Finance Minister Arun Jaitley, who wants pension and insurance funds to invest more in equities and infrastructure.
Across India, decades of mismanagement and political meddling have left utilities selling electricity below cost and turning a blind eye to rampant theft.
The government has given up plans to reconvene a parliament session to secure approval for a common goods and services tax.
Indebted developers are cutting staff as they slow work on existing projects and postpone new ones until they clear a backlog of 700,000 unsold homes
Modi's party also wants to regulate property markets and tie investor money to specific projects to stop developers diverting cash elsewhere.
Indian Oil Corporation's stake sale received overwhelming reponse from investors.
India's main hubs are bursting at the seams.
The trade deficit widened to $12.8 billion last month
It also named bosses for Bank of India, IDBI Bank Ltd and Punjab National Bank from within the state sector
The rupee fell 1.87 percent against the dollar this week, its biggest fall since late April.
Modi's'Make in India' drive launched last September included laying out a model of "port-led" development that would support industrial growth.
Finance Minister Arun Jaitley sought parliament's approval on Friday to increase the spending budget for this fiscal year by $4 billion, with almost half to be used to inject extra capital into state banks struggling with bad loans.
SpiceJet is in talks with aircraft makers for a jet deal.
Under new Chairman Ajay Singh, the airline has cut routes - its capacity is down a third since last year - and costs.
Economists and investors want RBI to retain independence in setting rates
The airline was forced to ground its fleet in December after running out of cash.
Modi placed a $12.6 billion bet in this year's budget on road building
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
India's $100 billion push into solar energy over the next decade will be driven by foreign players as uncompetitive local manufacturers fall by the wayside, no longer protected by government restrictions on the sector.
India's Railways has struggled to expand to keep up with demand
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