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Business News/ Markets / Live Blog/  Adani and Insurance stocks erase budget speech gains; Nifty closes in red

Adani and Insurance stocks erase budget speech gains; Nifty closes in red

Share Market Close: Adani stocks continued to drag the market as all gains post the budget speech was lost and Nifty ended in the red. However, Sensex managed to make a comeback to end in the green. Adani Enterprises sank 26% and Adani Ports 17%. HDFC Life and SBI Life tumbled. Metal and PSU Bank sectors struggled.

Stock Market Today: Budget and Fed's rate hike decision to remain in focus (Photo: Mint)Premium
Stock Market Today: Budget and Fed's rate hike decision to remain in focus (Photo: Mint)

The budget has kept the FY24 Fiscal Deficit target at 5.9% of GDP and has increased the capital expenditure outlay to 3.3%. For direct tax, an increase in income rebate to 7 lakh under the new tax regime and no tax for the first 3 lakh under the old regime. 

01 Feb 2023, 03:42:50 PM IST

Indices closed on a mixed note as Adani stocks dragged Nifty into red, while Sensex ended with marginal gains

Indian benchmark indices reversed gains made after the budget speech to end on a mixed note with Sensex closing in green, while Nifty ending in the red.

The fall was led by insurance companies after the country's Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled.

The Nifty 50 index shed 45 points to close at 17,616, while the S&P BSE Sensex added 160 pts to close at 59,708.

The indices rose as much as 2% after Finance Minister Nirmala Sitharaman raised the rebate limit for personal income tax to 700,000 rupees from 500,000 rupees.

Indian insurance companies were top losers post-budget, with HDFC Life, SBI Life Insurance, ICICI Prudential Life Insurance Co, Life Insurance of India, General Insurance Corp and Max Financial tumbling between 4.5% to 11%.

The sharp decline comes after Sitharaman proposed to tax total returns upon maturity of life insurance policies (except ULIPs) issued on or after April 1, 2023, if the aggregate premium of such policies is more than 500,000 rupees a year.

Adani stocks continued their downward slide with Adani Enterprises shedding 26% and Adani Ports 17%. ITC, ICICI Bank Tata Steel, JSW Steel and Britannia were among the top gainers in today's session.

Almost all sectoral indices ended in red with PSU Bank shedding 6% and Metal losing 5%. FMCG and IT sectors ended in green with decent gains.

Global stocks gained mostly while Wall Street futures declined ahead of what traders hope will be the last Federal Reserve interest rate hike for some time.

Japan's Nikkei share average shed early gains to end little changed on Wednesday as caution took hold of the market before a crucial U.S. Federal Reserve policy decision later in the day. At the same time, there was a wide split between the big winners and losers as investors reacted to domestic earnings reports.

The Nikkei finished 0.07% higher after gaining as much as 0.81% earlier in the session, a one-and-a-half-month high. The broader Topix slipped 0.15% giving up early gains.

The Shanghai Composite Index gained 0.9% after two surveys showed Chinese factory activity increased in January but still is subdued amid weak global demand and COVID-19 outbreaks that disrupted business. The Hang Seng in Hong Kong added 1%.

European shares edged higher in the morning session boosted by gains in Novo Nordisk and other healthcare stocks. The pan-European STOXX 600 was up coming off a 6.7% jump last month – its biggest gain in any January since 2015 – on hopes of better-than-expected corporate earnings and signs of economic resilience.

UK stocks inched higher on Wednesday after a slate of positive corporate updates, although the mood was tempered by concerns about a slowing British economy and upcoming monetary policy decisions. The blue-chip FTSE 100 and the midcap FTSE 250 index climbed in the morning session.

Nifty at Close
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Nifty at Close
01 Feb 2023, 03:20:28 PM IST

Angel One views on Rupee: Upcoming RBI policy shall be the game changer

Heena Naik, Research Analyst - Currency, Angel One Ltd: The USDINR Spot (CMP: 81.76) is likely to remain in the bearish arena for some more time and could possibly move towards 80.80 levels in the coming days. The Union Budget shall allow the middle-class clan (largest spender) to spend more and support the economy in the due course of time. The next important event is today’s FOMC Policy, and the upcoming RBI policy shall be the game changer for Rupee. For now, USDINR looks bearish.

