Two former defence ministry officials and a retired army man were on Tuesday sentenced to four years in jail by a Delhi court for causing loss of over Rs 7.3 crore to the state exchequer by drawing payment for material which was never supplied.
They will be remanded to 11 days judicial custody.
The 30-share Sensex ended up 142 points at 29,462 and the 50-share Nifty gained 26 points to end at 8,895.
Foreign brokerage Goldman Sachs on Monday said it expects new Finance Minister Arun Jaitley to peg the fiscal deficit target for FY15 at 4.3 per cent, up from the 4.1 per cent stated by his predecessor P Chidambaram.
The government's dependence on debt has come down from 27 paise in the previous Budget to 25 paise in the coming year, reflecting ease of pressure on revenue collections.
Biggest culprit behind India's eroding tax base is excise
There is also a buzz about Shah joining the government. About 60 ministers may take oath.
In his hard-hitting speech at a gathering of ex-servicemen, the prime minister referred to the Bofors scam, AgustaWestland chopper scam, Rafale issue and inordinate delays in procurement of critical military platforms and ammunition by previous government.
As India's international role expands, so must our capabilities, says Brigadier Gurmeet Kanwal (retd).
Chinese President Xi Jinping has announced that the 2.3 million strong People's Liberation Army, the world's largest, will be trimmed by three lakh.
Nirmala Sitharaman's elevation not only to full Cabinet minister but also pitchforking her to the elite Cabinet Committee on Security group with the defence portfolio is undoubtedly the biggest takeaway from Sunday's reshuffle, says Rajeev Sharma.
Mere shuffling of resources or cosmetic changes to prove a point would be counterproductive in the long run, observes Commodore Venugoptal Menon (retd).
Jaitley's fiscal arithmetic, Crisil said, is "shaky", and the scope for fiscal slippage "remains high".
The DMK parliamentary party appears to be a house divided, reports R Rajagopalan.
The National Democratic Alliance on Monday night threatened to stall Parliament proceedings to press for the withdrawal of the second affidavit filed against Fernandes.
Jaitley has managed the difficult feat of sticking to the fiscal correction.
Congress leader Adhir Ranjan Chowdhury raised the Karnataka issue and accused the ruling party of 'poaching' its MLAs in the state.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
The government is looking into the complaints about the procedure to determine the winner of the multi-billion dollar combat aircraft deal, Defence Minister A K Antony said on Thursday while admitting that there was no money to sign such a big deal in this fiscal.
For every rupee in government kitty, as much as one-fourth will come from market borrowing in 2014-15 while 20 paise would be spent towards interest payment.
Dipam is conducting the selection of merchant bankers and legal advisors, and planning roadshows.
More people will be literate, on the Internet, linked to the national identification scheme and likely to receive electricity, especially from alternative-energy sources.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
ISRO needs next generation launchers and new facilities to manufacture and launch them.
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
The Centre said media reports cannot form the basis for seeking review of the judgement since it is well settled law that courts do not take decision on the basis of media reports.
'Modi's health scheme has changed the national conversation. For that reason it must be supported.'
Xi ordered country's 2.3 million-strong military to be absolutely loyal to the party, to focus on how to win in wars, to pioneer reforms and innovation, to scientifically manage commanding a unit, to lead troops in accordance with the strictest standards and to take the forefront in complying with laws and regulations.
Defence Minister Manohar Parrikar has voiced his concern at Dassault's reported reluctance to meet the terms of the IAF tender, which required the French company to guarantee the 108 fighters that HAL would build in India, after the first 18 were supplied fully-built in France.
The veteran admits Barca have defence problems, slams Dembele
With references to politicians and bureaucrats coming up in the chopper scam trial in Italy, the Defence Ministry is expected to seek clarifications on the issue from alleged middleman Guido Haschke during the next hearing of the case there.
This whirlwind of activity only confirms that rushing around creating an impression of pompous busy-ness is not the same thing as solving problems, argues Mitali Saran.
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