Li's comments comes in the wake of speculation that the government could come up with a bailout package like the massive $645 billion in 2008-09 to insulate Chinese economy from global financial crisis.
Weakness of dollar in the overseas market also boosted the rupee value.
The negative aspect about the Budget is that the capital expenditure has been marginally cut to achieve the fiscal deficit target assumptions, and the onus of sustaining investment demand till private capex revives continues to vest with the public sector enterprises, notes Jyotivardhan Jaipuria.
Indian markets ended on a lower note after the stimulus announced by the European Central Bank (ECB) failed to meet expectation.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
These parties also asked the Centre to present a revised comprehensive economic package that will be a 'true stimulus' and sought reversal of all unilateral policy decisions, especially pertaining to labour laws, as they put forth a 11-point demand charter before the government during a virtual meeting, called by the Congress to discuss the situation arising out of the pandemic as well as the lockdown.
Moody's on Monday slashed India's growth forecast for 2020 to 5.4 per cent from 6.6 per cent projected earlier, on slower than expected economic recovery. In its update on Global Macro Outlook, Moody's Investors Service said India's economy has decelerated rapidly over the last 2 years and economic recovery is likely to be 'shallow'.
Federal Reserve's move has thrown financial markets into a spin.
Realty, consumer durables, capital goods lead losses, Broader markets underperform.
Current account deficit could ease to around 3 per cent in the current fiscal year from prior estimates of about 4 per cent due to sharp drop in global commodity prices.
In June alone, property investment was up only 3.5 per cent from a year ago.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
The rupee weakened against the dollar in late trades on Thursday tracking weakness in the equity markets.
The Reserve Bank's decision to cut interest rates will stimulate investment and help in anchoring inflationary expectations, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said.
The 30-share Sensex ended down 340 points at 17,906 after hitting an intra-day low of 17,807 and the 50-share Nifty ended down 99 points at 5,303 after touching an intra-day low of 5,268. Nifty touched the lowest level since September 11, 2012.
Metal shares like Sterlite Inds, Hindalco and Tata Steel dropped between 3-5%.
Markets will watch the policy meeting on June 18 and 19 for clues to a rollback of stimulus measures. Fed officials are divided over their ultra-easy monetary policy and some warn it could stoke future inflation and financial instability.
One culprit behind the poor recent performance of emerging markets is growing bond market volatility and the knock-on effect that that may be having on so-called carry trades, under which investors borrow money cheaply in one currency and then invest it for what they hope will be higher returns elsewhere.
The Bombay Stocks Exchange S&P BSE Sensex plunged by over 750 points, or 4%, its biggest fall in four years, to end at 18,598 on fear that the roll-back of US stimulus could spark selling pressure by the overseas investors in the equity space.
BHEL, YES Bank, RCom, Titan Ind, JP Associates, BF Utilities, Ruchi Soya and Punj Lloyd have tanked more than 10% each on BSE.
The broader markets ended higher with mid-caps and small-caps gaining nearly 0.1% on the BSE.
According to a CII statement, Godrej mentioned that in the given economic condition, it would have been natural to seek a stimulus including reductions in excise and service tax rates.
Despite the 3 per cent gain in September 2019, the FPI sell-off during the quarter has seen the benchmark indices - the S&P BSE Sensex and the Nifty 50 register negative returns in Q3CY19.
Markets end four-day losing streak led by shares of private banks, rebound in L&T and Tata Steel.
Just as very high oil prices looked an anomaly in a sluggish world, so now do record high equities.
Dollar sales by exporters and firm local equities also supported the local currency.
Deutsche Bank expects the Sensex to climb only 8% in 2017 to 29,000, and expects high volatility.
'Willing to spend is different from when to spend and how much to spend'
'I would like to convey the message to your readers that the prime minister himself is directly seized of the situation on the ground. He periodically reviews the situation on the ground and how it is moving forward, taking inputs from economists, business leaders, chambers of commerce.'
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