Budget 2025: Insurance Stocks Plunge Although FDI Limit Increased

Finance Minister Nirmala Sitharaman, in her Budget 2025 speech, announced an increase in the foreign direct investment (FDI) limit for the insurance sector from 74% to 100%. The change applies to insurers that reinvest the entire premium collected within India. The government aims to attract more foreign capital and increase insurance penetration in the country.

Immediate Market Impact

Shares of major Indian insurance companies like HDFC Life, SBI Life, and ICICI Prudential Life saw sharp declines of up to 6% today, on Saturday, February 1, despite an initial rally. The stocks had gained over 3% earlier in the session after the government announced an increase in the Foreign Direct Investment (FDI) limit to 100% from 74%. LIC, Go Digit Insurance, Max Financial, ICICI Lombard and New India Assurance also traded higher following the announcement.

However, the momentum reversed after the Budget proposed higher tax exemptions under the new tax regime, making income up to ₹12 lakh tax-free through rebates. Since the tax new regime creates concerns. ICICI Prudential fell 3.9% to ₹592.55, HDFC Life dropped 4.4% to ₹609.9, and SBI Life declined 6% to ₹1,396.

Industry Background

India’s insurance sector consists of 24 life insurers, 26 general insurers, six standalone health insurers, and one reinsurer- General Insurance Corporation. Over the years, the government has gradually increased the FDI limit in the sector. 

It was raised from 26% to 49% in 2015, then to 74% in 2021, and now to 100%.

Growth in FDI Inflows

The insurance sector has been among the top recipients of FDI in India’s service industry. However, insurance penetration in India remains lower than in many other countries. The increased FDI limit is expected to bring in more foreign investment, which could help insurers expand their operations.

Foreign Investment 

As of the December quarter, foreign shareholding in major insurance companies varied significantly. HDFC Life had the highest foreign holding at 25.14%, followed by ICICI Lombard at 24.36%. ICICI Prudential and SBI Life reported lower foreign stakes at 12.78% and 22.48%, respectively.

The insurance sector has seen multiple FDI limit revisions over the years. In the 2021 Budget, the cap was raised from 49% to 74%, allowing greater foreign participation. With the latest increase to 100%, the sector will be interesting to watch.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Budget 2025: Kisan Credit Card Loan Limit Increased to ₹5 Lakh

The Union Budget 2025 has introduced significant measures to strengthen the agricultural sector, with a notable enhancement of the Kisan Credit Card (KCC) scheme. The government has raised the KCC loan limit from ₹3 lakh to ₹5 lakh, aiming to provide farmers with greater access to affordable credit. This initiative is anticipated to support farmers in adopting modern agricultural practices and improving their livelihoods.

Enhancement of the Kisan Credit Card Scheme

The Kisan Credit Card scheme, established in 1998, has been instrumental in providing timely credit to farmers for their agricultural needs. The recent increase in the loan limit to ₹5 lakh reflects the government’s commitment to addressing the evolving financial requirements of the farming community. This adjustment is expected to enable farmers to invest in advanced farming equipment, quality seeds, fertilisers, and efficient irrigation systems, thereby enhancing crop yields and income.

Anticipated Benefits for the Agricultural Sector

The enhancement of the KCC loan limit is poised to yield several benefits for the agricultural sector. Firstly, it is expected to reduce farmers’ dependence on informal lending sources, which often come with exorbitant interest rates, thus alleviating their financial burden. Secondly, with increased access to formal credit, farmers can adopt modern agricultural practices, leading to improved productivity and sustainability. Additionally, this move is likely to stimulate rural economic growth by increasing farmers’ purchasing power, thereby boosting demand in rural markets.

Conclusion

The government’s decision to raise the Kisan Credit Card loan limit to ₹5 lakh in the Union Budget 2025 signifies a strategic effort to empower farmers financially. By facilitating greater access to affordable credit, this initiative aims to enhance agricultural productivity, improve farmers’ livelihoods, and stimulate overall rural economic development.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Budget 2025: Customs Duty Waived on 36 Life-Saving Drugs

The government has removed customs duty on 36 life-saving medicines, Finance Minister Nirmala Sitharaman announced while presenting the Union Budget 2025-26. This is aimed at reducing the cost of treatment for patients suffering from cancer and rare diseases. In addition to this, customs duty has also been waived on raw materials used to manufacture these drugs.

Additional Concessions

Along with the complete duty exemption on 36 medicines, six more life-saving drugs will now be subject to a reduced customs duty of 5%. The government has also exempted medicines provided under 13 patient assistance programs from basic customs duty, making treatments accessible to those who rely on financial aid.

