Budget 2017 offers hikes in government spending and cuts in taxes as Prime Minister Narendra Modi promises to help the poor and to win back the votes of those hit by his crackdown on "black money".
Finance Minister Arun Jaitley announced increases in spending on rural areas, infrastructure and fighting poverty, and sought to assure lawmakers and voters that the economic impact of the government's cash crackdown would wear off soon.
The following sectors/companies look set to benefit from the proposals in Budget 2017:
The Likely winners
* Real estate - Giving infrastructure status to affordable housing is meant to help developers raise money easily and cheaply, thereby reducing construction costs. Modi has promised housing for all by 2022.
Long term capital gains tax on property sales will be levied two years after the asset's purchase, reduced from three years previously. This should boost home sales, benefiting developers like DLF Ltd, Oberoi Realty, Godrej Properties and Prestige Estates.
* Infrastructure - Jaitley plans to spend Rs 396000 crore ($59 billion) on infrastructure projects in 2017/18, including Rs 640 billion rupees on national and state highways. The plan is already boosting infrastructure companies and should also benefit tourism and real estate.
* Consumer goods and retail - Jaitley aims to put more money in the hands of the middle class by halving the individual tax rate for those earning between Rs 250000 and Rs 500000 to 5%, and cutting corporate tax paid by small and medium enterprises to 25%.
* Agriculture - allocated spending on rural, agriculture and allied areas is set to rise 24% to Rs 187000 crore in 2017/18. Agriculture credit has been fixed at Rs 10 lakh rupees and a long-term irrigation fund has been allocated Rs 400 billion. This will boost farm incomes and outputs, and the rural economy.
* Gas importers - Jaitley has halved import tax on liquefied natural gas (LNG) to 2.5% to boost the use of cleaner fuel largely used by the power and fertilizer sectors.
(Compiled by Aditi Shah, reporting by India Company News Team; Editing by Ruth Pitchford)