The government received a host of suggestions concerning fiscal policy, taxation and green growth, among others, from various stakeholders during the customary pre-Budget meetings convened by the Finance Ministry through video conferencing. More than 170 invitees representing 9 stakeholder groups participated in 15 virtual meetings chaired by Finance Minister Nirmala Sitharaman, the Finance Ministry said in a release. The series of pre-Budget consultation meetings for Budget 2021-22 were held from December 14 to December 23, 2020, it said. This is the first time in the history of Budget making exercise that such consultations meetings were held in virtual mode due to the COVID-19 crisis. The stakeholder groups were from different sectors including financial and capital markets, health, education and rural development, water and sanitation, trade union and labour organization, services and trade, infrastructure, energy and climate change, agriculture and agro processing, indu
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What changed for the market while you were sleeping? Top 10 things to know
Trends on SGX Nifty indicate a negative start for the broader index in India. December 21, 2020 / 10:06 PM IST
The Indian stock market is expected to open lower as trends on SGX Nifty indicate a negative start for the index in India with a loss of 69 points.On December 18, benchmark indices recovered from the low point of the day and ended marginally higher with Nifty above 13,750. The Sensex was up 70.35 points or 0.15% at 46,960.69, and the Nifty was up 19.80 points or 0.14% at 13,760.50.
According to pivot charts, the key support levels for the Nifty are placed at 13,047.43, followed by 12,766.47. If the index moves up, the key resistance levels to watch out for are 13,693.43 and 14,058.47.
Centre mulls setting up bad bank among other options to improve banking sector: DEA Secretary
Tarun Bajaj was responding to a query on whether the government would consider setting up of a bad bank as a one-time measure for reducing the burden of Non-Performing Assets (NPAs) of the public sector banks
PTI | December 19, 2020 | Updated 10:59 IST
The government is exploring all options, including setting up of a bad bank, to improve the health of the country s banking sector, Economic Affairs Secretary Tarun Bajaj said on Friday. He also said the government has recapitalised public sector banks and continue to pump in capital as per requirements.
The Indian economy is now growing at a slight margin over the previous financial year on a year-on-year basis, after showing a decline in the rate of India’s gross domestic product contraction in the second quarter of FY21, said Economic Affairs Secretary Tarun Bajaj on Friday. Also by next year, sovereign bonds will be the part of global bond indices as the government is working on structuring such papers for overseas investors, he said. Referring to the Reserve Bank of India’s revised estimate of small growth in the third and the fourth quarters of FY21, the secretary said the government is hoping for robust growth next year, too, on base effect. “The pandemic has taken the sheen off this year, however, we are recovering from it and even crossing the 2019-20 growth figures by a slight margin,” Bajaj said in a panel discussion organised by Confederation of Indian Industry (CII).