The government has provided a long-term vision.
Learning perhaps from the Kargil debacle, Musharraf tried hard to evolve as a statesman in his dealings with India, recalls Rana Banerji, who headed the Pakistan desk at RA&W.
The 30-share Sensex surged 299 points to close at 28,736 and the 50-share Nifty gained 90 points to end at 8,723.
Auto stocks are weighing on the indices.
Wang began a two-day trip to Pakistan on Tuesday primarily to attend a meeting of the Council of Foreign Ministers of the Organisation Islamic Cooperation (OIC) as a special guest.
Stock market minnows put up a stellar show in 2021 giving returns of up to 60 per cent amid Dalal Street dream run and are likely to continue sailing northwards in the New Year too. Trumping pandemic-induced uncertainties, the Indian equity market posted stunning gains this year achieving several feats and smaller stocks benefited the most from the strong momentum. From reaching the momentous 50,000-mark in January to scaling 61,000-level in October, the BSE Sensex had an epic journey this year.
The PM blamed the UPA regime for the problems in the banking sector.
With time the start-up action plan will need to be tweaked and will need to move in the direction of removing both hurdles and privileges.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
India has been a core portfolio holding for emerging market funds.
A cut in rates would have encouraged the banks to lend aggressively on the retail front.
Gains in key IT, capital goods, healthcare and metal stocks, after consistent buying by domestic and foreign investors, helped both the key indices to scale new peaks.
Here are the key decisions announced by the Reserve Bank of India on Thursday.
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
'You want a steady, confident, self-assured and highly skilful hand at the till. 'It is a pity that the BJP has decided to deprive itself of such a hand at this politically sensitive time.' 'It is like sacking your surgeon in the middle of your brain surgery,' says S Muralidharan.
India's economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country's real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5 per cent.
Sensex, Nifty have lost about 6%, against 0.5-5% decline in other key Asian indices.
'Right now, politics is operating in a state of suspended animation. That works to Modi's advantage.'
In the near term, the key driver will still be the government's fiscal spending.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
Bankers said high interest rate could make Indian economy sluggish given that inflation is around 5%
Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction
'In the end, investing is about people.' 'If you get the right people, they make things happen,' Mengistu Alemayehu tells Shyamal Majumdar.
The BSE Mid-cap index gained 1.1% while the Small-cap index surged 1.3%, outperforming the benchmark indices
Adapting to an inevitable digital intervention is India's only hope at beating a long-standing job crisis. To do so, focus on quality education and better skill development is fundamental, says Dr Yogesh Kumar Bhatt.
Any NGO critical of the government is unlikely to receive a green signal. The new amendment will leave NGOs vulnerable to harassment. It was the NGO sector that helped provide compassion and food to millions of people during the lockdown. The new Bill will render such cooperation and camaraderie impossible in future, observes Rashme Sehgal.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
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.
The first signs of growing bonhomie between Modi and Rajan came early last year, when Modi called Rajan the "best teacher" for explaining complex economic issues to him.
Total debt for listed Indian companies excluding financials fell only 4 per cent to $368 billion in the year ended in March 2015.
'Concerns about India's future are hampering private investment.' 'If the private sector sees strategy, teams and execution on these issues, this will inspire confidence in India.' 'This should be our main strategy for 2017,' says Ajay Shah.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
'Modi is likely to make more announcements to win or retain popularity, and put himself at the centre of things even more than now,' says T N Ninan.
'Give cash assistance of Rs 75 per person per day and an android phone and you will see the economy reviving.'
The Reserve Bank is likely to cut the repo rate by 25 basis points (bps) after the Budget.
The use of Section 7 is fraught with risks to the autonomy of the central bank, the credibility of the government and the smooth functioning of the financial markets, says A K Bhattacharya.
Watal panel had suggested an independent payments regulator be set up.
In the broader market, the BSE Midcap was down 0.2%, while BSE Smallcap fell 0.1%.
