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Overall exports of India increased by 5.4% year-over-year (+$1.4bn) during January 2021
Ministry of Commerce and Industry
A bad bank for a good economy
“In Covid parlance, this is like setting up a jumbo quarantine centre for NPAs. However, for treatment it will require a large number of ventilators, which effectively are distressed debt funds with risk appetite to acquire these NPAs. Vaccine, or permanent cure, of course, lies in enhancing underwriting skills, and oversight mechanism to arrest deterioration of credit quality,” said Hari Hara Mishra, director at UV ARC on govt’s move to set up a bad bank for toxic loans.
Boosting capital expenditure
- Capital expenditure will increase to Rs 5.5 lakh crore from Rs 4.4 lakh crore
- It will help lay the foundation of strong recovery in the next fiscal year
Tourism industry disappointed with ‘never seen before’ Budget
Lack of immediate direct support in the budget has disappointed the Indian travel and tourism industry: Nakul Anand, ITC Hotels
Rupee opens on a flat note, rises 1 paisa to 73.01 against US dollar in early trade
This budget will promote wellness tourism in India
– Union Minister of State for Culture and Tourism (Independent Charge) Prahlad Singh Patel
Strengthening the research ecosystem
- The Finance Minister said that in her Budget Speech of July 2019, She had announced the National Research Foundation and added that the NRF outlay will be of Rs. 50,000 crore, over 5 years.
- It will ensure that the overall research ecosystem of the country is strengthened with focus on identified national-priority thrust areas.
Understanding fiscal position
Sensex soars 1,300 points, extends Budget rally
Price of gold will come down. There is a lot of pent-up demand in the market and the reduction in duty will unleash that demand
– Ahammed MP, chairman of Kozhikode-based international jewellery retailer Malabar Gold & Diamonds
Govt to add over 1.4 lakh jobs between 2019 and March 1, 2021
- 2,207–Department of Agriculture, Cooperation and Farmers’ Welfare
- 1,058– Ministry of Civil Aviation
- 12,537– Defence Ministry
- 3,638– Culture Ministry
- 2,859– Ministry of Earth Sciences
- 2,263– Ministry of Environment, Forests and Climate Change
- 2,204– Ministry of External Affairs
- 2,139– Department of Commerce
- 1,452– Ministry of Electronics
- 4,072– Department of Health and Family Welfare
- 5,305– Ministry of Mines
- 2,419– the Ministry of Labour and Employment
- 1,848– the Ministry of Information and Broadcasting
- 1,456– Department of Water Resources, River Development and Ganga Rejuvenation
- 995– Department of Animal Husbandry and Dairying
- 651– Department of Fisheries between
- 2,684– Ministry of Personnel, Public Grievances and Pensions
Sensex soars 751.66 points to 49,352.27 in opening trade
Nifty climbs 222.65 points to 14,503.85
The setting up of the Development finance institution is a historic move; the…
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