Good governance
– Need to cut subsidy leakages, not subsidies themselves. To achieve this, Government
committed to the process of rationalizing subsidies.
– Direct Transfer of Benefits to be extended further with a view to increase the number
of beneficiaries from 1 crore to 10.3 crore.
Agriculture
– Major steps take to address the two major factors critical to agricultural production,
that of soil and water. Continue reading
Three Key achievements:
Financial Inclusion – 12.5 crores families financially mainstreamed in 100 days.
Transparent Coal Block auctions to augment resources of the States.
Swachh Bharat is not only a programme to improve hygiene and cleanliness but has
become a movement to regenerate India. ]
Game changing reforms on the anvil:
♦ Goods and Service Tax (GST)
♦ Jan Dhan, Aadhar and Mobile (JAM) – for direct benefit transfer.
STATE OF ECONOMY
Asian shares edged higher in early trade on Friday and oil prices continued to rebound, even as investors remained wary ahead of the key US nonfarm payrolls report for January later in the session. Japan’s Nikkei Stock Average was up 0.6%, Hong Kong’s Hang Seng was trading down 0.2%, while China’s Shanghai Composite was trading down 1%.
Overnight, Wall Street indices resumed their upward momentum led by a rebound in oil prices and a huge takeover deal in the pharmaceutical sector, reports Financial Times. The Dow Jones Industrial Average closed flat; Nasdaq Composite and S&P 500 were up over 1% each.
India’s benchmark Sensex was trading marginally lower on Friday, led by shares of auto companies.
Investors were also cautious ahead of the Delhi Assembly polls which will be held on 7 February
At 9.35am, the 30-share S&P BSE Sensex fell 0.06%, or 16.86 points, at 28,867.83, while the National Stock Exchange’s broader 50-share Nifty was 0.05%, or 4.4 points, at 8,716.10.
Since 29 January, the Sensex has fell over 800 points and for the same period foreign investors has sold equities worth Rs.1,750 crore, according to BSE and NSE provisional data showed.
Among the gainers, Cipla Ltd rose 2.5% to Rs.678.75 while Infosys Ltd gained 1.8% to Rs.2,233.90. The company’s chief executive Vishal Sikka is making his first set of senior management changes at the company, as he seeks to strengthen its delivery and human resource functions as well as deploy trusted lieutenants to key positions.
Among the losers, Tata Motors Ltd fell 4.8% to Rs.561.45 after the company reported disappointed earnings. Its net profit fell 26% to Rs.3,580 crore in the December quarter and net sales rose 8.8% to Rs.69,121.61 crore. Mahindra and Mahindra Ltd (M&M) fell 2% to Rs.1,156.65.
Courtesy: Rediff.
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