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Will Modi 3.0 Boost Growth?

Business Today

PILGRIMS’ PROGRESS

CONSUMPTION CRUNCH • High inflation and low wage growth have hurt Indian households in recent times, leading to a decline in consumer demand in Q3FY25. There are expectations that the government might introduce measures to stimulate private consumption and boost investments to support demand. All eyes are now on Finance Minister Nirmala Sitharaman, who will present her eighth Union Budget on February 1. Let’s take a look at the key factors that are influencing demand:

THE MOOD TURNS SOMBRE • The BT-C Fore Business Confidence Survey reveals that business confidence dipped in Q3 amidst slower economic growth

Front-running Redux • Ketan Parekh has again been accused by Sebi. This time the allegations are of front-running, an unethical practice in financial markets

EYEING THE NORTHEAST • The key question now is when will UltraTech’s 8.69% stake in Star Cement evolve into a larger play in the Northeast market

STRATEGIC EXIT • The Adani Group’s decision to sell its holding in the FMCG food business is seen as a way to reduce high debt and allocate money smartly

TIME TO BE SMART • This year could be a good time to take home some profits, reduce risk, and shift to large-cap investments

Triumph of Engineering • The Udhampur-Srinagar-Baramulla Railway Line in J&K is set to expedite trade and tourism

THE BIG PHARMA OPPORTUNITY • The patent expiry of key drugs in 2025-26 will open up additional market space for Indian manufacturers of generics and biosimilars

RECIPE FOR GROWTH • Union Budget 2025-26 is expected to lay the blue print for the Narendra Modi government’s third term. But how will Finance Minister Nirmala Sitharaman deliver growth in the face of a slowing economy, global uncertainty, high inflation and tepid private investments?

TIME FOR A TAX BREAK? • INDIVIDUAL TAXPAYERS LOOK FORWARD TO THE BUDGET EVERY YEAR HOPING FOR A BIG TAX BREAK. IT HAS ELUDED THEM FOR YEARS, BUT WITH HIGH INFLATION, MODERATING URBAN CONSUMPTION, AND ROBUST TAX COLLECTIONS, WILL THE MIDDLE CLASS GET A TAX BREAK IN FEBRUARY?

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In with the NEW • THE GOVERNMENT’S FLAGSHIP, SIMPLIFIED NEW TAX REGIME HAS SLOWLY BUT SURELY GAINED TAXPAYERS’ ACCEPTANCE. IN ASSESSMENT YEAR 2024-25, 72% OF TAXPAYERS OPTED FOR IT. IS THIS CHANGE HERE TO STAY?

INFRA INJECTION • THE UNION BUDGET IS EXPECTED TO BOOST INFRASTRUCTURE SPENDING IN LINE WITH THE VISION OF MAKING INDIA A $7-TRILLION ECONOMY BY 2030. MODERNISING RAIL, ROAD AND AVIATION INFRASTRUCTURE IS LIKELY TO REMAIN TOP PRIORITY IN FY26

HEALTH BOOST • THE HEALTHCARE SECTOR IS EXPECTED TO RECEIVE A SHOT IN THE ARM IN BUDGET 2025-26, WITH A FOCUS ON PRIMARY HEALTHCARE, DIGITAL HEALTH, AND BOOSTING PHARMACEUTICAL MANUFACTURING AND RESEARCH. BUT CHALLENGES LIKE THE SHORTAGE OF HEALTHCARE PROFESSIONALS REMAIN

IN SEARCH OF A BOOSTER SHOT • TO BOOST GROWTH, THE GOVERNMENT MAY FOCUS ON INCREASING CAPEX AND BOOSTING DOMESTIC CONSUMPTION, PARTICULARLY TARGETING THE MIDDLE CLASS. THIS COULD PROVIDE A FILLIP TO STOCKS IN THOSE SECTORS

‘‘Indian aviation to see double-digit growth for the next 30 years” • Vinay Dube, Founder & CEO of Akasa Air, on the country’s aviation sector, why the airline was set up, and more

CAUGHT IN THE MIDDLE, WHICH WAY WILL TRUMP GO?

MAKING A MARK • IN A LANDSCAPE DOMINATED BY THE BIG FOUR ACCOUNTING FIRMS, DHRUVA ADVISORS HAS STRUCK IT BIG ON THE BACK OF ITS TAX AND REGULATORY ADVISORY SERVICES, ASSISTING SOME OF THE MARQUEE DEALS OF INDIA INC.

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