The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was sharply higher by 0.62 per cent at 93.96.
There was a "broad agreement" on five issues over which the 18 parties will target the government
Rating agency Icra on Wednesday said while there is some evidence of the economic recovery becoming broad-based in the third quarter of fiscal 2022, it is yet to attain the durability being sought by the Monetary Policy Committee (MPC) as a precursor to policy transmission. The agency expects the real GDP to expand 6-6.5 per cent year-on-year in the third quarter of FY2022 (+8.4 per cent in Q2 FY2022). It also sees the RBI maintaining the status quo in the upcoming monetary policy review to be held in February.
'Day by day, the queues will shorten.'
According to reports, eight hours have been allocated by the speaker for discussion on the tax reform bill.
Amid rising consumer complaints, the Central Consumer Protection Authority (CCPA) on Monday barred hotels and restaurants from levying service charge automatically or by default in food bills and allowed customers to file complaints in case of violation. The CCPA has issued guidelines for preventing unfair trade practices and violation of consumer rights with regard to levying of service charge. "No hotels or restaurants shall add service charge automatically or by default in the bill," CCPA chief commissioner said in the guideline.
Weak dollar against other currencies overseas supported the rupee
Here's a recap of events that occurred in India in the past 24 hours.
Ramesh says that since the attitude of the Narendra Modi government is deliberately provocative and confrontational, it should not expect cooperation from the Congress.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
Congress leader Jairam Ramesh interacts with readers on Rediff Chat as he discusses the period that changed India's history, forever.
Lok Sabha proceedings were adjourned for the day on Thursday following a request from the government that the Indian Antarctic Bill, 2022 be taken up for consideration when Opposition members are also present in the House.
GST has been hanging fire with the Opposition Congress yet to come on board
Investor wealth shrunk due to markets crashing on Wednesday.
The broader market outperformed with the S&P BSE Midcap down 0.3%, while the S&P BSE Smallcap was little changed.
A figure above 50 indicates that the sector is expanding, while a figure below that level means contraction.
The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the Budget next year, a top official said. Revenue secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services.
Two years of the NDA government have instituted significant reforms, including the passing of the GST bill in India but "cultural issues and saffronisation" have resulted in a slow incremental change instead of big bang reforms, according to a top American think-tank.
He said that the voices of the weak, did not reach the BJP and the RSS.
The introduction of GST would constitute India's biggest reform.
Technical rallies and short covering may arise only if the markets break this 500 point band
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
The market capitalisation of BSE-listed companies jumped to a record high of Rs 2,40,04,664.28 crore on Tuesday, driven by a rally in stocks that also saw the benchmark Sensex touching its lifetime peak of 53,887.98 points. Rallying for the second consecutive day on Tuesday, the 30-share BSE index closed at a fresh closing peak of 53,823.36 points, a jump of 872.73 points or 1.65 per cent. During the day, it zoomed 937.35 points to 53,887.98 points.
Stating that he had consistently held Singh in high respect, he expected the same from him.
The BSE Mid-Cap index was currently up 0.81%.
Rupee was impacted by renewed dollar demand from banks and importers amid sharp falls in equity market
The BJP's oldest ally Shiv Sena remained silent on the performance of the National Democratic Alliance regime.
Congress leader Rahul Gandhi on Monday said that repealing the three farm laws without a debate in Parliament shows that the government is "terrified" and knows that it has done something wrong.
There are two ways: Deliver a rapidly growing economic pie or reform GST and close corporate tax loopholes, suggests T N Ninan.
An insatiable quest for personal propaganda, event management and attractive slogans has made Modi sovernment as 'catch headline government'
After his statement, opposition leaders will speak and if required Singh may give a clarification, the sources said.
Accusing the ruling Bharatiya Janata Party of having "reaped benefits" of communal polarisation in the Lok Sabha elections, the Congress on Wednesday said the government should now focus on good governance and deliver on promises.
'With 1.3 billion consumers, India's market has great potential.'
In good times, analysts justify valuations giving interesting investment rationale.
Apart from Smriti, Ravi Shankar Prasad and Ananth Kumar took over as law and parliamentary affairs ministers respectively.
Sensex lacklustre, bluechips in focus.
'Prime Minister Modi stated several times that we shall not let this challenge go away without converting it into an opportunity to undertake systemic reforms.' 'And hasn't that been reiterated in action?'
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
Government on Thursday claimed that it had Congress "cornered" on the penultimate day of the Monsoon Session of the Parliament.
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