Impact on Cancer Treatment

Cancer treatment is expensive in India, and high import duties on medicines have been a major concern. According to the National Centre for Disease Control (NCDC), India saw 1.46 million new cancer cases in 2022. The exemption is expected to bring some relief to families struggling with treatment costs. Similarly, around 70 Million Indians are suffering from rare diseases in India.

Previous Duty Cuts

This announcement follows last year’s reduction of customs duties on three cancer medicines, Trastuzumab Deruxtecan, Osimertinib, and Durvalumab from 10% to nil. As per the reports, healthcare experts have been calling for further tax relief on cancer-related treatments, including radiotherapy machines, which still attract high duties.

Daycare Cancer Centres in District Hospitals

As part of its broader healthcare plan, the government has also proposed setting up 200 daycare cancer centres in district hospitals in 2025-26. These centres will provide chemotherapy, immunotherapy, and other essential treatments, reducing the need for patients to travel to major cities.

Medical Education and Healthcare Expansion

The government plans to add 10,000 medical seats next year and 75,000 seats over the next 5 years to address the shortage of healthcare professionals. There is also a push to promote medical tourism by improving infrastructure and specialised treatment facilities.

The customs duty exemption and other measures are expected to lower treatment costs and improve access to healthcare for patients across the country.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Will Phones, TVs, and Electronics Get Cheaper Post Budget 2025?

In an effort to strengthen India’s electronics manufacturing sector, Finance Minister Nirmala Sitharaman announced significant reductions in import duties on key components in the Union Budget 2025. These changes are expected to make mobile phones, smart TVs, and other electronic devices more affordable for consumers while improving India’s role in global supply chains.

One of the most significant reductions is in the Basic Customs Duty (BCD) on mobile phones, chargers, and printed circuit board assemblies (PCBAs), which has been cut from 20% to 15%. This move is expected to ease production costs and improve accessibility to high-end devices such as iPhones and flagship Android smartphones.

Understanding India’s Import Duties

Before delving into the implications of the new tax cuts, it’s essential to understand the various types of import duties levied in India:

  • Basic Customs Duty (BCD): The primary duty imposed on imported goods.
  • Additional Customs Duty: Imposed to equalise the excise duty on domestic goods.
  • Countervailing Duty (CVD): A tax to offset subsidies given to foreign manufacturers.
  • Anti-Dumping/Safeguard Duty: Applied to prevent unfair trade practices and protect local industries.
  • Other levies: Additional charges such as the Social Welfare Cess, Agriculture Infrastructure Development Cess (AIDC), and Integrated Goods and Services Tax (IGST).

These duties significantly impact the final cost of imported electronics. The latest reductions are expected to bring down manufacturing costs, indirectly leading to lower prices for end consumers.

Reduction in Duties for Mobile Phone Components

One of the biggest highlights of the Budget 2025 is the full exemption of customs duties on several mobile phone components. These include Printed Circuit Board Assemblies (PCBA),
Camera Modules, USB Cables and Fingerprint Readers

Previously, these components were taxed at 2.5%, but with the new exemptions, domestic manufacturers will see lower production costs, which could make smartphones, including iPhones, more affordable in India.

This policy is also in line with the Production Linked Incentive (PLI) scheme, which encourages global and domestic brands to set up manufacturing plants in India, reducing dependence on imports.

Impact on Smart TVs: What’s Changing?

For television manufacturers, the government has announced a full exemption of customs duties on open cells used in LED and LCD TV panels.

Exempting Customs Duties on Battery Materials 

Beyond electronics, the government has also prioritised electric vehicle (EV) manufacturing by exempting customs duties on critical battery materials.

Duty Exemptions Announced for: Cobalt Powder, Lithium-Ion Battery Scrap and 12 other critical minerals. These materials are crucial for the production of lithium-ion batteries, which power not only EVs but also smartphones, laptops, and other electronic devices.

With this move, the government aims to: Reduce dependence on imported batteries, Boost domestic EV production and Lower costs for electric 2-wheelers and e-wheelers. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Budget 2025 Boosts EV Adoption; Auto Stocks Like Maruti Suzuki Gain

Auto stocks surged on February 1, 2025, following the Union Budget 2025, which introduced measures aimed at accelerating electric vehicle (EV) adoption and strengthening infrastructure. Finance Minister Nirmala Sitharaman unveiled several initiatives to develop an ecosystem for solar PV cells and EV batteries, bolstering investor sentiment and driving gains across major auto stocks.

