Nifty Gains After Budget Focuses on Growth, Investment

Mumbai: The Nifty rose in a volatile trading session on Saturday after the government delivered a budget with investment-friendly measures, including a delay in tax avoidance rules for foreign investors and a cut in the corporate tax rate.

But broader gains were capped after the government also said it would push back its medium-term goal of cutting the fiscal deficit to 3 per cent of gross domestic product to 2017/18, one year later than previously expected.

The Nifty rose 0.65 per cent to end at 8,901.85 points after rising as much as 1.1 per cent and falling as much as 1 per cent.