Budget's emphasis on capital expenditure marks a noteworthy shift, and higher investment in India's physical infrastructure should help to raise investment potential and competitiveness in the economy over time.
Higher spending will be funded by higher borrowing which has the potential to create an upward pressure on inflation and interest rates.
FDI limit for insurance sector increased from 49 per cent to 74 per cent in insurance companies and allow foreign ownership and control with safeguards.
The 30-share Sensex was trading 929.54 points or 2.01 per cent higher at 47,215.31; and the broader Nifty surged 260.05 points or 1.91 per cent at 13,894.65.
The GST revenues during January 2021 are the highest since introduction of GST.