Maruti Suzuki Leads Gains Amid EV Plans

Maruti Suzuki’s share price rallied over 6%, benefiting from the Budget’s EV-focused incentives. The automaker is set to launch its first electric vehicle, the E-Vitara, under its premium NEXA brand in 2025. With a projected range of over 500 km and advanced safety features, Maruti’s entry into the EV market has heightened investor confidence. The stock also saw positive momentum from a 6.5% rise in January sales.

Mahindra & Mahindra Benefits from Local Battery Incentives

Mahindra & Mahindra (M&M), the best-performing Nifty 50 auto stock of 2024, gained over 3% by 2:13 PM, buoyed by incentives for local battery manufacturing. M&M’s focus on electric SUVs has kept the stock in an uptrend, further supported by 18% growth in domestic sales and nearly doubled exports in January. Hyundai Motor India also saw a 2% increase, expected to gain from similar Budget-driven advantages.

Tata Motors Faces Pressure Despite EV Leadership

While Tata Motors, India’s largest EV maker, has led the market in electric mobility, its stock declined over 1% following a dip in January sales. Despite its dominance in the sector, factors such as high battery costs and supply chain constraints continue to pose challenges.

Government’s E-Drive Scheme and Policy Outlook

The Prime Minister’s E-Drive scheme, backed by an ₹109 billion outlay, underscores India’s commitment to expanding EV adoption. The scheme aims to strengthen domestic EV manufacturing and charging infrastructure. However, obstacles such as high battery costs, reliance on imported components, and an inadequate charging network remain key concerns.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

HDFC Bank Share Price in Focus on Union Budget 2025

HDFC Bank continues to hold its position as the largest private sector bank in India in terms of both advances and deposits. As of Q2FY25, its net advances stood at ₹24,951 billion, demonstrating its strong lending capabilities. The bank maintains a vast retail presence with a market-leading share across multiple product categories. At the end of Q2FY25, HDFC Bank operated 9,092 branches and employed 2,07,000 people, underscoring its expansive reach and operational scale.

HDFC Bank Share Price Movement on Budget Day

On February 1, 2025, HDFC Bank’s share price exhibited high volatility in response to the Union Budget announcement. The stock:

  • Opened at ₹1,697.50
  • Made an intraday high of ₹1,713 
  • Dropped to an intraday low of ₹1,676.05
  • Was trading at ₹1,685 (-0.80%) at 1:54 PM

This fluctuation reflected market reactions to budget announcements, investor sentiment, and broader economic indicators.

Leadership Change at HDFC Bank

In a significant leadership development, Mr V. Chakrapani, who was appointed Group Head – Change Agent on April 1, 2024, is set to retire on January 31, 2025. Over a 30-year tenure, he played a crucial role in shaping the bank’s growth and expansion across diverse business lines. The bank acknowledged his instrumental contributions in driving strategic transformation initiatives.

HDFC Bank Q3FY25 Financial Performance

HDFC Bank posted a 2.2% year-on-year (Y-o-Y) increase in net profit to ₹16,735.50 crore for Q3FY25, despite slower core income growth and higher slippages from agricultural loans.

Key Financial Metrics

  • Net Interest Income (NII): ₹30,650 crore (+7.7% Y-o-Y)
  • Other Income: ₹11,450 crore (Flat Y-o-Y)
  • Mark-to-Market Gain on Investments: ₹70 crore (vs ₹1,470 crore in Q3FY24)
  • Net Interest Margin (NIM): 3.43%, unchanged Y-o-Y but lower than 3.5% in Q2

Provisioning and Asset Quality Trends

HDFC Bank saw an improvement in provisioning, but asset quality deteriorated:

  • Provisions and Contingencies: ₹3,150 crore (vs ₹4,220 crore in Q3FY24)
  • Gross Non-Performing Assets (GNPA): ₹36,019 crore (vs ₹34,251 crore in Q2FY25 and ₹31,012 crore in Q3FY24)
  • GNPA Ratio: 1.42% (vs 1.36% in Q2FY25 and 1.26% in Q3FY24)

The rise in non-performing assets (NPAs) signals increased stress in loan quality, particularly from the agriculture segment.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

CESC Expands Power Distribution Business with Chandigarh Acquisition

CESC Limited, a major player in India’s power distribution sector, has strengthened its market presence with a significant acquisition. Its wholly owned subsidiary, Eminent Electricity Distribution Limited (EEDL), has successfully acquired Chandigarh Power Distribution Limited (CPDL), marking a strategic expansion in the power sector.

