Externally, the global economy is stabilising, with better growth is expected this year.
Moody's listed six agenda on the list of pending reforms -- land acquisition Bill, labour law reforms, significant infrastructure investment, tangible benefit from Make in India initiative, tax administration and PSU bank reforms
A strong showing will be vital to Narendra Modi's chances of a second term.
On Tuesday, Economic Affairs Secretary Arvind Mayaram told reporters that economic growth this financial year would be over five per cent and the numbers in the second quarter would be better than the first quarter which yielded gross domestic product expansion of 4.4 per cent, a four-year low.
Amid rupee sliding below 64 to a dollar, global agency Standard & Poor's on Tuesday said it will maintain negative outlook for the country as currency depreciation is adversely impacting investor confidence.
'Probability has increased for India to have improved fundamentals'.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
Despite difficult working conditions, Indians are still seeking jobs in Gulf countries
The 30-share Sensex ended higher by 31 points at 26,591 and the 50-share Nifty gained 10 points at 8,061.
Delhi Stock Exchange's (DSE) struggle to end its life without hurting the diverse interests of its multiple stakeholders will continue into another year.
The 30-share Sensex ended down 339 points at 28,119 and the 50-share Nifty closed 100 points lower at 8,438.
India said its economy grew 7.3 percent in the October-December quarter.
The ministry sought to allay the rating agency's concerns and said economic growth was on an upward swing.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
This is the lowest investment grade rating.
Sensex closed the day 416 points higher.
The 30-share Sensex closed down 115 points at 28,444 and the 50-share Nifty ended down 31 points at 8,524.
The index had risen over 585 points in the previous three sessions.
Budget clearly prioritised growth over fiscal consolidation, said Atsi Sheth, Senior VP, Moody's Investors Service.
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