Describing note ban as "a boldstep", former Nasscom Chairman B V R Mohan Reddy today saidthe upcoming Budget is likely to take steps to strengthen thedemonetisation initiative by easing liquidity in the systemand stimulating demand.
As wholesale prices rose 3.39per cent in December, India Inc today said the focus should beon growth-oriented reforms that boost consumption, investmentand job creation, while economists opined that inflation mayrise in January and February.
"Performance-wise, this is a good year. Development and welfare happened very well and there is a positive result from the public," Yanamala told a press conference after a pre-budget meeting here today.
Government today replied to theElection Commission on the opposition complaint againstpresenting the Union Budget before Assembly elections,defending its decision to advance the budget session for thepurpose.
Government today said it would try to present the Motor Vehicles (Amendment) Bill which proposes hefty penalties for violation of traffic norms in the upcoming Budget session, soon after it receives it from Parliament's Joint Select Committee.
The central statistical organisation, the country's apex data body, will give an advance estimate of FY17 GDP with a disclaimer today, that it doesn't include the demonetisation impact. This might put the Finance Ministry in a bind as Budget calculations will be hampered.
The government may announce increase in agri-credit target to Rs 10-12 lakh crore in the 2017-18 Budget and even reduce the interest rates considering excessive cash flow in banks after demonetisation, consulting and accounting firm PwC India said today.
In the fourth day running, the mid cap index gave a good performance and the Bank Nifty led the way. Market turned out to be strong in the last hour of trade today. However, market experts advise treading cautiously as the next month is full of key events like the Union Budget and state elections.
A day after his party's leader in Lok Sabha, Sudip Bandyopadhyay, was arrested by CBI, West Bengal Finance Minister Amit Mitra today staged an angry walkout from a pre-Budget meeting saying there was 'financial emergency and 'political environment of fear' in the country.
The Election Commission today announced dates for the 5 states that go to polls this year. Questions have now been raised if it creates a constitutional problem since the Union Budget is already slated to be presented on February 1.
According to Angel Broking, In todays trading session, USDINR is expected to appreciate as the recent budget - like address to the nation on the eve of New Year by PM Narendra Modi will most likely keep the domestic markets and its currency positive.
Diversified conglomerate ITC Ltd was the top gainer in the trade today and was up 3 percent. The stock went up on the back of 14-15 percent price hike in two of its product offerings that is 69 mm cigarettes and 74 mm cigarettes.