Citizens' Issues
Finance minister allocates Rs.38,500 crore for MNREGA
New Delhi : Union Finance Minister Arun Jaitley on Monday allocated Rs.38,500 crore for schemes under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
 
He announced this while presenting the 2016-17 annual budget in the Lok Sabha.
 
In the 2015-16 budget, the allocation for MGNREGA was Rs.34,699 crore.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Government allocates Rs.9,000 crore for Swachh Bharat Abhiyan
New Delhi : The central government on Monday announced allocation of Rs.9,000 crore for the Swachh Bharat Abhiyan (Clean India Campaign) in the country.
 
"The concept of Swachh Bharat was very close to the heart of Father of the Nation Mahatma Gandhi. Keeping this in mind, the government has decided to allocate Rs.9,000 crore for the Swachh Bharat Abhiyan," said Finance Minister Arun Jaitley, presenting the general budget for 2016-17 in the Lok Sabha.
 
Swachh Bharat Abhiyan is a national campaign of the central government, covering 4,041 statutory cities and towns, to clean the streets, roads and other infrastructure.
 
The campaign was officially launched on October 2, 2014. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Nifty, Sensex not yet out of the woods
A disappointing budget may push the market down again
 
We had mentioned in last week closing report that Nifty, Sensex will struggle to head higher. The week began with a positive close on Monday. However, following three trading session, the indices closed much lower. On Friday, there was mild recovery thanks to strong market rallies in US, Asia and Europe. Over the week, the Sensex lost 555points, while Nifty declined by 181 points. 
 
 
A rally in Asia, Europe and US premarket futures supported a rise in Indian equity markets on Monday. The week began with anticipation about the two crucial Indian budgets to be tabled by the ministers overseeing the finance and railways portfolios. We mentioned that Nifty rally may reverse if it closes below 7,150.
 
On Tuesday, the index closed below the 7150 level and suffered a sharp correction bringing to pause the four days of weak upmove. Investors' confidence was eroded by the continuing conflict between the ruling NDA (National Democratic Alliance) and the opposition, which is seen as having a bearing on some key economic legislations that await parliamentary approval. The government was expected to push through major economic legislations like bankruptcy code and Goods and Services Tax (GST) Bill during the ongoing Budget session.
 
On Wednesday, Indian stock markets suffered a further correction of more than 1.30%-1.50%. The key indices of the Indian equity markets opened on a negative note in sync with their Asian peers and Tuesday's lower close at the US indices. Caution, just a day ahead of the railway budget and F&O (futures and options) expiry, dragged the equity markets lower. Market sentiments were also affected by the softening of crude oil prices, which declined by 1.72% to $31.33, and negative global markets, deterred investors from chasing stock prices higher.
 
On Thursday market was lukewarm to the rail budget. Nifty was pulled lower in the noon session to hit a six-day low. Investors' sentiments were subdued after the railway minister failed to announce big ticket capital expenditure projects in his budget speech, so as to meet the government's fiscal deficit targets. Further, investors took notice of the fact that railway revenue targets might not be met due to a slowdown in economic activity and that the government looked at monetising the internal resources for fund mobilization. On Friday Nifty the market opened 1% higher following rallies in all global markets but gave. It gave up some gains in the morning but after noon shot higher to end the day 0.85% higher.
 
The Economic Survey 2015-16 tabled in Parliament by Finance Minister Arun Jaitley on Friday forecast a GDP growth for 2016-17 in the 7% to 7.75% range. The Economic Survey 2015-16 claims that the country's macro-economy is stable, founded on the government's commitment to fiscal consolidation and low inflation. Major public investment has been undertaken to strengthen the country's infrastructure, claims the survey. The survey has expressed concern over approval of GST Bill being elusive so far and the disinvestment programme falling short of targets. It also states that corporate and bank balance sheets remain stressed affecting the prospects for reviving private investments. The survey cautions that if the world economy remains weak, India's growth will face considerable headwinds. 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)