Yes Bank topped the gainers' list on the Sensex. It was followed by HDFC, Bajaj Finance, HDFC Bank, ICICI Bank, L&T, SBI, Axis Bank and Kotak Bank -- rallying up to 5.24 per cent.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
The S&P BSE Small-cap index has recovered 26 per cent as compared to a 23 per cent rise in the S&P BSE Sensex.
'We built it in the last three years and then one day, they came and they said you have to close it'
ADB, which came out with a Special Note on economies, however, kept the projections for India and China unchanged 8.2 per cent and 9.6 per cent, respectively.
Concerns over economic slowdown, muted earnings, crisis in the auto industry and global trade issues have been weighing on investor sentiment, experts said.
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
India should be satisfied with the outcome of the recently concluded G20 summit in Toronto since its argument against a quick withdrawal of stimulus measures by developed nations had, to an extent, been accepted, according to US economic experts.
'Clearly, the next few months will be very challenging for industry.' 'We are clearly in a phase where recovery is a dream.'
Investors turned cautious weighing weak GDP numbers and continued drop in automobile sales, bringing banking and auto sector stocks under pressure.
'In countries like Japan, one out of 11.7 tests turns out to be positive, which is among the highest in the world. Italy tests 6.7 persons for one positive test while the USA tests 5.3 persons and the United Kingdom 3.4'
The stimulus packages should continue for another year or at least till October 31, he said, pointing out that the economy is yet to achieve the pre-crisis level of nine per cent.
In the past four months, $7.5 billion has flowed back into domestic stocks, helping the benchmark indices bounce back more than 40 per cent from their 2020 lows.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
However, the hefty initial gains of the rupee, which had jumped to 61.05 intra-day, were substantially erased on month-end demand for US dollars from private oil firms and some defence-related purchases, amid fall in domestic stocks.
There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
In return for these services, China would 'sell-back' some of the more than $800 billion in debt held by it.
The plan could mature into either an umbrella programme for urban youths similar to the Garib Kalyan Rozgaar Abhiyaan or a modified urban-focused version of MGNREGS.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
India last year announced tax cuts and increased expenditure to prop up the economy hit by the global economic slowdown.
Companies in China, South Korea and Indonesia pay 25 per cent tax, while those in Malaysia pay 24 per cent. Only Japan has a higher tax than India at 30.6 per cent. Hong Kong has the lowest corporate tax rate of 16.5 per cent while Singapore has 17 per cent rate and Thailand and Vietnam levy 20 per cent tax on companies.
'She'll probably be leading some significant portfolio from the White House, the way that Vice President Biden did in the Obama White House.'
The two Congressmen are Mario Diaz-Balart and Ben McAdams.
The first fatality from COVID-19 was reported from the Washington state on February 26.
Of this $2 billion is Banking Sector Support Loan, which will provide budgetary support to India, helping it maintain its broad economic stimulus program by enhancing the capital of select public sector banks.
The Reserve Bank of India on Friday said that the Budget 20010-11 presented by Finance Minister Pranab Mukherjee is in line with the path of fiscal consolidation and economic revival.
While a coordinated aggressive monetary easing from the central banks is most likely to offer some respite in the near-term, it is unlikely to improve the sentiments.
China's economy, which suffered 6.8 per cent slump in the first quarter due to the coronavirus pandemic -- the worst in 44 years -- bounced back posting 4.9 per cent growth between July and September buoyed by the government's sweeping efforts to stimulate demand and consumption.
As Prime Minister Manmohan Singh shared with industry leaders in New Delhi on Sunday, his government's intent to wind down stimulus measures next year, Mukherjee told reporters in St Andrews, Scotland, that he had already told Parliament high fiscal deficit was not sustainable in the long run.
Manufactured goods, which have around 80 per cent weight in the index of industrial production, which measures industrial growth, grew by 12.7 per cent in November 2009 compared to 2.7 per cent in the same month a year ago.
Major subsidies must be knifed before unwinding excise cuts
Indian funds did better than Asian ones in only four of the 10 months -- till October. Despite much market optimism, presumably around policy interventions and guided by buoyant flows, India's macro backdrop may be turning for the worse.
'We first need to acknowledge the truth.' 'We are trying to diminish the problem and say, everything is okay and green shoots are emerging.' 'Imagine you are a doctor and not getting accurate medical reports, how do you diagnose and treat the illness?' 'We are not dealing with a terminal illness here, we are dealing with BP and cholesterol, which are imminently curable.'
The study showed that 50 per cent of households have reduced the number of meals ever since the lockdown was imposed
'This year was a very difficult time for me, or for any finance minister.'
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
India on Friday exuded confidence that its economy will expand by 9-10 per cent in the near future -- a rate that was inconceivable till a year ago -- helped by stimulus measures.
'If such inflows materialise, what will be the effect on the rupee's value -- and therefore on exports growth, the only sustainable path to recovery?', asks Mihir S Sharma.
Oil price have started rising as President Barack Obama's efforts to win backing for a military strike against Syria cleared its first hurdle.
This week's G20 summit is in danger of over-promising and under-delivering - but it is still worth watching for any initiatives to kick-start global trade, says Julian Jessop at Capital Economics.
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