In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.5% and 0.4%, respectively.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Apart from Bihar, Chhattisgarh and Jharkhand, where none of the estimated 6.7 million construction workers got cash transfer benefits, the coverage of the construction workers was the lowest in Delhi, where only about 5 per cent of the estimated workers received cash under the PMGKY, followed by Kerala and Uttar Pradesh (22 per cent), among major states. In India, construction workers belong to the unorganised sector but account for the highest share of non-farm jobs after manufacturing.
'At a time when the economy is depressed, a pandemic is raging, and the Chinese are making noises on the border, the NRC could be resuscitated.'
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
Realty sector is facing a huge slowdown for last 3-4 years, leading to a significant delays in possession of flats to customers.
'Unless we get the health and economic situations right at the same time, we will not recover.'
There is discrimination against women in insurance cover. As a flood of insurance companies tap the capital markets with public issues, there is however, hardly any reference to this asymmetry. Subhomoy Bhattacharjee reports
The global economy may just be entering a new phase.
Nine advisory committees to suggest sector-wise solutions.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
Side indices raced ahead with BSE Midcap and BSE Smallcap advancing 0.4% and 0.3% up, respectively.
The rupee appreciated by three paise to close at one-week high of 60.81 against the US dollar in the previous session on sustained dollar selling by exporters and capital inflows.
With almost all opposition parties too backing the 'Bharat bandh' and many announcing parallel protests in support of the farmers, the Centre has issued an advisory directing the states and Union Territories to tighten security and ensure peace is maintained.
'Fiscal purists would quarrel with the idea of selling assets to pay for current expenditure -- such as the payout to farmers and the health insurance programme -- for the obvious reason that the process cannot go on forever.' 'At some point, the list of assets available for sale will run out,' notes T N Ninan.consultations -- something already aired in connection with the lease of airports to the Adani group, says T N Ninan.
... if high oil prices persist or stock prices correct sharply.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
In the worst-case scenario, it will be next to impossible for tech companies like Amazon and Google to run any service that requires user biometrics.
The pandemic has brutally highlighted the inadequacy of India's administrative systems. And, the government has demonstrated its culpable inability to speed up vaccination in a timely manner, says Jaimini Bhagwati.
Stepped up public expenditure must be accompanied by focused policies, advises Vinayak Chatterjee.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
The PM said that the Union Budget will accelerate the economic growth, financially empower every citizen and strengthen the foundation of the economy in the new decade.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
Moody's said the government will face challenges in achieving its deficit target for the fiscal year ending March 2021, amid persistent structural and cyclical headwinds to growth.
The BSE Midcap and the BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
The root of the problem, according to industry officials, is the sudden stoppage of lines of credit to tea plantation companies.
The pandemic has forced us to reflect and re-evaluate our old habits and perceptions, says Anamika Sengupta.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
'In the real economy, the scars of the pandemic will continue to define 2021.' 'It is still hard to tell the effect on unemployment, migrant workers, poverty, and the informal sector of the lockdown and of the pandemic,' observes Mihir S Sharma.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Offenders will be tried under Prevention of Money Laundering Act
Tightening restrictions further in select urban areas to help prevent the spread of Covid-19, Tamil Nadu Chief Minister K Palaniswami on Friday announced a complete shutdown beginning Sunday in Chennai, Coimbatore and Madurai for four days, disallowing grocery shops as well and fully curtailing the movement of public. Also, Salem and Tirupur in western Tamil Nadu will be shut similarly, albeit for three days from April 26, and Palaniswami assured people that vegetables and fruits shall reach their doorsteps via mobile outlets.
Bankers gave money to Mallya's airline though it was not enough to even service existing debt?
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
