The landmark bill to liberalise the insurance industry, which marks Prime Minister Narendra Modi's first stab at legislative reforms, will now go to a parliamentary committee, which will submit a report later this year.
ndia has said it is ready to sign the global trade deal as early as next month if other WTO members agree to its demand for concessions on food subsidies.
The domestic currency had lost 49 paise to close at a three-month low of 60.55 on Thursday on capital outflows after the US Fed trimmed its monthly bond buying programme by another $10 billion.
Introduced in 2012, the General Anti-Avoidance Rules, were aimed at companies routing money through tax havens such as Mauritius, but implementation was delayed after an uproar from investors who feared harassment from tax authorities.
The Bombay Stock Exchange has resumed trading after three hours on Thursday.
n New York market, the dollar posted second-quarter losses against nearly all major rivals yesterday, with the exception of the euro.
These sectors have underperformed the wider market over the past year and are seen having far more upside potential if the economy picks up thanks to Modi's reformist agenda.
Finance Minister Arun Jaitley presents his maiden budget next month and faces headwinds from a weak economy, a food inflation scare and now the risk that higher oil prices could swell the government's oil subsidy bill.
Modi, who was sworn in on Monday after a landslide election victory, has completed his government team.
The investment bank also says no ministries were merged even as some ministers were given more than one portfolio.
.jpg)
The benchmark has gained 2 per cent this week on continued hopes the incoming Narendra Modi government would unveil substantial economic reforms.
The moves by the RBI, announced late on Wednesday, should increase supplies of gold and brighten the earnings outlook for jewellery makers after the government took tough measures to curb imports last year, analysts said.
Politically, it will not be easy for Modi to take hard decisions such as raising fuel prices in the first budget, given the risk of higher inflation.
As part of the charm offensive, New Delhi has invited global regulators -- including the FDA -- to visit Indian production units to get first-hand evidence of measures taken to ensure the quality of locally manufactured generics.
A Priority Foreign Country is a status reserved for those nations that are the most egregious violators of intellectual property rights and have the most negative impact on US competitiveness abroad.
The finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.
A panel has recommended that the RBI should bring down CPI inflation to 4 per cent.
India said on Tuesday it was investigating US policies supporting solar panel makers, the latest move in an escalating row over renewable energy that has worsened already strained ties between the two countries.
The revision will do little to help the Congress party-led ruling alliance, which faces an uphill battle in elections due by May amid allegations of economic mismanagement, corruption scams and high inflation.
Tata Motors is trading at 8.32 times 12-month forward PE, just marginally away from 8.31 times for Sesa Sterlite, currently the cheapest in the 30-member Sensex.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances