Financials were the top losers after sharp gains in the previous session along with ITC
A bench comprising Chief Justice Uday Umesh Lalit and Justice Bela M Trivedi said it was sitting in a combination of two and according to a reference order on the matter, it should go before a bench of three judges for disposal.
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
The system has gone through three rounds of testing for its load-bearing capacity.
The rates of price rise in many services used by the common man, including hospital and nursing, cook, domestic help and bus (fare), among others, have also touched double digits during the last four years, putting a burden on disposable income.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
After the Covid-19 pandemic that derailed the economy since 2019, the Durga Puja festival in West Bengal is back with an estimated 20-30 per cent jump in festive spending. Retail sector is the key contributor to the state's Durga Puja economy which was Rs 32,377 crore in 2019, according to a British Council study conducted for the state government. Retail accounts for 85 per cent of the total puja economy and the rest is shared among pandal making, decoration, illumination, entertainment, advertisement, food & beverage and others.
The 30-share barometer remained up throughout and hit a high of 29,070.20, powered by a rally in RIL and other blue-chips. The index ended 215.74 points up, or 0.75 per cent, at 29,048.19 -- its highest closing since March 5, 2015, when it had closed at 29,448.95.
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
Unlike the first two stimulus packages, this time the focus would be on boosting demand.
BJP president Amit Shah is chairing the meeting attended by top party leaders from across the country.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
The proposed bullion bank can help settle gold loan accounts in gold terms, and promote existing gold schemes, along with launching schemes including gold-recurring deposits.
Market benchmarks Sensex and Nifty soared to new peaks on Tuesday, driven by gains mainly in metal, financial and IT stocks amid firm global cues and sustained foreign fund inflows. Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent.After surging to its record intra-day peak of 41,401.65, the 30-share BSE barometer settled 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17. Similarly, the broader NSE Nifty rallied 111.05 points, or 0.92 per cent, to its record closing high of 12,165.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
The NSE Nifty settled the day 96.80 points, or 0.94 per cent lower, at 10,224.95
Aditi Phadnis predicts frequent stand-offs between the Centre and states in the future.
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
The Sensex recorded a significant rise of 919.19 points, or 2.65 per cent while the Nifty gained 213.45 points, or 1.99 per cent, in the week.
He said, clothing, footwear and electronic sectors are large job creators and need big reforms.
We have to wait and see whether Jaitley's Budget speech translates into actions and desired outcomes, says T N C Rajagopalan.
'The 2024 election results will lead to much intense targeting of Modi, more intense debates, many more breakdowns in Parliament and many more movements on the streets.' 'The results have hit Modi's standing, and the politics of the Opposition parties will be sharply focused to ensure that Modi doesn't get back his charisma of being 'invincible' with help of State power.' Sheela Bhatt looks at the political situation through the prism of 2024 Lok Sabha election results.
The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
The dates of general elections in 2019 and the presentation of the final Budget of the Modi government are so far removed from each other that Jaitley is not under any pressure to present a populist Budget. Instead, he could well unveil an array of schemes and proposals that he believes are necessary for the economy, even if a few of them could be unpopular, says A K Bhattacharya.
The upcoming corporate results season and the approaching Union Budget kept investors on their toes
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
Call for fiscal autonomy to Union Territories with Assemblies may get louder with 'special status' to J&K in the Finance Commission, say experts.
Mitra also said currency demonetisation has led to closure of small industries and left hundreds jobless across the country
To give impetus to the real estate sector, Goyal proposed to extend the period of exemption from levy of tax on notional rent on unsold inventories from one year to two years.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
Top gainers in the Sensex pack include Yes Bank, TCS, Infosys, IndusInd Bank, HCL Tech, Bharti Airtel, HDFC, Sun Pharma, Bajaj Auto, ICICI Bank, Vedanta, Hero MotoCorp, ITC, Bajaj Finance, M&M and Tata Steel, surging up to 3.24 per cent.
The broader NSE Nifty reclaimed the 11,600 level, zooming 326 points or 2.9 per cent to settle at 11,600.20. Top gainers in the Sensex pack included Bajaj Finance, L&T, Asian Paints, ITC, Axis Bank, Kotak Bank, ICICI Bank, HDFC twins, Maruti and SBI, rallying up to 8.70 per cent.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Govt doesn't buy restaurants' input tax excuse and has swing into action and looking into profiteering complaints on social media against prominent restaurant and franchise chains.
...for others it would be an incentive to participate more robustly in equities and other tax instruments.
West Bengal Chief Minister Mamata Banerjee is arriving in New Delhi on Thursday for a four-day visit during which she is likely to meet senior leaders and attend a Niti Aayog meeting on August 7, sources said.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
'I want us not to underestimate Indian voters. They can tell good work from bad.'
