'This has to be seen in the context not only of the legacy we inherited, but also of global economic weakness.'
'If after inheriting the very bad situation we have reached this level despite consecutive years of drought and no growth in the world economy, it is no accident.' 'It is a result of the sound macro economic policies followed by this government.' 'We have eschewed populism and stuck to a path of fiscal prudence.'
At 15.05 PM, the 30-share Sensex was up 281 points at 28,238 and the 50-share Nifty gained 86 points at 8,577
Progress on several parameters creates a tipping point situation.
The 30-share Sensex dropped 298 points to end at 27,209 and the 50-share Nifty has lost 93 points to end at 8,174.
Investors booked profits at higher levels despite the growth oriented Budget.
Curbing the federal deficit is the government's absolute priority on February 28.
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'India is doing better than when we took office 17 months ago'.
An asset swap can simultaneously boost public investment, reduce the fiscal deficit and keep fiscal policy from being pro-cyclical.
There are conflicting signs on India's investment cycle.
There was hope in some quarters that the interim Budget would boost sentiment and lay the groundwork for kick-starting the investment cycle, while staying on a path of fiscal consolidation.
The event was attended by senior Congress leaders such as former prime minister Manmohan Singh
With Jaitley preferring continuity over change, good days might take a little longer to arrive, says Shankar Acharya.
'There is no change in the overall story of economic recovery.'
Sunday's results may be a bitter pill that the Congress has to swallow -- that its future cannot be hitched to Rahul unless he can resonate with the people, feels Saroj Nagi.
The most immediate cause of worry is the recent volatility in foreign exchange markets, Prime Minister Manmohan Singh tells the Assocham annual general meeting.
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