If inflows continue, some experts see rupee touching 55 to the dollar, in the near term.
The intensity of fire and explosions at central ammunition depot at Pulgaon in Wardha district was such that seven of the victims were blown to pieces, a top police official said.
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'The rupee falling from 69 to 72 was not normal or justified by the fundamentals.' 'And therefore I treat this as temporary.'
Soon after taking over as RBI Governor on September 4, Raghuram Rajan had announced opening of a swap window facility to encourage banks to lure NRI funds.
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He said gold imports in October rose slightly to 23.5 tonnes.
Gold imports fell to 19.3 tonnes in November from a high of 162 tonnes in May in the wake of a series of curbs by both the government and the Reserve Bank of India.
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However, some experts, including RBI Governor Raghuram Rajan, have favoured doing away with curbs on gold imports because they lead to smuggling.
Ahead of the Budget, Finance Minister Arun Jaitley on Tuesday underlined the need for tax reforms and quick decision making to ensure stability in policy regime.
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The economy grew at a four year low of 4.4 per cent in the April-June quarter of current year.
HDFC Bank, ICICI Bank, HDFC and SBI contributed the most to the gains in the Sensex up between 2-3% each.
The Prime Minister's Economic Advisory Council Chief further said that 'inflation is showing signs of coming down and therefore attraction of financial products will be greater'.
The prime minister made a reference to orderly exit from unconventional monetary policies in the backdrop of splits between emerging markets and the US.
Mass downgrades of GDP projections make it likely that there will be another wave of FII selling fairly soon
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India's current account deficit is narrower than expected at $21.8 billion, or 4.9 per cent of gross domestic product, in the June quarter.
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The CAD in 2012-13 was at 4.7 per cent of GDP and in 2013-14 it will only 1.7 per cent, the Finance Minister said.
As many as 1,578 dedicated COVID hospitals are providing quality medical care.
BSE Oil & Gas, Healthcare and IT indices have surged by 3% each followed by counters like TECk, Banks, Realty, PSU, Power and Metal, all gaining between 1-2%.
Mayaram also said as of now, a shutdown of the US government is not likely to have a major impact on the Indian economy.
It's in the same boat as other emerging markets with current account deficits, but the recent capital-raising measures may help
Despite a higher CAD in the first quarter, capital inflows were broadly adequate to finance the current account gap, requiring only a marginal drawdown of foreign exchange reserves.
The three hour long meeting was attended by Secretaries of departments of Revenue, Expenditure, Financial services and Disinvestment.
Subdued Asian and European markets due to escalating trade war between the US and China mainly led to caution on domestic bourses, brokers said.
A veteran bullion analyst expects monthly import to average 50 tonnes till December.
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With India faced with high Current Account Deficit, FM has been visiting major global financial hubs like Japan, Germany, Hong Kong and Singapore, to project the country as a investment destination.
The government on Friday reduced the import tariff value on gold and silver to $420 per 10 grams and $645 per kg, respectively, taking cues from firm global prices.
Gold and silver imports declined 80.55 per cent to $1.05 billion in November after a slew of measures taken by the government to curb inbound shipments of the metal, aimed at narrowing the current account deficit.
Declining value of the rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases are some of the key issues which will keep Raghuram Rajan busy.
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India's economic growth slipped to decade low of 5 per cent in 2012-13 and in the current fiscal it estimated to be around the same level.
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Fresh dollar selling by exporters on hopes of fall in the USD after downward revision to that country's first quarter GDP growth also helped rupee recover as hopes surfaced that the Fed may delay the plan to taper of monetary stimulus.
The West Bengal state government has delayed project approvals. And now, the IT giants may look at other states as the centre is thinking of giving sops to SEZs
Chidambaram said banks have been asked to strictly adhere to the norms on gold imports.
The CAD, which represents the difference between exports and imports after considering cash remittances and payment, widened to a record high of 5.4 per cent of gross domestic product, or $22.3 billion, in the July-September quarter.
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