In reality, the budget is slightly less important that in any past year since most indirect tax decisions have been subsumed by the GST.

The agency said move will strengthen the balance sheets of these banks apart from improving their core capital.

At 10:12 am, the stock was trading 11.82 percent higher at 116.85 on BSE. The stock hit an intra day high of 118 on BSE. The stock was among the top three in terms of turnover on the BSE with trade amounting to Rs 3560 lakh.

The funding comes under Indradhanus plan of the government which promised Rs 70,000 crore over period of four years ending March 2019.