Sensex in green in afternoon trade.
The Congress has asked Prime Minister Narendra Modi to take up the issue of former IPL chairman Lalit Modi's deportation during his ongoing visit to UK and to ensure that the "fugitive" and "black money exporter" is brought back.
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
Banks led the decline with Nifty Bank and BSE Bank index dropping over 3% each.
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
'A foot-in-mouth disorder seems to grip the government, and is growing chronic by the day,' says Sunil Sethi.
M R Venkatesh, chartered accountant turned political commentator tells Shobha Warrier/Rediff.com that Modi's war is not against the opposition parties or the Congress but against the bureaucracy and the establishment.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
How much do you know about Shah Jahan, Mumtaz Mahal and the Taj Mahal?
Finance Minister Arun Jaitley has said the larger interest of the public sector would be fully protected.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
Since 2000, India has had three serious droughts.
Post-Jayalalithaa AIADMK cannot take on the Narendra Modi dispensation like their late charismatic leader did it on several occasions in the past, says R Ramasubramanian.
Indian economy about to take-off
'I think governments -- whether this one or the ones earlier -- have not understood the strength of the Indian Railways... that it can easily add 2.5 per cent to GDP.'
Unless supported by investment, any spark of a recovery could be temporary, hint economists.
In private, AIADMK spokespersons say that the raid on Chief Secretary P Ramamohana Rao might be aimed at weakening the AIADMK, and demotivating the party from selecting/electing Jayalalithaa's confidante, Sasikala Natarajan, as her successor -- first as party head then possibly in the government, says N Sathiya Moorthy.
Customs and excise duty rates have been amended mainly to promote Make in India.
FIXES BY THE GOVERNMENT: Energy price fixed, tax issues linger.
Rate sensitive sectors rallied the most led by banks while metals surged on rebound in commodity prices
'Tax dodging through tax havens is one of the ways multinational corporations and the super-rich in India are using to evade taxes.'
The Survey projected growth rate of 7-7.75 per cent for 2016-17 with downside risks due to weak global economic scenario.
Pakistani Prime Minister Nawaz Sharif has cancelled his visit to WEF annual meeting after a deadly Taliban attack in his country.
'Modi has entered blunderland as he does not understand the army. He has actually meddled with the army, which is much more damaging than the ignorance of Sonia Gandhi and Manmohan Singh.' 'People had an impression that the BJP was different. Now it has been made very, very, plain that it is not.' 'Look at the contrast in the behaviour of the prime minister. When they burnt buses in Gujarat for an unjust demand, the prime minister addressed them in Gujarati while the army veterans were on relay hunger strike for the 74th day on that day, but no word on this from the PM.'
A look at few gurus who have attracted controversy in recent times.
'The numbers have been scaled down for the Trinamool Congress. Today, the upper number of victories seems to be 30, with 25 seats being the realistic option. The Trinamool Congress may still be the largest non-BJP, non-Congress party in the next Lok Sabha, but it may not make it to the Cabinet table, leave alone sit in the top chair,' says T V R Shenoy.
Aadhaar-related schemes and the Aadhaar Act exist on the assumption that Right to Privacy is not a Fundamental Right.
Rediff.com gives you a look at newbies in the Council of Ministers
'She has to get the funds, cut through bureaucratic flab, speed up modernisation, ensure planned acquisitions stick to timelines, make organisational changes and ensure the military is capable of performing the task that it is given,' says Brigadier S K Chatterjee (retd).
'It is the government's most important duty to ensure that when war breaks out, the armed forces are absolutely ready to face the adversary -- well equipped, well trained and in high spirits,' says Brigadier Gurmeet Kanwal (retd).
Admittedly, EVMs too have a UID number and any convergence of data can make the secret ballot system a party of history, warns Dr Gopal Krishna in the 5th part of his series against Aadhaar.
Those scheduled to attend the five-day WEF Annual meeting, beginning January 21, include more than 40 heads of state or government, including those from the UK, Australia, Japan, Iran, Israel, Pakistan, Brazil, Italy, Mauritius, Republic of Korea and Switzerland, WEF announced on Wednesday at a press conference in Geneva.
A look at few gurus who have attracted controversy in recent times.
India still has to go a long way to implement reforms in various sectors.
Several states that imposed prohibition in the past lifted it once revenue loss began to pinch
It is unusual to see Narendra Modi highlight his OBC status -- something he has never done in his long political career. Sheela Bhatt/Rediff.com examines Modi's compulsions for bringing his caste to the foreground
Babulal 'Bob' Bera, US Congressman Ami Bera's 83-year-old father, faces five years in prison.
Common people expect the government to be aggressive and opt for growth related measures in the upcoming Budget.
