This is the first coal scam case in which the special court has delivered its judgement.
Sensex lacklustre, bluechips in focus.
The 30-share Sensex ended down 35 points at 26,349 and the 50-share Nifty ended down 20 points at 7,864.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
Janmejaya Sinha lays down Urjit Patel's agenda - cleaning up bank balance sheets, evaluating robustness of CPI and pushing for digitisation in financial services.
Jindal Steel and Power was the top loser down 10% followed by Hindalco, Tata Steel, Tata Power which ended down between 0.5-3% each.
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.
The Aam Aadmi Party (AAP) has to deal with 3 powerful enemies: the media, the political establishment, and business houses.
BSE Bankex and Telecom indices led the fall.
The govt must fix regulatory hurdles to ensure growth.
However, the budget arithmetic is slightly optimistic.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
The Bill comes at a time when prospective home buyers are avoiding under-construction projects, almost everywhere in the country, thereby drying up sources of interest-free funds for debt-ridden developer firms
The Opposition on Monday charged the government with trying to promote crony capitalism, creating fear by giving "unbridled power" to taxmen, trying to snoop into people's lives through increased use of Aadhaar through the provisions of the Finance Bill.
'If the government had not spent an incredible amount of energy on demonetisation it may -- may, because it had not done anything the previous six months either -- have been able to pay attention to the deeper problems of low investment and job creation.'
'The army has stopped short of exerting the sort of influence it may have done historically.' 'It is comfortable with its relations with the civilian government as the superior partner.'
Indian economy about to take-off
Expenditure cuts necessitated by slowing revenue growth, weak industrial activity worrisome portents
Three years ago Kevin Rebello made a promise to his parents and sister-in-law. That he will bring his younger brother Russel home, alive -- and, as hopes faded with each passing day -- or dead. That promise was fulfilled February 22, 2015, when sailor Russel's mortal remains were buried in a cemetery, close to a place where the two brothers spent their childhood. Prasanna D Zore/Rediff.com reports how a family faced its worst moments.
Shekhar Chakravarty has developed and patented Curvo -- world's first non-linear ropeway system.
'The UPA's claim of growth at 9.5 percent was absolute nonsense and a fraudulent claim because the country did not grow; it was only statistical growth.' 'I do believe that when there is a determined leader who wants to bring a desired change, the system will begin acting. Today, people think there is policy paralysis, but there is functional paralysis also.' 'When things start moving, people will invest. Many companies are holding cash, many people are not investing. Nobody is making any move. Everybody is waiting for the elections to get over.' Economist and Swadeshi Jagran Manch convenor Swaminathan Gurumurthy in conversation with Shobha Warrier/Rediff.com
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