"If there is proper debate in parliament, followed by a vote, then even without the Congress' support, we have a chance to pass it," says Union Minister of State for Finance, Jayant Sinha.
Industry asked the government to be 'brave and bold' and said that it will rise to the occasion.
Bank of America Merrill Lynch believes this would ease pressures on CAD as $10 a bbl fall in oil price reduces CAD by $8 billion or 0.4 per cent of GDP.
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As many as nine respondents said RBI would hold the repo rate at 8% till March-end, 2015
The Sensex closed the day at 27,490, higher by 479 points and the Nifty ended at 8331.95, up 150.45 points.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
RBI Governor has been under pressure from Finance Ministry.
A revival in investment is likely to be a key near-term initiative.
The Sensex ended up 244 points at 28,504 on strong global cues.
Rajan's deputy Khan cautions against early celebration of falling inflation, unhedged forex exposure.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
While some companies, such as HSBC, have closed retail operations, big players such as India Infoline is scaling down.
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