"The government has expressed its decision to adopt the path of fiscal rectitude. Thus the previous government borrowings figure of Rs 5.80 lakh crore has been pared to Rs 3.48 lakh crore. This leaves of a gap of more than Rs two lakh crore," SEBI wholetime member G Mahalingam said at an Assocham seminar here today.
Finance Minister Arun Jaitley today said Sebi is evolving as per the requirements of the economy and markets as a professional organisation, as he discussed his Budget initiatives with the markets regulator.
Enraged by his "raincoat jibe" against Manmohan Singh, Congress today announced that it will boycott Prime Minister Narendra Modi in Parliament during the entire budget session and will try to bring on board other opposition parties too.
Government today dismissed the suggestion for State funding of elections, saying it is not practical in the Indian context, even as it expressed openness to modify the Budget proposal for capping cash donations at Rs 2000 per source and issuing electoral bonds.
Opposition in Rajya Sabha today tore into the government for presenting a "disappointing" budget, with Congress leader P Chidambaram terming note ban as the "most terrible" decision and alleging that graft and black money have continued to thrive and large sections adversely affected.
The Budget-induced optimism got a leg to stand on as the Sensex today pushed higher for the fourth day by scoring 199 points to close at 28,439 -- a 4-month high -- after hopes built up that RBI might go in for a rate cut at the Wednesday's policy meet.
The BSE today had a stellar listing on the NSE at Rs 1089, up 35 percent over the issue price of Rs 806. SP Tulsian of sptulsian.com, however, is not convinced with its valuation on back of low growth.
Indian equities are likely to start off on a soft note today taking a breather from the two-day post-Budget rally which led the Sensex closing at a 4-month high Thursday. Indicator SGX Nifty was up 19 points at 8753.50.
Brushing aside criticism thatUnion Budget 2017-18 has done nothing to create jobs, NitiAayog member Bibek Debroy today said it aims to promote growthand encourage entrepreneurship which will lead to moreemployment opportunities.
The Budget presented today focusses on ramping up spending on infrastructure, provides the necessary impetus to Housing for All program and continues the structural reforms initiated couple of years ago.
Union Budget presented today may not have pleased many but in our view it was strong on fiscal prudence, rural development, affordable housing thereby providing the much needed impetus for capital expenditure.
Finance Minister Arun Jaitley, in his Budget speech today, proposed merging of all oil public sector units (PSUs) to create one integrated company. It a welcome move and will create synergies in the sector, said the oil minister Dharmendra Pradhan.
Scientific ministries have beenearmarked Rs 37,435 crore in this year's budget, Union FinanceMinister Arun Jaitley today said, with the Department of Spacewitnessing a maximum hike of over Rs 1,000 crore in itsallocation.
The steel industry today welcomed the Budget proposals and hoped that focus on areas such as ports, roads, affordable housing, physical infrastructure should provide the steel sector necessary impetus to meet its growth targets.