The 30-share index of the Bombay Stock Exchange, which zoomed 473.47 points in the previous session on the back of robust growth projections in the Economic Survey, gained 262.33 points, or 0.89 percent, to 29,482.45.
The government's annual report card on the economy, released on the eve of the union budget, said growth rate of over 8 percent is expected in the coming year, and that it can even rise to double-digit levels with the right policy push and reforms.
Prime Minister Narendra Modi's stomach for free-market economics faces a major test on Saturday, in a budget India's top economic advisor has warned could wreck the leader's promises of "good days" if there's no roadmap to reform.
The time has come to deflate the Real Estate bubble and discourage fetish for Gold consumption and channelize savings into productive capital formation by investment in infrastructure for the nation. There cannot be a better day to address this issue than Union Budget 2015.
The Modi government should also stand its ground on the issue of land acquisition. Restoring social impact assessment would be going back to square one with land acquisition getting embroiled in environmental and societal considerations which while being important should not condemn economic growth perpetually to the comatose state
If Arun Jaitley's 2014-15 budget was eminently forgettable, Budget 2015-16 is his opportunity to correct that impression. If he meets the 10 big challenges he faces head-on, this budget will be as important as the one in 1991
The Economic Survey tabled in parliament is more optimistic in tone than others in the recent past. It sees "creative incrementalism" as the route to reforms and raising GDP growth to double-digits. One-shot big bang reform is not needed
The double-digit growth that the Economic Survey sees as possible is not statistically difficult. More interesting is the practical approach it takes to reforms in a diverse, democratic polity.
In his press conference, chief economic adviser Arvind Subramanian alerted journalists to not look at the Economic Survey as anything more than wishful policy thinking.
Companies globally are watching the direction India will move on this front and will they be able to actualise it
The responsibility of acting on recommendations such as reforming state-run banks and bringing in bankruptcy laws, rests with the government.
The government's endeavour should be to increase tax-to-GDP ratio to a higher level; for that, tax net should be widened and evasion checked
Under the policy of participative model for rail connectivity and capacity augmentation, investment of Rs 10,000 crore has been committed for 19 rail projects so far.
The government would do well if it acts in the direction offered by the economic survey
There is not much hope for the private sector. What has not helped the private sector is the fact that it is terribly over-leveraged (i.e. it has taken on a massive amount of debt in comparison to the equity that it has)
The benchmark BSE Sensex gained 1.5 percent to 29,173.56 and the broader Nifty added 1.54 percent, heading towards their best single-day gain since 20 January.
The Survey said that India's total renewable power installed capacity as 31 December 2014 has reached 33.8 GegaWatts with wind energy accounting for 66 percent of the installed capacity followed by biomass, small hydro power and solar power.
India's economic survey pegged growth at more than 8 percent for the next fiscal and said inflation was now declining, while also setting the agenda for reforms needed to further drive the expansion, prune wasteful expenditure and promote productive investment.
The Indian government had imposed restrictions on gold imports in 2013 when a wide current account deficit had sparked the worst currency turmoil since a 1991 balance of payments crisis.
The corporate and industries sector sees a lot of positives in the budget presented by Railway Minister Suresh Prabhu.
The DAC has approved Rs 200 crore for a central-sector scheme for promotion of national Agricultural Market through Agri-Tech Infrastructure Fund to be implemented during 2014-15 to 2016-17.
India can increase public investment to drive growth without borrowing more, a key government report said on Friday, in an indication that Finance Minister Arun Jaitley will stick to debt targets in his maiden full-year budget on Saturday.
The survey has recommended that the Modi government should invest in the development of railways like the Vajpayee government had invested in roads.
It is a balanced budget. However, it leaves question mark on the challenge of convincingly garnering the significant amount of funds.
Meeting the projections looks too unrealistic at this point in time, unless economy turns around and consumer confidence returns dramatically
Rationalisation of subsidies and better targeting of beneficiaries will release resources for public investment in agriculture
Just a day ahead of the Union Budget, the NDA-led government today tabled the Economic Survey for 2014-2015 in Parliament which outlines the broad direction of the Budget and the economic performance of the country. The Survey forecasts a growth rate of over 8% for the financial year 2015-2016 on the basis of the new GDP calculation formula and emphasises that there is scope for big bang reforms as of now.