Subsidy outgo for FY24 had been budgeted at ₹4.03 lakh crore, but may shoot up to ₹4.53 lakh crore. However, even this stretched welfare spend would be far less than the previous fiscal’s subsidy bill of ₹5.62 lakh crore.
HDFC Bank has more re-rating potential than ICICI Bank: Santanu Chakrabarti, BNP Paribas
Headline inflation in India also remains fairly benign with persistent inflation pockets like vegetable prices unlikely to be materially influenced by monetary policy. All in