Budget 2024: No key announcement expected, says Santosh Singh of Motilal Oswal AMC

livemint.com:

last Budget before general elections, Santosh Singh, fund manager of Motilal Oswal AMC, doesn't anticipate a multitude of significant announcements to be made. Apart from his expectations from the interim Budget and government's focus on manufacturing and development, he deconstructs the stupendous spike shown by the market and its likely reasons. Among many positive things likely to happen next year, the IT sector is expected to beat the expectations, says Santosh Singh in an email interview with Mint.

He also asserts that the market has already factored in a majority government being elected in the forthcoming elections, as a result of which, the market is likely to stay range bound. To lay investors, he therefore advises to stay committed to long term financial goals without getting influenced by the short-term movement. Given this budget 2024 would be a partial one, given it’s the last one before the budget, I don't anticipate a multitude of significant announcements.

However, I would focus on the commentary and the intent in the budget. I would expect that to take forward the focus the government has shown on capex, manufacturing and development. I think if the government is able to show policy consistency, it would help the market to take a view for the future.