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Budget 2023’s infra gift to mutual funds: The mid- and small- cap stocks that infrastructure MFs love to hold
Budget 2023 continued the government’s commitment to push the infrastructure sector with a slew of announcements. The finance minister listed the infrastructure-related investment as one among the seven key priorities of the Union Budget 2023. Deepak Jasani, Head of Retail Research, HDFC Securities says, “capital investment outlay is being increased steeply for the third year in a row by 33% to Rs. 10 trillion, which would be 3.3% of GDP. The government will allocate Rs 10,000 crore per year to the Urban Infrastructure Development Fund that would be used for creating infrastructure in tier-2 and tier-3 cities. Outlay for Roads and Bridges has risen from Rs.1.97 trillion to Rs.2.40 trillion. The capital outlay of Rs. 2.40 lakh Cr has been provided for the Railways. These Budget provisions will benefit companies engaged in the Cement, Metals, Engineering and Infra (road, railways) sectors”. Here are the most popular midcap and smallcap infrastructure stocks among the 18 infrastructure mutual funds. Data as on December 31, 2022. Source: ACEMF. Source : Money Control
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