Bengaluru, Feb. 5 -- The Union Budget will boost consumption sector and long-term policies are favourable for urban housing, insurance and defence-related industries, according to a new report.

The capex budget has risen 15 per cent CAGR in the past 10 years and the allocation until 2030 is likely to exceed $1.2 trillion, according to managers at smallcase, a leading provider of investment products and platforms for the Indian capital markets industry.

According to them, large capex investments are likely to be beneficial for banks and specialised infra NBFCs.

"While most of the consumption focused companies are overvalued but consumer finance companies are available at a more reasonable valuation," the report maintained.

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