Top headlines: India Inc to benefit from capex push; Modi hails Budget 2022

Business Standard brings you the top headlines on Tuesday

Budget 2022: India Inc to benefit from govt's massive capex push

The Union budget announcement to raise government capital expenditure by 35.4 per cent to Rs 7.5 trillion and increased orders for local defense companies will lead to additional orders for Indian companies including L&T, Thermax, Siemens, ABB, JSW Infrastructure, Bharat Forge and Tata group's defense and infrastructure companies.

Apart from participating in infrastructure projects such as new roads and highways, railways, Indian companies will also get orders in various other social welfare projects such as drinking water projects which was allocated Rs 60,000 crore and housing projects with an allocation of Rs 48,000 crore. Read more

Budget 2022: PM Modi hails 'people-friendly and progressive' budget

Prime Minister Narendra Modi on Tuesday said the Union Budget presented by Finance Minister Nirmala Sitharaman was people friendly, progressive and full of possibilities for infrastructure, investment, growth and jobs.

In a televised statement, Modi said an important aspect of the Union Budget was welfare of the poor. It seeks to solve contemporary problems and create new opportunities for the common people, he said. Read more

Amazon vs Future: SC sets aside HC orders, asks for fresh decision on merit

The Supreme Court Tuesday set aside three Delhi High Court orders including the refusal to grant a stay on the final arbitral award which had restrained Future Retail Ltd from going ahead with its Rs 24,731 crore merger deal with Reliance Retail and ordered fresh adjudication.

In a major relief to Future group, a bench headed by Chief Justice N V Ramana also set aside the high court's order of February 2 last year, by which it had directed Future Retail Ltd (FRL) to maintain status quo in relation to the merger deal. Read more

Budget 2022: Indian Railways capex at all-time high of Rs 2.45 trillion

With the government giving an extra thrust on the Gati Shakti Plan, the Indian railways is all set to see its highest ever capital expenditure of Rs 2.45 trillion for 2022-23, up 14 per cent from the revised estimate of Rs 2.15 trillion for the current financial year in the Union Budget for 2022 presented by finance minister Nirmala Sitharaman on Tuesday.

The capex for 2022-23 includes Rs 1.37 trillion from general revenues, Rs 1.08 trillion from Internal and Extra Budgetary Resources (IEBR) and Rs 200 crore from the Nirbhaya fund. Read more