The government and the farm unions had reached some common ground on Wednesday to resolve the protesting farmers' concerns over rise in power tariff and penalties for stubble burning, but the two sides remained deadlocked over the main contentious issues of the repeal of three farm laws and a legal guarantee for MSP.
The 30-share Sensex ended down 215 points at 27,011.
The government on Tuesday announced Rs 900-crore allocation in the Budget for the newly set up Ministry of Cooperation for the 2022-23 fiscal, besides slashing Alternate Minimum Tax (AMT) on cooperative societies to 15 per cent and surcharge to 7 per cent, which nodal minister Amit Shah hailed saying it will boost the sector. Of the total allocation for the next fiscal, a significant amount of Rs 350 crore has been provided for digitisation of Primary Agriculture Cooperative Societies (PACs), while Rs 274 crore for an umbrella scheme 'Prosperity through Cooperatives' which would have a number of sub-components with the aim of all-round development of cooperatives in the country. For the first time, a separate budget of Rs 11 crore has been provided to Vaikunth Mehta National Institute of Cooperative Management (VAMNICON).
It is time to take a few macroeconomic risks to kick start the growth.
FM indicates adherence to fiscal road map, benign tax rates, correction in inverted duty structure
The Survey projected growth rate of 7-7.75 per cent for 2016-17 with downside risks due to weak global economic scenario.
The farmers' agitation, which has entered its fourth week, has also led to traffic diversions at various border points causing inconvenience to commuters.
While the tax holiday for the factory coming to an end might be a factor, many say the business model of Microsoft (which acquired Nokia's handset division last year), as well as freebies offered by the Vietnamese government, might also have played a role.
It would be a miracle indeed if we grow at 7/8 per cent a year over the current and next few years, says A V Rajwade
Even as India continues on the priority watch list of the Office of the US Trade Representative, strong voices from Washington, DC, have spoken out in favour of India, reports Aziz Haniffa/Rediff.com.
According to the police, Delhi-Ghazipur border remains closed for traffic due to the farmers' protests. The commuters are suggested to take alternate routes via Anad Vihar, Chilla, DND, Apsara, bhopra and Loni borders, it added.
Multi-asset funds offer exposure to gold, which tends to do well in times of geopolitical tensions and inflationary pressures, suggests Sanjay Kumar Singh.
Earning numbers of blue-chips, including ITC and SBI, due tomorrow.
Farmer leaders said they were making arrangements for the women coming from different parts of Punjab. Tents are being put up, a separate langar is being planned, and extra temporary toilets are being arranged, they added.
Tax problems and unfavourable WTO agreements are making Tamil Nadu's electronics corridor less attractive to companies.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
Here are 10 global and domestic factors.
There were heightened expectations from Budget 2017 after the impact of note ban on different sections but most remain unfulfilled.
The government on Wednesday unveiled the FTP for 2015-20.
Gujarat is a flourshing state but its business model is not so well accepted at national level.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
It has been also revealed that V G Siddhartha had written a letter to the Board of Directors and employees of Coffee Day Enterprises, saying he had 'failed as an entrepreneur'.
The farmers have said the weather will not dampen their spirit and they will continue the protest till their demands are met.
The government has brought in changes to the investment pattern for non-government provident funds, and superannuation and gratuity funds, enabling them to invest up to 5 per cent in the units of Category I and Category II alternative investment funds (AIFs), subject to some caveats. The development is part of the central government's strategy to channelise domestic savings and improve their returns to attract more investment in the said sectors. At present, these funds typically invest a minimum 45 per cent in government securities, besides new instruments, such as exchange-traded funds and real estate investment funds, while a portion in equity-related instruments.
The government and farm unions had reached some common ground on Wednesday to resolve protesting farmers' concerns over rise in power tariff and penalties for stubble burning.
Kavitha attacked the BJP government at the Centre, alleging it of using the investigation agencies to target political parties and leaders who do not subscribe to its ideology.
On Wednesday, the top court observed that the Centre's talks with the protesting farmers have 'not worked apparently' and were bound to fail, and said it will form a committee having representatives of both the sides, but the agitating leaders dismissed it as no solution.
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
RBI must balance the need for improving domestic bank credit demand and respond to lower inflation.
Launches of new homes reduced drastically this year.
While no specific state-oriented sops were rolled out, a strong thread of political wellness ran through the Budget.
If Prime Minister Narendra Modi fails to live up to the expectations that he has raised, it will be entirely his fault. He should have started by ending the IAS
Opposition members in the Lok Sabha on Monday blamed the Bharatiya Janata Party-led central government's policies for the price rise and accused it of ignoring the plight of common people, saying kitchens will soon "see a lockdown" if the Centre does not take corrective measures.
Budget might turn out to be neutral for the sector.
Phantom FDI refers to investments that pass through shell companies that have no real business activities and are tailor-made to cut tax liabilities.
The deadlock continues as the seventh round of talks with the Centre remained inconclusive, with the farmer groups sticking to their demand for the repeal of the three new laws, and the government listing out various benefits of the new Acts.
The agriculture ministry also reiterated it is ready to find a "logical solution" to the issues raised by protesting farmer unions.
Budget in the medium term aims to kick-start the investment cycle.
The Reserve Bank of India's (RBI) new rules for credit and debit cards came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.
