"The deadline for transferring discoms' debt to state budget and issuing bonds for 50 percent outstanding was March 31, 2016. The Union Cabinet decided to extend this date to March 31, 2017," Finance Minister Arun Jaitley said at a press conference after the Union Cabinet meeting here.
Goldman Sachs believes near-term demand is likely to be weak due to monsoons, which could lead to seasonal weakness in prices but it remains structurally positive on the medium-term demand and supply outlook (especially after monsoon).
Satish Pai, Vice President of Aluminium Association of India says the 2 percent increase in import duty on aluminium, announced in the Union Budget, was negated by near doubling of green cess on coal, as 40 percent of aluminium's production cost is power.
In only three months, the government has had to give in to pressure from various trade unions to change its stance on employee provident funds -- which it had envisaged as a social security scheme and not as a savings account. A look into the key events that shaped the development.
Chief Minister N Chandrababu Naidu made a PowerPoint presentation to Union Rural Development Minister Chaudhary Birender Singh on the state's requirements and the steps taken to make AP drought-free in the next three years.
According to the study, companies in the construction sector continued to witness negative cash flows from operations in 2015-16, which is likely to improve gradually to near zero levels this fiscal as more orders procured during the last two years are executed.
"States are requested to align their focus to the thrust provided in the Union Budget to promote investment and growth in the rural sector... It is imperative to step up capital expenditure at state level also," Finance Secretary Ratan Watal said.
Just ahead of the Union Budget, with the market trading close to 23,000 levels and a lot of pessimism building in, Manishi Raychaudhuri of BNP Paribas told CNBC-TV18 he expects the benchmark to reach 29,000 by December this year.
The rupee resumed lower at 66.58 per dollar as against yesterday's closing level of 66.53 at the Interbank Foreign Exchange (Forex) market and dropped further to 66.64 on initial American currency demand from banks and importers on the back of higher dollar in overseas market.