01 Feb 2023, 03:19:17 PM IST

Fuelled by rise in Seltos, Sonet purchase, Kia India's vehicle sales grow by 48% in January

With the rise in auto sales by 48% in January, mainly driven sales of Seltos and Sonet, Kia India witnessed an encouraging start to the year 2023. The automaker, on Wednesday, said that its wholesales rose by 48 per cent at 28,634 units in January. The company's wholesales stood at 19,319 units a year ago at the same time.

The company informed that two of its key models, ie Seltos and Sonet, witnessed an impressive hike in sales. Seltos and Sonet models' sales stood at 10,470 and 9,261 units during January. Kia Carens stood third in the rankings, followed by Carnival. Around 7,900 units of Kia Carens and 1,003 units of Carnival were sold by the automaker in January 2023. (Read More)

01 Feb 2023, 03:09:42 PM IST

George Alexander Muthoot, MD, Muthoot Finance views on the budget

“The Budget 2023 presented by our Honourable Finance Minister today has touched upon all the right chords of the economy, and it will go a long way to boost capital expenditure, infrastructure, housing, along with consumption. The capex expenditure outlay of 10 lakh crore will pave the way to boost economic growth, along with job creation. The enhanced outlay by 66% to Rs. 79,000 crore under the PM Awaz Yojna will boost India’s housing sector, especially in the rural and semi-urban areas. FM’s focus on sustainable cities, creating infrastructure in Tier 2 and Tier 3 cities and Fifty additional airports, heliports, water aerodromes will further boost rural connectivity thereby supporting regional economy.

During the pandemic MSMEs relied heavily on gold loans to meet their credit needs and the budget further has offered a big relief to MSMEs, which have been one of the most impacted sectors during the pandemic. In order to reduce the stress on the segment and increase the flow of funds, the Government revamped the ECLGS scheme via the infusion of 9000 crores in the corpus. This will enable collateral for 2 lakh crore loans to the small and medium-sized businesses. Further, 95% of the forfeited amount relating to bid or performance security will be returned to the MSMEs by the government and other undertakings. We also believe that the reforms announced with respect to the growth and development of the agricultural sector, animal husbandry and fisheries will further boost these sectors and support the economy. All these measures will positively enhance the scope of Gold-loan NBFCs like us, which are catering to the underbanked sectors of the society."

01 Feb 2023, 03:07:37 PM IST

Manu Rishi Guptha of MRG Capital expresses his views on the budget

Budget today has given thrust to the growth drivers of infrastructure, agricultural, MSME and personal consumption while relying more on indirect tax receipts to limit the fiscal deficit to 5.9% in FY24

Ø Increase in capital expenditure bys 33% to 10 lakh crores will be good for all construction companies, cement and allied sectors. 50-year interest-free loans to states with caveat of the amount to be spent on capex by FY24 is a good move as states have fallen behind capex spends in FY23

Ø Fund to promote agricultural start-ups and increasing agri credit limit to 20 lakh crores will offer support to the rural sectors. Reduced fertilizer subsidy is a minor negative but a step in the right direction.

Ø Credit guarantee scheme for MSMEs was revamped to 9000 Crores from 1 April 2023. This after the ECLGS scheme gets lapsed in March 2023 will support MSMEs


Ø Increased personal income taxes rebate to 7 lakhs will reduce the effective tax rate for the salaried class and is a big boost to personal consumption. Sectors like housing, autos and banks likely to benefit from this. There is no direct extra benefit given to housing in terms of deduction of interest expenses but reduced personal income taxes will indirectly benefit the housing sector.

Ø Continuation of customs duty on mobile phones, some steel products etc; will offer support to the PLI scheme and domestic industry players.


Ø Divestment target at 61000 Crores seems realistic.

Only miss in our view is the higher reliance on indirect tax receipts to meet the revised FY24 fiscal deficit target of 5.9%. Any global slowdown and spillover effects on India will make this difficult to achieve.


01 Feb 2023, 02:56:03 PM IST

Adani Rout Passes $80 Billion as Stock Sale Fails to Stems Doubt

The crisis of confidence plaguing Gautam Adani is deepening, with the stock rout triggered by Hindenburg Research’s fraud allegations erasing a third of the market value in his group’s companies despite the completion of a key share sale.

