"Articles 15(4) and 16(4) (dealing with provision for socially and educationally backward classes, and reservation) do not put any limit on the percentage of quota and there is no constitutional hurdle in increasing the same," Sharad Pawar said.
RBI Governor Shaktikanta Das has assured Finance Minister Nirmala Sitharaman that the Rs 12.05-trillion gross borrowing programme for FY22 will go through smoothly.
With Donald Trump the appeal has to be to his business instincts in which his personal interests seem to play a significant role, says former foreign secretary Kanwal Sibal.
Data late on Wednesday showed consumer price inflation eased more than-expected to a 25-month low of 8.10 per cent in February, while industrial output unexpectedly expanded, albeit only by 0.1 per cent.
In New York, the dollar edged down against the yen for the first time in three sessions as investors weighed economic data and remarks from outgoing Federal Reserve Chairman Ben Bernanke.
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India's share of 2015 emerging market allocations will be driven by FII perceptions on likely growth and reform.
The S&P BSE Sensex shed 286 points to close at 24,539 and the Nifty50 lost 100 points to end at 7,456.
India has become the 37th country to join the list of Strategic Trade Authorization-1 category, the only South Asian nation.
The Supreme Court has refused to interfere with the government and RBI's loan moratorium policy, and declined to extend the six-month loan moratorium period.
'Unless India ups the ante, Beijing will continue to believe its transgressions are cost free and will feel encouraged to do more of the same.'
Assocham expressed concern over the precarious situation that the manufacturing sector is in, observing that if the trend does not reverse with monetary and fiscal measures it would be difficult for the industry to generate jobs.
According to technical analysts, the Nifty could trade in the range between 7,400 and 7,700.
With Deputy Governor Viral Acharya and another member Chetan Ghate voting for a status quo, RBI governor Shaktikanta Das and three others outvoted them for reduction in repo rate to 6.25 per cent from the existing 6.50 per cent.
Conversely a rate hike may have positive effects if it triggers currency appreciation.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
S&P is the only of the three major credit agencies with a 'negative' outlook on India.
Market breadth turned negative with 1,779 declines over 884 advances on the BSE
Sensex, Nifty post biggest weekly fall this year on inflation data.
Global gold demand has seen a year-on-year decline of 8 per cent during the April-June period to 948.4 tonnes and going ahead further monetary tightening and continued dollar strength may pose headwinds, says a report. According to the WGC Gold Demand Trends Q2 2022 report, the total gold demand during the second quarter of 2021 stood at 1,031.8 tonnes. The year-on-year demand was affected by increase in gold electronic traded funds (ETFs) outflow, decline in Central banks buying and lower demand from the technology segment, the report said.
The rupee has posted its biggest single-day fall in more than four months to end at 62.95 against the dollar.
Broader market outperformed the benchmark indices with S&P BSE Midcap gaining over 1%
The S&P BSE Midcap and the S&P BSE Smallcap indices added 0.5% and 0.7%, respectively
A fundraiser for the Aligarh Muslim University hosted in California saw keynote speakers talk about the plight of Indian Muslims and a way out.
RBI Governor Shaktikanta Das said the central bank saw economic growth slowdown in February, prompting it to cut rates ahead of the curve and wondered why markets were surprised with the decision to pause rate reduction. Noting that there is a need for an "informed and objective discussion" on the country's economy, Das said the RBI would do "whatever is necessary" to address growth slowdown, spikes in inflation as well to ensure good health of banks and non-bank lenders. The apex bank went for five consecutive rate cuts starting in February this year, making it a cumulative reduction of 1.35 per cent.
Foreign portfolio investors (FPIs) have pulled out Rs 4,515 crore from the equities segment in the first half of July as they turn cautious towards the Indian market. "With markets trading near all-time high, FPIs would have chosen to book profits. "They have also been staying on the sidelines given high valuations and most likely on the back of the risk of a potential third wave of the coronavirus pandemic," said Morningstar India associate director (manager research) Himanshu Srivastava. Though the continuing firmness in the dollar and the possibility of rising bond yields in the US do not augur well for capital flows into emerging markets like India, there is no immediate worry at the moment, he said.
The repo rate or the short term lending rate was increased to 7.5 per cent from 7.25 per cent.
Interest rate sensitive stocks gain ground post decision
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
Prime Minister Modi felt there were too many silos with no arrangement to take a comprehensive view on national security. The PM has entrusted NSA Ajit Doval to evolve a comprehensive roadmap and get it implemented, reveals Nitin Gokhale, Editor-in-Chief, Strategic News International.
Monetary policy stance to depend on inflation data
Analysts say lack of strong moves in stocks or sectors contributed to markets moving indecisively.
The time is ripe to extend the confrontation with the Chinese to the maritime domain, says former RA&W officer Krishan Varma.
For July-September, it pegged CPI-based retail inflation at 4.2 per cent which it saw firming up to 4.8 per cent in the second half of the current fiscal.
Had India agreed to join the trade pact, Indian markets would have been flooded with cheap Chinese products.
India has not been able to compete with countries such as Bangladesh and Vietnam.
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
Foreign portfolio investors (FPIs) remained net buyers to the tune of Rs 12,266 crore in the Indian market in the first five trading sessions of February, as positive sentiment post-Union Budget 2021 sparked a rally in investment.
External Affairs Minister S Jaishankar left London at the end of a four-day visit to the United Kingdom on Friday with a message of convergence as the two countries agreed on an ambitious '2030 Roadmap' towards a Free Trade Agreement (FTA).
The large current account deficit and the growing vulnerability on the external front have largely contributed towards the secular decline and the current volatility of the rupee.
She also addressed the Indian Community at a reception held in her honour in Jakarta.
