Budget 2025, Feb. 1 -- Shares of Zomato and Swiggy increased by 9-10% following Finance Minister Nirmala Sitharaman's declaration of an income tax exemption for individuals with an annual income of up to Rs.12 lakh in the Union Budget 2025. Experts think this initiative may stimulate spending in light of indications of waning urban demand.

Mohit Gulati, the CIO and managing partner of ITI Growth Opportunities Fund, explained that the Finance Minister has made a significant move to boost consumption by implementing new tax rates. With more disposable income, consumers now have the choice to either spend or save. As a result, companies in the Fast-Moving Consumer Goods (FMCG) sector are likely to benefit overall, and services like Swiggy a...