In the tourism sector, a total number of 1.67 crore tourists (foreign and domestic) visited the state in the year 2018 indicating 5.93 per cent increase over the previous year which shows that the sector rebounded quickly after the floods of 2018.

The RBI has slashed interest rates by a cumulative 135 basis points this fiscal, making it the world's most aggressively easing major central bank.

Asian stocks edged up following record closes in Wall Street benchmarks after encouraging economic data, although investors kept an eye on developments in the coronavirus outbreak.

MSCI's broadest index of Asia Pacific shares outside Japan was up by 0.3 per cent while Japan's Nikkei stock index rose by 1.19 per cent. Shares in China rose by 0.5 per cent while stocks in Hong Kong climbed by 0.42 per cent in early trading.

Among stocks, index heavyweight Reliance Industries gained by 2.34 per cent at Rs 1,417.90 per share while Hero MotoCorp was up by 2.4 per cent at Rs 2,435 per share. Bharti Infratel, Hindalco, UltraTech Cement and HDFC Bank too edged higher by over 2 per cent each.

"We expect the industry to move the economy forward. The government is there to support the industry. We are putting money where assets have to be created. We have given the roadmap, Sitharaman said.

Hindustan Unilever Limited was the top gainer and moved up by 4.07 per cent to trade at Rs 2,159.35 per share. Asian Paint was up by 4 per cent, IndusInd Bank Limited by 3.37 per cent, and Nestle India by 3.28 per cent.

ASSOCHAM President Niranjan Hiranandani said the Budget proposals seem structured for medium- to long-term results. "We do not see anything which will have an immediate impact to kick-start the economy," he said.

PM Modi said, Government has given a lot of emphasis on four sectors agriculture, infrastructure, textiles and technology in the budget to increase the employment generation.