Pramit Brahmbhatt, CEO of Alpari India feels the rupee will be under some more pressure today owing to choppy equities. "With US budget uncertainties continuing and no major domestic results due till end of the week, rupee will track international developments for further cues," he adds.
With both Democrats and Republicans sticking to their stands on a new budget pushing the shutdown into the second day today, President Barack Obama has blamed a "reckless" opposition for the latest financial crisis that has forced up to one million workers off the job.
The US House of Representatives that has Republican majority today passed a stop-gap budget measure that would keep the government operating for a few months but defund President Barack Obama's health care law.
May 30, 2013 at 18:02 | Source:Business Wire India
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Notwithstanding government's failure to get the ambitious Food Security Bill passed in the Budget session, Prime Minister Manmohan Singh today said UPA is committed to make this law after considering "all opinions."
Faced with higher excise duty on its SUV models, homegrown auto major Mahindra and Mahindra today said it will be compelled to consider modifying its products to align with the new specifications for lower duty.
In the face of Opposition onslaught, Prime Minister Manmohan Singh today said he was "very confident" that Parliament will transact financial and other business in the remaining part of the Budget session.
In a breakthrough development today, the government managed to get consensus on the long pending land acquisition bill in an all party meeting, paving way for the bill to be introduced in the second half of the budget session beginning Monday.
US President Barack Obama today presented USD 377 trillion annual budget which he said will not only reduce the budget deficit but will also make America "a magnet for good jobs" and put the country on the path of economic prosperity
Days before the budget session of parliament resumes, Anand Mahindra And Pawan Goenka today met the revenue secretary to express their concerns on definition of sports utility vehicle for the purpose of excise duty.
A bill to replace the DGCA by a new aviation regulator with full operational and financial autonomy is likely to be tabled in Parliament in the next part of the Budget Session starting later this month, official sources said today.
The Tamil Nadu state budget was tabled today and there is some good news for the debt ridden state electricity board (SEB). The government has said that the power situation in Tamil Nadu is set to improve and the SEB will turn around in 3-4 years.
In a move that would help boost flow of overseas funds into Indian capital markets, regulator Sebi today allowed FIIs to offer government securities and corporate bonds as collaterals for their cash and derivative transactions on the stock exchanges.
Seeking to dispel fears over the state of economy, Finance Minister P Chidambaram today said the country will return to high growth of 7 per cent in two years and promised adequate public spending to stimulate it.