The selloff accelerated in afternoon trading, with all of the 10 stocks tied to the billionaire slumping. Adani Enterprises Ltd., the flagship firm that completed a $2.5 billion follow-on stock sale Tuesday, lost as much as 15%.

The turmoil indicates heightened concern over the debt load incurred by the conglomerate after a rapid expansion into industries from green energy to media, with short seller Hindenburg accusing it of inflating revenue. With the selloff passing $80 billion across the group’s stocks, banks have asked for more stock collateral on a loan, Bloomberg reported this week.

“It is a wait-and-watch situation. They have obviously found the investors but concerns of Hindenburg Research have not been addressed," said Brian Freitas, an analyst at Smartkarma.

The offering by Adani Enterprises was India’s largest follow-on share sale, and was fully subscribed on the final day, aided by a last-minute surge in demand from institutional investors. At least two of India’s biggest business families, including tycoons Sajjan Jindal and Sunil Mittal, are also said to have participated in it, in a sign of solidarity with Adani. (Bloomberg)

01 Feb 2023, 02:29:52 PM IST

IMF expresses concern over possibility of Pak opposition creating hurdles in govt's hard economic decisions: Reports

The IMF has expressed concern that Pakistan's opposition parties might create hurdles in the way of implementing the tough economic decisions of the cash-strapped Shehbaz Sharif-led government, media reports said on Wednesday.

The views of the global lender came as a high-level delegation led by the International Monetary Fund (IMF) Mission Chief Nathan Porter on Tuesday met Finance Minister Ishaq Dar and other officials as part of the opening session of 10-day long talks for the completion of the much-delayed programme review for a bailout package.

Porter raised the question about the implication of the opposition’s role in difficult decisions that Pakistan would have to take to avoid the default, The Express Tribune newspaper reported.

"The fund had concerns that the opposition might create some problems in the way of rolling out additional taxation measures that the government was planning to impose to revive the talks," it quoted Porter as saying.

However, Finance Minister Dar assured the IMF mission head that the government believed in political dialogue and there was nothing to worry about.

01 Feb 2023, 02:20:06 PM IST

Metal index tanks 2% as Adani Enterprises sheds 15% in today's session and is dragging the index

Metal Index
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Metal Index
01 Feb 2023, 01:59:20 PM IST

Adani stocks along with HDFC Life and SBI Life drags the Nifty 50 despite an otherwise strong market

Nifty 50 laggards
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Nifty 50 laggards
01 Feb 2023, 01:57:17 PM IST

Gold rates today at life-time high after budget 2023 proposal. Buy or hold

Gold rates today climbed to a new lifetime high of 58,060 per 10 gm on Multi Commodity Exchange (MCX). The gold future contract for February 2023 started rising amid the budget speech of Finance Minister Nirmala Sitharaman and went on to climb to its record high by the time FM finished her speech in the parliament. Highlighting the connection between the gold price rise and FM Sitharaman's budget speech, commodity market experts said that gold price today hit a new high because of the budget proposals to increase the import duty on silver Dore, bars and articles to align them with that on gold and platinum. (Read More)

01 Feb 2023, 01:53:06 PM IST

PSU Bank index tanks as Adani stocks slide continues to affect the Banking sector

PSU Bank
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PSU Bank
01 Feb 2023, 01:48:05 PM IST

Bajaj Auto's total vehicle sales decline in January

Bajaj Auto reported a decline in its total vehicle sales in January. The automaker posted a 21% dip at 2,85,995 units last month. The company's vehicle sales stood at 3,63,443 units in the year-ago period.

Sales of two-wheeler dropped 25% at 2,41,107 units in January 2023 compared to 3,23,430 vehicles sold in the same month the previous year, with domestic sales rising 4% at 1,40,428 units and exports declining a whopping 46% at 1,00,679 during the period under review over 2022. (Read More)

01 Feb 2023, 01:31:52 PM IST

Post-budget reaction on Education Sector

Sumit Rai founder of EUGateway: “It’s great to see the Union Government’s focus on education and launch Pradhan Mantri Kaushal Vikas Yojana 4.0. In order to skill the youth for international opportunities, 30 Skill India International Centres will be set up across different States that will push students into different career opportunities. Also, the announcement of 100 labs for developing apps using 5G services will be set up in engineering institutions and her announcement on focusing on a national digital library for children and adolescents will provide quality books.

