The BSE Sensex and NSE Nifty 50 Indexes open higher, with Sensex breaching 40000 benchmarks, just ahead of the first maiden budget of Prime Minister Narendra Modi-led NDA government in its second term.
Up by more than 100 points, Sensex crossed the 40K benchmark almost after a month, Nifty 50 also signalled green as the markets opened on Friday.
While the Indian rupee opened lower at 68.5 against the US dollar against Thursday’s 68.49 rate at the closing.
Markets will be closely watched as the Budget is presented in the parliament, as it will set the tone for the proposed economic policies when India’s economy rose at 5.8 per cent, the slowest pace of growth in five years.
Meanwhile, The Economic Survey 2019 was presented on Thursday.
The Economic Survey prepared by the Chief Economic Advisor Krishnamurthy Subramanian, said that sustained 8 per cent growth is needed for India to become a $ 5-trillion economy by 2024-25.
The Economic Survey has projected the GDP growth for 2019-20 at 7%, an improvement from 6.8% in Financial Year 2018-19.
The Budget for the financial year 2019-20 will be the first Budget to be presented by the country’s first full-time woman Finance Minister Nirmala Sitharaman.
Her budget speech will begin at 11 a.m. in the parliament, which will be live telecast at INDIA AHEAD NEWS channel.