Union Budget 2024 India highlights Impact on Sector

Announcement	Impact	Companies
To support energy transition, the Government proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. Further, in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, the Government proposed not to extend the exemption of customs duties provided to them.	Positive for companies engaged in manufacture of solar cells, panels and solar glass.	Borosil Renewables, Websol Energy System
Rs. 3 crores additional houses under the PM Awas Yojana in rural and urban areas in the country have been announced, for which the necessary allocations are being made.	Positive for building construction, cement and steel sectors.	Ultratech Cement, Ambuja Cement, JSW Steel, NCC Ltd.
In partnership with the State Governments and Multilateral Development Banks the Govt will promote water supply, sewage treatment and solid waste management projects and services for 100 large cities through bankable projects.	Positive for companies engaged in waste management and sewage/waste treatment.	Va Tech Wabag Ltd, EMS Ltd., Ion Exchange (India) Ltd.
India’s seafood exports in the last financial year touched an all-time high of more than Rs. 60,000 crores. Frozen shrimp accounted for about two-thirds of these exports. To enhance their competitiveness, the Government proposed to reduce BCD on certain broodstock, polychaeta worms, shrimp and fish feed to 5%. The Government also proposed to exempt customs duty on various inputs for manufacture of shrimp and fish feed.	Positive for companies engaged in manufacture and sale of processed shrimps.	Avanti Feeds, Apex Frozen Foods
To incentivize domestic manufacturing, the Government proposed to increase the BCD to 15% from 10% on PCBA of specified telecom equipment.	Positive for domestic telecom equipment manufacturers.	Indus Towers, ITI Ltd.
The Government will support development of road connectivity projects, construction of bridges and set-up of power plants in the state of Bihar.	Positive for the cement and power sectors.	Ultratech Cement, Ambuja Cement, JK Cement
To enhance domestic value addition in gold and precious metal jewellery in the country, the Government proposed to reduce customs duties on gold and silver to 6% and that on platinum to 6.4%.	Positive for jewellery and precious metal related companies.	Titan, Kalyan Jewellers, Senco Gold
The Government plans to position India as a global tourist destination. Such a global positioning will help in generating employment, stimulate investments and opportunities for other sectors.	Positive for the railways, airlines, hospitality and tourism sectors.	RVNL, IRCON, InterGlobe Aviation, IRCTC, Indian Hotels
Power projects, including setting up a new 2400 MW power plant at Pirpainti in Bihar, will be taken up at a cost of Rs. 21,400 crores.	Positive for power industry.	NTPC, BHEL