Ajay Gupta, the Founder of Bachpan Play Schools and Academic Heights Public Schools, and the Co-Founder at Rishihood University: We welcome the government's focus on building a knowledge-driven economy to provide all students with equal opportunities and foster inclusive development. Employing more teachers and support staff for the Eklavya model schools will greatly benefit tribal students. The setting up of a national digital library and the creation of other knowledge assets for children (such as new labs) will also provide them with access to quality books, enhancing their learning experience and driving our country's progress.

01 Feb 2023, 01:24:39 PM IST

Credit Suisse stops accepting bonds of Adani’s group amid Hindenburg row

Switzerland-based investment banking company Credit Suisse has stopped accepting bonds of Adani group as collateral for margin loans to its private banking clients, a sign that scrutiny of the billionaire Gautam Adani's finances is growing after allegations of fraud by short-seller Hindenburg Research.

The Swiss lender’s private banking arm has assigned a zero lending value for notes sold by Adani Ports and Special Economic Zone, Adani Green Energy, and Adani Electricity Mumbai Ltd, Bloomberg agency reported. (Read More)

01 Feb 2023, 01:15:29 PM IST

Dinesh Kanabar from Dhruva Advisors views on Budget: 

• Reducing the max marginal rate of tax very welcome. 42 per cent was indeed steep. Govt has done right by reducing to 39 per cent."

• “The fact that we have had to reduce 39000 compliances just shows how many compliances we have had to live with and why we have still a long way to go on Ease of Doing Business!!"

• "Apparently, payments to MSME will be allowed only on payment basis. Hence one will need to track all dealings with MSME and track payments"

• "Settlement Scheme for Arbitration matters. Very interesting. Hopefully should provide a way for those litigating with the Govt an easier option to realise cash early

01 Feb 2023, 01:02:31 PM IST

Geojit Financial Services views on Capex outlay: Bond markets are getting jittery as expenditure looks elevated so far

Satish Menon, Executive Director at Geojit Financial Services: Capex outlay increased by 33% to 10 lakh crore for FY24. At this level, public capex will be 3.3% of GDP. Equity indices are in the green so far. But bond markets are getting jittery as expenditure looks elevated so far. 10-year bond yield has climbed 2 basis points to 7.38% since the FM announced the hike in capex outlay. A lower fiscal deficit will cool bond markets.

01 Feb 2023, 12:55:58 PM IST

Budget 2023: What has become cheaper, what’s more expensive; Full list

Customs duty on kitchen electric chimney increased to 15% from 7.5%

Govt to reduce basic customs duty on seeds used in manufacturing of lab-grown diamonds.

Govt to reduce customs duty on shrimp feed to promote exports.

Govt to continue with concessional basic customs duty of 2.5 pc on copper scrap.

Govt proposes to cap deductions from capital gains on investments in residential houses to 10 crore

Custom duty on cigarettes increased, said FM Nirmala Sitharaman. I propose to reduce the number of basic custom duty rates on goods other than textiles and agriculture, from 21 to 13. As a result, there are minor changes in the basic custom duties, cesses and surcharges on some.

01 Feb 2023, 12:54:18 PM IST

Mukesh Ambani overtakes Gautam Adani to become richest Indian in the world

Reliance Industries Chairman Mukesh Ambani has overtaken Adani Group chairman Gautam Adani to become the richest Indian in the world with a net worth of USD 84.3 billion, according to Forbes Real-time billionaire list for 2023.

Ambani overtook Adani after the Reliance Industries Chairman's assets went up 0.19 per cent with an increase of wealth by USD 164 million while Gautam Adani's assets went down by 4.62 per cent with the industrialist's weath pegged at USD 84.1 billion according to the real time tracker of Forbes of 5 pm EST on Tuesday.

Adani who figured among the top three billionaires in the world has dropped in the ranking to number 10 just below Mukesh Ambani. At the top of the list is French luxury fashion giant's LMVH's Bernard Arnault and family. In December 2022, Louis Vuitton's founder and CEO Bernard Arnault overtook Elon Musk as the world's richest person.

However, these values fluctuate constantly. If there is a gain in Adani's stock, it is expected Adani's personal wealth will rise too.

