Business

Although exchange of information on "request basis" has resulted in improving transparency, its scope is limited, the Finance Minister argued.

The National Stock Exchange index Nifty edged higher by 9.80 points, or 0.11 per cent, at 8,760.

The Indian currency had ended the last fiscal year at 59.91 against the dollar.

One of the main items that could be scrapped is the need to detail the use of proceeds from the initial public offering of shares.

He noted that elimination of poverty is a major challenge and government is working hard to tackle this great challenge.

The rupee resumed lower at 62.32 a dollar at the Interbank foreign Exchange (Forex) market and weakened further to 62.34 due to initial dollar demand as well as volatile trend in stocks.

In volatile movements, the 30-share BSE index opened firm at 29,436.77 and then improved to touch the day's high of 29,518.32 in early trade.

Qatar Airways will also keep investing in other well-managed carriers to diversify its income from the main airline.

At the Interbank Foreign Exchange (Forex) market, the rupee commenced modestly lower at 61.89 a dollar from its previous close of 61.87.

Lauding the budget as "very positive" and "courageous", NRI industrialist Lord Swraj Paul said it gives India the opportunity to make a mark in the world.

The rate hike follows seven consecutive monthly cuts since August, the last being by 11.27 per cent (Rs 5,909.9 per kl) from February 1.

The soon-to-be-launched Pradhan Mantri Suraksha Bima Yojna will cover accidental death risk of Rs 2 lakh for a premium of just Rs 12 per year.

The individual taxpayers would get additional deductions of up to Rs 74,600 a year from their taxable income following new measures, in lieu of investments in pension and health insurance schemes, among others.

The government is also planning two game changing reforms - Goods and Service Tax and JAM Trinity for easy transfer of cash.

PM Modi aims to make India one of the world's largest renewable energy markets, targeting 100,000 MW of output by 2022.

"The fall in diesel prices and a pick-up in freight earnings have given us a golden chance to raise investments," said one government official.