July 4, 2019 / 10:31 AM / in 16 days

Indian shares settle higher ahead of budget

* NSE closes 0.25% up, BSE 0.17% higher

* Nifty PSU bank index closes 1.28% up

BENGALURU, July 4 (Reuters) - Indian shares closed higher on Thursday, a day before the federal budget that is expected to cut taxes on business and raise spending to breathe some life into a stagnating economy.

Earlier in the day, India’s government forecast economic growth could get back up to 7% this year, but cautioned it will face challenges keeping its fiscal deficit in check.

The broader NSE index closed 0.25% higher at 11,946.75, while the benchmark BSE index settled 0.17% firmer at 39,908.06.

The Nifty PSU bank index, which tracks India’s state-owned lenders, finished the session 1.28% higher.

For the midday report, see (Reporting by Chandini Monnappa in Bengaluru; editing by Gopakumar Warrier)

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