Share price of CESC made an intraday high of ₹145.29 on NSE. At 1:45 PM, the stock price was down by 2.29 as on February 1, 2025. 

The Acquisition at a Glance

The acquisition follows the Chandigarh Electricity Reforms Transfer Scheme, 2025, which mandates the transfer of assets, liabilities, and personnel of the Electricity Wing of the Engineering Department, Chandigarh (EWEDC), to CPDL. This transition is set to take effect from February 1, 2025.

With this acquisition, CPDL will now operate under EEDL as a wholly owned subsidiary, making it a step-down subsidiary of CESC Limited.

Financial Details of the Transaction

  • Total Consideration: ₹871 crore
  • Form of Payment: Cash transaction
  • Equity Stake Acquired: 100%
  • Completion Date: Expected by February 1, 2025

The transaction has received the necessary approvals from the Administration of the Union Territory of Chandigarh, and the execution of the share purchase agreement finalises the process.

About Chandigarh Power Distribution Limited (CPDL)

CPDL was incorporated on April 23, 2022, and is licensed by the Joint Electricity Regulatory Commission under the Electricity Act, of  2003. It is responsible for the distribution and retail supply of electricity in the Union Territory of Chandigarh. With this transition, CPDL will officially commence business operations as a subsidiary of EEDL.

Strategic Rationale for the Acquisition

CESC has a long-standing presence in India’s power distribution market, and this acquisition aligns with its broader strategy of expanding its distribution footprint. The inclusion of Chandigarh into its portfolio strengthens its position as a key player in the regulated power distribution business.

This move also comes as part of India’s ongoing power sector reforms, which aim to enhance efficiency, ensure better service delivery, and attract private sector investment in electricity distribution.

Regulatory and Operational Impact

With the acquisition now formalised, CPDL will be integrated into CESC’s operational framework, ensuring a smooth transition of services for consumers in Chandigarh. The transfer of EWEDC’s assets, liabilities, and personnel to CPDL ensures continuity in service delivery.

Given that no related party transactions are involved, this acquisition stands as an independent expansion move by CESC, solely aimed at enhancing its distribution business.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Reliance Industries Share Price in Focus on Budget Day

Reliance Industries Limited (RIL) is India’s largest private-sector enterprise, with a diversified business portfolio spanning energy, petrochemicals, retail, and digital services. Originally founded in the late 1970s as a textile company, RIL has expanded through backward and vertical integration into polyester, fibre intermediates, plastics, petrochemicals, petroleum refining, and oil and gas exploration. This strategic approach has positioned RIL as a global leader, making it the world’s largest polyester yarn and fibre producer and one of the top 10 petrochemical producers globally.

Beyond hydrocarbons, RIL has a significant presence in retail, oil marketing, and digital services through its subsidiaries. The company has gained market leadership in India’s digital services and retail sectors, with both segments contributing substantially to its profitability.

Reliance Industries Share Price Movement on Budget Day

On Budget Day, February 1, 2025, the share price of Reliance Industries opened at ₹1,265.10, reflecting a near-flat movement compared to the previous trading session’s close. During intraday trade, the stock touched a high of ₹1,270.55 on the National Stock Exchange (NSE). However, by 1:26 PM, the stock had declined by 1.23%, trading at ₹1,250.10.

Reliance Industries Stock Performance: A Shift in Trend

For the first time in nearly a decade, Reliance Industries’ share price registered a negative return in CY2024, declining by almost 6%. Since 2015, the stock has been on an upward trajectory, delivering consistent returns to investors. However, market conditions, economic policies, and sectoral headwinds contributed to the downturn in 2024.

Despite the setback in the previous year, Reliance Industries has started CY2025 on a positive note, showing signs of recovery. As of February 1, 2025, the stock has gained nearly 3% year-to-date. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Budget 2025: Stocks Likely to Benefit from BharatNet’s Broadband Expansion

In her Union Budget 2025 speech, Finance Minister Nirmala Sitharaman announced a significant push for broadband connectivity in schools across India. The government aims to leverage the BharatNet project to expand high-speed internet to educational institutions, ensuring digital access for students even in the most remote regions. This move aligns with the broader vision of digital inclusion, potentially increasing opportunities for companies involved in broadband expansion and network services.

Atal Tinkering Lab Union Budget 2025

As part of the Union Budget 2025-26, Finance Minister Nirmala Sitharaman unveiled a significant initiative to strengthen STEM (Science, Technology, Engineering, and Mathematics) education. The government plans to expand the Atal Tinkering Lab (ATL) programme to 50,000 government schools over the next 5 years. This expansion aims to foster creativity, critical thinking, and practical learning among students, ensuring they can apply theoretical concepts to real-world challenges more effectively.