This comes following a report by US short-seller Hindenburg Research on the Adani Group alleging a decades-long fraud scheme, "brazen accounting fraud, stock manipulation and money laundering" (ANI)

01 Feb 2023, 12:50:03 PM IST

Anand Rathi, Founder & Chairman, Anand Rathi Group reaction on Budget

A 33% increase in capital expenditure to 10 lac crore rupees, the highest ever will go a long way in building roads, ports, and airports — crucial for making India a reliable investment destination. Investment of Rs. 2.4 lac crore in Railways is commendable. Boost to capex before the national polls is an indication Modi is focused on realizing his dream of making India a factory for the world.

The gross borrowing estimate of 15.43 trillion rupees for next year is lower than the survey estimates of 15.77 trillion rupees. Hopefully, that should cheer the bond markets. Net borrowing at 12.3 trillion rupees, however, is higher than the estimate. Need to see how much of that could be raised via green bonds.

India’s maiden sovereign green bond issuance last month fetched a better-than-expected yield and the next tranche is planned for Feb. 9.

FM has reduced the Fiscal Deficit target to 5.9% for 23/24, which is a welcome move and should help in maintaining the interest rate lower."

01 Feb 2023, 12:48:30 PM IST

S Ranganathan, Head of Research at LKP Securities views on Budget

S Ranganathan, Head of Research at LKP Securities: In keeping with its focus on inclusive growth, the Union Budget has hiked outlays on Infrastructure and Agriculture which in our view would have a force multiplier impact on the economy.

Increased Outlay towards Energy Transition, Railways, Affordable Housing & Urban Infrastructure indicates GOI resolve on enablers for growth.

Fiscal Deficit estimated at 5.9% of GDP meets street expectations on fiscal prudence.

The Budget has put more money in the hands of the people through relief from Income Tax which to our mind is a very positive step.

Budget leaving Taxation on Capital Gains untouched is a big positive.

We rate the Union Budget 9/10

01 Feb 2023, 12:45:10 PM IST

Budget: ₹9,000 cr corpus for revamped credit guarantee scheme, revamped credit guarantee scheme will be effective April 1, 2023

01 Feb 2023, 12:38:57 PM IST

Budget: Government's gross borrowing for FY24 is pegged at 15.43 trillion

01 Feb 2023, 12:34:05 PM IST

Budget: No news on bank privatisation

More than an hour into the Budget 2023 speech, FM Nirmala Sitharaman has not touched up on any key banking sector reforms including the long held promise of privatisation of public sector banks.

01 Feb 2023, 12:29:57 PM IST

Budget: New tax slabs under old tax regime

0-3 lakh nil

3-6 lk 5%

6-9 lk 10%

9-12 lk 15%

12-15 lk 20%

above 15 30%

01 Feb 2023, 12:27:01 PM IST

Budget: Increase in income rebate to ₹7 lakh in the new tax regime

01 Feb 2023, 12:23:28 PM IST

Budget: Startups - Date of incorporation tax benefits extended to 31 March 2024 from 31 March 2023

01 Feb 2023, 12:22:37 PM IST

Budget: Clothes, garments to get expensive

01 Feb 2023, 12:21:03 PM IST

Budget: IT return processing time reduced

- Average processing time for ITRs reduced from 93 days to 16 days

- We intend to roll out next-gen common IT Return forms and strengthen grievance redressal mechanism

01 Feb 2023, 12:19:49 PM IST

Noon Update: Indices give a stable reaction to budget as Sensex remains around 500 pts higher and Nifty around 100 pts 

Sensex at Noon
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Sensex at Noon
01 Feb 2023, 12:15:46 PM IST

Budget: Cigarettes to get more expensive

01 Feb 2023, 12:14:35 PM IST

Budget: Customes duty reduced on parts of mobile phones such as camera, lens, etc

01 Feb 2023, 12:11:10 PM IST

Budget: Tax exemption on capital goods and lithium batteries

01 Feb 2023, 12:07:00 PM IST

Budget: FY24 Fiscal Deficit target 5.9% of GDP

FY2024 fiscal deficit target at 5.9% of GDP

Fiscal Deficit target below 6.5% by 2025-26

FY24 gross borrowing target at 15.43 lakh crore

01 Feb 2023, 12:03:54 PM IST

Budget: ₹9,000 cr corpus for revamped credit guarantee scheme, revamped credit guarantee scheme will be effective April 1, 2023

01 Feb 2023, 12:03:28 PM IST

Budget: National Financial Information Registry o be designed in consultation with RBI

NFIR to be designed to promote credit, facilitate inclusion. NFIR to be designed in consultation with RBI.

