Summary: Believe it or not. The super-rich too care about the annual Union budget. Like the common man, the run-up to the budget is hard on the rich too due to the annual calls for imposing more taxes on them. This year’s budget may have been a mixed bag for the high-net-worth individuals, otherwise known as the super-rich. Why is that the case? Bhaswar Kumar’s report answers that question Allotment of 10 trillion rupees for capital expenditure in 2023-24 was one of the key highlights of this Union budget. This was 37% more than the revised estimate for 2022-23. But what does the fine print tell us? Meanwhile, last week was quite eventful for the domestic markets. Frontline indices weathered a storm that ravaged the Adani Group stocks. Economic survey’s growth projection for 2023-24 and reforms announced in the Union budget saved the day for it. The dovish stance by the US Federal Reserve also worked in its favour. This week, after the US Fed carved the path of a smaller rate hike, analysts expect the Reserve Bank of India to walk the similar path. Financial markets, GDP, per capita income -- there are several ways to gauge the health of a country’s economy. But, of late, economists and financial institutions have also been exploring unconventional ways to arrive at conclusions. Night light data is one of such metrics. We explain it in this episode of the podcast and more.