What is BharatNet?

BharatNet is a government-led initiative designed to provide high-speed broadband connectivity to rural and underserved areas of India. Launched in 2011, the project utilises an optical fibre network to connect villages and towns, ensuring affordable internet access to schools, healthcare centres, and other public institutions. By enabling digital services for rural communities, BharatNet plays a pivotal role in bridging the urban-rural digital divide.

BharatNet’s Impact on School Connectivity

The increased investment in BharatNet will extend high-speed internet to schools, particularly in underserved regions. This initiative will:

  • Enhance Digital Learning: Students will gain access to online platforms, educational videos, and digital resources for better learning outcomes.
  • Support Teacher Training: Teachers can access professional development programmes, equipping them with digital skills for improved instruction.
  • Streamline Government Initiatives: Better connectivity will ensure the efficient delivery of educational schemes and resources nationwide.

Stocks That Could Benefit from BharatNet Expansion

Several telecom and infrastructure companies stand to gain from the BharatNet broadband expansion. These companies are instrumental in providing broadband services, laying optical fibre networks, and enhancing internet connectivity. Some key players include:

HFCL (Himachal Futuristic Communications Limited)

HFCL is a leading provider of telecom infrastructure and optical fibre cable manufacturing in India. Given BharatNet’s reliance on fibre optic connectivity, HFCL is well-positioned to benefit from increased demand for broadband expansion.

Bharti Airtel

As one of India’s largest telecom service providers, Bharti Airtel is actively expanding its broadband network. The government’s focus on increasing internet access in schools could contribute to higher revenues for Airtel’s broadband segment.

Reliance Jio (via Reliance Industries)

Reliance Jio, through its extensive fibre-optic network, is a key player in India’s broadband sector. Jio’s involvement in digital initiatives aligns well with BharatNet’s expansion, potentially leading to increased data consumption and subscriber growth.

Vodafone Idea

While facing financial challenges, Vodafone Idea remains a significant broadband and telecom provider in India. The government’s push for expanded connectivity could provide potential growth opportunities for the company.

Tejas Networks

Tejas Networks specialises in telecommunications networking products and has been a beneficiary of government-led broadband projects. BharatNet’s expansion could further drive demand for its high-speed internet solutions.

MTNL (Mahanagar Telephone Nigam Limited)

MTNL, a state-owned telecom service provider, plays a crucial role in expanding broadband services, especially in metropolitan regions. BharatNet’s expansion could provide new opportunities for MTNL’s broadband and network infrastructure segments.

ITI Limited

ITI Limited, a government-owned telecom equipment manufacturer, contributes to India’s telecom infrastructure. The company could benefit from increased demand for network components and broadband expansion under BharatNet.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Budget 2025: Footwear Stocks Surge After Key Announcement

The Union Budget 2025-26 brought a sharp rally in footwear stocks as Finance Minister Nirmala Sitharaman introduced a new policy for the leather and footwear industry. The announcement, made during her budget speech in the Lok Sabha, included a dedicated scheme to improve productivity, boost quality, and support manufacturing in the sector.

Gains in Footwear Stocks

Following the announcement, multiple footwear stocks saw gains. Relaxo Footwears surged 8.97% to ₹598.75, while Liberty Shoes climbed 8% to ₹425.80. Bata India touched ₹1,335, rising nearly 3%. Other footwear companies, including Mirza International and Campus Activewear, recorded increases of 13.46% and 5.54%, respectively. Sreeleathers and Lehar Footwears also saw moderate gains.

Government’s Focus on Growth and Employment

The finance minister talked about how the scheme is expected to create employment for 22 lakh people. The sector is projected to reach a turnover of ₹4 lakh crore, with exports exceeding ₹1.1 lakh crore. 

The policy aims to support both leather and non-leather footwear manufacturing, including improving design capacity, component production, and machinery.

Market Reaction and Broader Implications

The footwear sector was among the notable beneficiaries of the budget, with stocks reacting positively. Meanwhile, the broader market saw volatility as the Sensex and Nifty 50 fluctuated during the speech. Historically, Budget Day trading sessions see movements within a 2-3% range, as investors react to various sectoral policies.

Budget Session and Other Announcements

This is Sitharaman’s 8th budget since 2019 and the second under the Modi government’s 3rd term. 

In addition to the footwear policy, the finance minister also introduced measures for infrastructure, banking, and manufacturing, while mentioning plans to develop India as a global toy manufacturing hub.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing