All these measures will revitalise the manufacturing sector, which has been in doldrums.
A sluggish economy and stalled bureaucratic decision-making for the past two years thwarted capital investment and dented earnings, making it tough for the companies to raise funds.
Some experts had said the Budget did not have much in terms of big ideas.
Money flowing into the equity schemes of mutual funds is back at a level last seen before the 2008 financial crisis, when the stock market tanked 60 per cent.
Other Sensex gainers were Infosys, Wipro, ICICI Bank, Hero MotoCorp, L&T, Axis Bank,, Tata Steel, HDFC and Cipla.
Budget 2014-15 has done away with the tax sunset clause of March 2014.
It is a Budget 'high on promises but low on design,' the agency said.
The average age of the 125-billion strong Indian population will be 29 years in 2020, even younger than China and the US.
India needs to revive corporate sector investment, push critical reforms and remove infrastructural bottlenecks to boost industrial growth in the country, says a government document.
Former Railway Ministers were not on the same track as incumbent Sadananda Gowda, calling the Rail budget "pro-rich" and a " Modi gadget" which has nothing new to offer.
Hussain said the new government had inherited an "empty treasury" while the prices of oil were shooting up.
The headline HSBC Services Business Activity Index was at a 17-month peak of 54.4 in June rising from a modest 50.2 in May, HSBC said adding that 'the Modi wave has struck the service sector'.
Though the sum was nowhere close to the big-ticket monthly purchases seen during the 2004-2008 bull run, it is significant, as it confirms the reversal of a selling spree that began in September 2013.
Moody's expects the new government to increase the retail selling prices of controlled fuel products -- kerosene and liquefied petroleum gas -- to help control its subsidy burden.
About 72 per cent of Indian employers, i.e. three in four, believe the focus on such initiatives is likely to grow stronger two years down the line.
At item level, rice, coconut oil, fish fresh, poultry, milk, onion, vegetables, fruits, sugar, cigarette, electricity charges etc. are responsible for increase in the index.
According to Chinese officials, its current investments in India stands at $1.1 billion, mostly in Gujarat.
Oil and gas players' wish list includes incentivising E&P investments and reintroduction of income tax holiday for exploration and production activities, among others.
'The whole country has to aspire to move up. They should look at their neighbours, see where they are, and should work to get there.'
The Finance Ministry has started preparations for Budget 2014-15 by asking different central ministries and departments to come out with their estimates of receipts as well as expenditure for the next financial year.
It is a toss-up between liquidity and higher returns; if the tenure is more than three years, FMPs score.
The government's total debt increased by 2.6 per cent to over Rs 46 lakh crore in the third quarter ended December, compared to the previous three months of the current financial year.
The country's apex exporters body Federation of Indian Export Organisations said that support extended by the minister for research and development activities and reduction of duties on capital goods will help in increasing competitiveness of Indian products in the global market.
The Central Board of Direct Taxes, the apex policy making body of the I-T department, has been undertaking a host of steps to bolster the litigation management wing of the department which has come under criticism not only from courts but also successive Finance Ministers and in the audit reports of the Comptroller and Auditor General.
The accountancy giant said the rapid rise of the Indian economy with its young workforce would push it up from being the 10th largest economy in 2013 to the third largest by 2030.
After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
Modi had also said recently that there is a need to administer "bitter medicine" to revive the ailing economy.
An analysis of the frequency of various watchwords in the finance minister's Budget speech shows that he was perhaps trying to hold on to his ideas without treading on anybody else's toes, says A K Bhattacharya.
The decision assumes significance following the enthusiastic response from retail investors in the Friday's stake sale in steel major SAIL, which fetched the government Rs 1,715 crore (Rs 17.15 billion).
Government needs tight control over both expenditure and populism.
Finance Minister Arun Jaitley is unlikely to heed economists' suggestion that an inheritance tax be introduced in Budget 201415 as an additional revenue stream.
Finance Minister Arun Jaitley is unlikely to heed economists' suggestion that an inheritance tax be introduced in Budget 201415 as an additional revenue stream.
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After scrapping the selection of six UPA-appointed bank chiefs, the government has now decided to make significant changes to the selection process.
While FMPs no longer offer the same short-term advantage, it is still a good product for the medium term.
To help compare numbers better, FinMin might retain the interim Budget Estimates with the new ones.
Prices of automobiles, including cars, sports utility vehicles and two-wheelers, are set to come down with Finance Minister P Chidambaram announcing a reduction in excise duty in the Interim Budget.
CAG says Railways lost about Rs 4,300 crore in 2008-2012 because of improper documentation.
The bad loans of public sector banks were at 4.4 per cent in March 2014 compared with 2.09 per cent in 2008-09, it said, adding, the gross NPA increased by almost four times from March 2010 (Rs 59,972 crore or Rs 599.72 billion) to March 2014 (Rs 2,04,249 crore or Rs 2,042.49 billion).
Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India's economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.
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