session of Parliament which will start on July 22 and conclude on August 12. Finance Minister Nirmala Sitharaman, who will present the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024-25, has been holding pre-budget consultations. As part of the deliberations, she has met economists, experts in finance and capital markets, industry representatives and agriculture experts. Industry bodies, including the Confederation of Indian Industry (CII), have urged the government to increase capital expenditure in the upcoming budget. This will be Sitharaman's seventh budget in a row. She will be the first Union Finance Minister to present seven consecutive union budgets. Former Prime Minister Morarji Desai had presented six budgets in a row. Parliamentary Affairs Minister Kiran Rijuju announced the dates of budget session. "Hon'ble President of India, on the recommendation of the Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July 2024 to 12 August 2024 (Subject to exigencies of Parliamentary Business). Union Budget, 2024-25 will be presented in Lok Sabha on 23 July 2024," he posted on X. The <keyword id="19916814" type="General" weightage="20" keywordseo="Modi-government" source="keywords" meta.keywordsubtype="org" meta.entityname="Modi government" meta.hostid="153" meta.entityid="Modi government">Modi government</keyword> had presented an interim budget in February this year. Sitharaman had announced in the interim budget that the capital expenditure outlay for the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be 3.4 per cent of the GDP. The government had also announced that Rs one lakh crore corpus will be established with five-year interest free loan for youth. Newly-elected Lok Sabha members took oath in the first session of 18th Lok Sabha held from June 24 to July 2 following the results of the general elections. President Droupadi Murmu addressed the joint sitting of two Houses on June 27 and both Lok Sabha and Rajya Sabha adopted a motion of thanks on the President's address. Prime Minister Narendra Modi replied to the debate on the motion of thanks in the two Houses of Parliament. BJP-led National Democratic Alliance returned to power for the third successive term in the general elections.

FM Nirmala Sitharaman to present first budget of Modi 3.0 on July 23

A day after <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> leader <keyword id="19895780" type="General" weightage="100" keywordseo="Rahul-Gandhi" source="keywords">Rahul Gandhi</keyword>'s remarks in the <keyword id="19895397" type="General" weightage="20" keywordseo="Parliament" source="keywords">Parliament</keyword> created a political uproar, <keyword id="19905334" type="General" weightage="20" keywordseo="Shiv-Sena" source="keywords">Shiv Sena</keyword> (UBT) leader <keyword id="19905333" type="General" weightage="20" keywordseo="Sanjay-Raut" source="keywords">Sanjay Raut</keyword> backed his words stating that the leaders of the INDIA bloc do not align with the "fake <keyword id="19935821" type="General" weightage="20" keywordseo="Hindutva" source="keywords">Hindutva</keyword>" portrayed by the Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords">BJP</keyword>). "Yesterday, Rahul Gandhiji said that Hindutva is not equal to the BJP. Hindutva does not promote spreading hatred. We do not align with the fake Hindutva portrayed by the BJP", Raut said while addressing the media here in the national capital on Tuesday. Falling in line with Rahul Gandhi's remarks, the Shiv Sena (UBT) leader further added that the former said in the Parliament that 'Hindutva' is a much wider term. "He did not say anything wrong about the Hindus. Those who consider themselves Hindus should hear again that Rahul Gandhiji had said that 'Hindutva' is a much wider term and the Bharatiya Janata Party (BJP) won't understand this", he said. On Monday, Rahul Gandhi's maiden speech in <keyword id="19895394" type="General" weightage="20" keywordseo="Lok-Sabha" source="keywords">Lok Sabha</keyword> as Leader of Opposition in Lok Sabha generated a lot of political heat with BJP leaders accusing him "of speaking lies, misleading the House and terming the entire Hindu community violent" and the Congress hitting back with counter allegations against the <keyword id="19916814" type="General" weightage="20" keywordseo="Modi-government" source="keywords" meta.keywordsubtype="org" meta.entityname="Modi government" meta.hostid="261" meta.entityid="Modi government">Modi government</keyword>. The two Houses took up the debate on the motion of thanks on the President's address with PM Modi slamming Rahul Gandhi during his speech. "Calling the entire Hindu community violent is a very serious matter," PM Modi said. Home Minister Amit Shah demanded an apology from Rahul Gandhi. While the BJP held a press conference later to denounce Rahul Gandhi's remarks, Congress also held an evening presser to slam the ruling party at the Centre. Rahul Gandhi launched a multi-pronged attack on the BJP targeting it over its remarks during the Lok Sabha campaign, the NEET-UG controversy, <keyword id="20611113" type="General" weightage="20" keywordseo="Agniveer-scheme" source="keywords">Agniveer scheme</keyword>. Participating in the debate on the Motion Of Thanks on the President's Address, Rahul Gandhi targeted the BJP-led government over the Agniveer scheme and claimed that Agniveer is not called a 'jawan' and said that Agniveers serving for a period of four years will not get a pension. "One Agniveer lost his life in a landmine blast but he is not called a 'martyr'... 'Agniveer' is a use and throw labourer," Rahul Gandhi alleged, attacking the BJP-led NDA government over the scheme," he had said. He also called the Hindu symbol 'Abhayamudra' which gestures fearlessness, reassurance and safety, as the symbol of the Congress party. "Abhayamudra is the symbol of Congress...The Abhayamudra is the gesture of fearlessness, is the gesture of reassurance and safety, which dispels fear and accords divine protection and bliss in Hinduism, Islam, Sikhism, Buddhism and other Indian religions...All our great men have spoken about non-violence and finishing fear...But, those who call themselves Hindu only talk about violence, hatred, untruth...Aap Hindu ho hi nahi," the Congress leader said. "It is written in the Hindu religion; do not shy away from the truth, stand with the truth", he added. Gandhi's remarks witnessed brickbats from the BJP leaders as they accused the Congress leaders of "spreading lies" and demanded an apology from his side. Meanwhile, PM Modi will deliver his reply to the Motion of Thanks on the President's address in the lower house of Parliament later today. JP Nadda, MoS Jadhav Prataprao Ganpatrao, Jitin Prasada, Union Minister Ramdas Athawale, Ram Nath Thakur, Nityanand Rai, Satya Pal Singh Baghel, Shobha Karandlaje, BL Verma, L Murugan, Ajay Tamta, Kamlesh Paswan, Ravneet Singh will lay papers on the table in Lok Sabha today.

You Searched For "NDA government" and got 7 results

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India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

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FM Nirmala Sitharaman to present first budget of Modi 3.0 on July 23

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"We do not align with fake Hindutva portrayed by BJP": Sanjay Raut backs Rahul Gandhi's remarks in Parliament

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