However, any further escalation on the geopolitical front is likely to add further depreciation pressure on the rupee and bond yields.
The House passed the measure in a 220-213 vote, which was postponed for hours by an angry overnight opposition speech from the chamber's top Republican. Elated Democrats gathered on the House floor to cheer the vote with waves of applause, while disgruntled Republicans called for order.
Thirty-eight years ago, Indira Gandhi had abolished bonded labour and now Sonia Gandhi wants the print and TV media to announce that there‘s no bonded labour anymore.
Nipun Sharma, Research Analyst, Mirae Asset Mgmt tells CNBC-TV18 that unless the government reduces loses in the sector and provides a reliable subsidy sharing mechanism, investor interest is going to be hard to come by in the oil and gas space.