01 Feb 2023, 12:00:19 PM IST

Budget: Customs duty on lab-grown diamonds to be reduced

01 Feb 2023, 11:59:43 AM IST

Budget: Funds allocated to scrap old vehicles, including old ambulances

01 Feb 2023, 11:58:41 AM IST

Budget: All cities and towns to have 100% mechanical de-sludging of septics tanks

All cities and towns will be enabled for 100% mechanical de-sludging of septics tanks & sewers to transition from manhole to machine-hole mode.

01 Feb 2023, 11:55:53 AM IST

Budget: Teacher recruitment for residential schools to serve tribal regions

The Centre will recruit 38,800 teachers and support staff for 740 Eklavya Model residential schools serving 3.5 lakh tribal students

01 Feb 2023, 11:55:08 AM IST

Budget: 30 skill India centres to be set up across India

01 Feb 2023, 11:51:43 AM IST

FM Budget of PM-AY: Pradhan Mantri Awas Yojna allocation increased by 66% to ₹79,000 crore

01 Feb 2023, 11:49:52 AM IST

FM Budget Speech Highlights: PAN to be used as common identifier for all digital systems; KYC system to be simplified

PAN will be used as common identifier for all digital systems of specified Govt agencies. 

National Data Governance Policy will enable anonymised data; KYC process will be simplified by adopting risk-based system

01 Feb 2023, 11:45:43 AM IST

FM on Ease of Doing Business for MSMEs: Reduced compliance and decriminalisation of legal provisions

FM says that more than 39,000 compliances have been reduced and over 3,400 legal provisions decriminalised

01 Feb 2023, 11:44:30 AM IST

FM Budget speech highlights: Centre to continue 50-year interest-free loans to state governments for one more year

01 Feb 2023, 11:41:26 AM IST

FM Speech Highlights on Research and Technology: Pharmaceuticals and AI

- New programme to promote research in pharmaceuticals

- Three centres of excellence for Artificial Intelligence ecosystem

- 100 Labs to develop 5G technologies and applications

01 Feb 2023, 11:39:32 AM IST

FM Speech Highlights on Green Growth through Clean Plants and Sustainable Cities

- Govt to launch a 2,200 crore Aatmanirbhar clean plant programme

 - Sustainable cities for tomorrow: Rs10,000 crore for urban planning reforms for modernization of urban cities.

- Green Growth: 35,000 crore for green transition

01 Feb 2023, 11:36:38 AM IST

FM Budget Speech on Railway Capex: Railway capex budget increased to ₹2.4 trillion

01 Feb 2023, 11:35:00 AM IST

Adani Stock Slump Worsens as Key Share Sale Fails to Lift Mood

The crisis of confidence plaguing Gautam Adani is deepening, as a worsening rout in stocks shows the Indian tycoon’s ability to pull off a key share sale has failed to lessen wider concerns about Hindenburg Research’s fraud allegations.

All of the 10 stocks tied to the billionaire’s Adani Group dropped in Mumbai trading, with Adani Total Gas Ltd. leading the declines with a 10% plunge, a daily limit. Adani Enterprises Ltd., the conglomerate’s flagship firm that completed a $2.5 billion follow-on stock sale Tuesday, lost as much as 3.7%.

The declines show that Adani Enterprises’ latest fundraising isn’t enough to restore investor confidence, with US-based Hindenburg’s scathing report erasing $76 billion, or nearly one third of the market value from the group’s stocks. Prolonged weakness in the shares may also undermine broader sentiment toward India, until recently a top investment destination for Wall Street.

“It is a wait-and-watch situation. They have obviously found the investors but concerns of Hindenburg Research have not been addressed," said Brian Freitas, an analyst at Smartkarma. (Bloomberg)

01 Feb 2023, 11:30:31 AM IST

FM's budget speech: Capital expenditure outlay is being increased by 33% to 10 lakh crores—3.3% of GDP. This will be 3 times the outlay in FY19. Effective capex will be ₹13.7 lakh cr; forming 4.5% of GDP

01 Feb 2023, 11:28:41 AM IST

FM's budget on green growth: Implementing policies for green growth. Green policies will help reduce carbon intensity and promote green jobs

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