MARKET WRAP: Indices end higher ahead of Budget 2019, Nifty below 11,950

All that happened in markets today.

1:16 PM

Economic Survey 2019: Economy expected to rebound; FY20 growth pegged at 7%

Economic Survey 2019, tabled in Parliament on Thursday, painted an optimistic picture of the Indian economy, projecting the country’s gross domestic product (GDP) would grow at seven per cent in 2019-20, against a five-year low of 6.8 per cent the previous year, with political stability aiding a pick-up in demand and investments. The forecast is the same as the Reserve Bank of India’s reading, which in June lowered its projection by 20 basis points from 7.2 per cent. READ MORE

1:12 PM

Nifty PSU Bank index extends gain

1:10 PM

DHFL seeks Rs 1,500 cr fresh loans a month to service Rs 80,000 cr debt

Dewan Housing Finance Corp., an Indian mortgage lender that has delayed payment on some of its obligations, plans to ask banks to lend Rs 15 billion ($217 million) every month to help revive the company, a person with knowledge of the proposal said. The financier, which has about Rs 800 billion of obligations, will submit the resolution plan on July 10 to a consortium of seven lenders led by state-run Union Bank of India, the person said, asking not to be identified as the discussions are private. READ MORE

1:04 PM

Economic Survey on the importance of investment

Investment, especially private investment, is the “key driver” that drives demand, creates capacity, increases labour productivity, introduces new technology, allows creative destruction, and generates jobs. 

12:58 PM

Economic Survey on inflation

12:52 PM

NEWS ALERT | Economic Survey is quite candid about economic challenges: NITI Aayog VC Rajiv Kumar to CNBC TV18

12:51 PM

Vodafone Idea gains over 6%

12:47 PM

The cost of capital remains quite high in India, which affects investment prospects in the country: Economic Survey

-- Now that the foundations for expansion have been laid, it is now time to significantly lower the cost of capital.

12:46 PM

Economic Survey on role of job creation and earnings

"Dwarfs, which we define as small firms that never grow beyond their small size, dominates the Indian economy and holds back job creation and productivity."

The Economic Survey "recommends focusing incentives on infant firms, i.e. firms less than ten years of age, with the appropriate grandfathering of the existing pattern of incentives to MSMEs....reforms of restrictive labour regulation can foster job creation and capital accumulation in the states. The labour law changes are crucial also because they can enhance investment."
 

12:42 PM

Economic Survey on India's demographics

India has already entered this demographic phase of a high share of working age population, and will remain in this “demographic dividend” zone for over two decades."

".. keeping domestic interest rates high may not encourage savings behaviour; a mildly positive real rate is good enough."

12:38 PM

Economic Survey on exports:

"While it is true that world trade is currently facing some disruptions, India’s share in global exports is so low that it should focus on market share."

12:36 PM

NEWS ALERT | Job creation can indeed be fostered by encouraging investment: Economic Survey

12:33 PM

Economic Survey about economic uncertainty:

"..economic policy uncertainty index must become an important index that policymakers at the highest level monitor on a quarterly basis."

12:32 PM

Economic Survey about economic uncertainty:

" top-level policymakers must ensure that their policy actions are predictable, provide forward guidance on the stance of policy, maintain broad consistency in actual policy with the forward guidance, and reduce ambiguity/arbitrariness in policy implementation. To ensure predictability, the horizon over which policies will not be changed must be mandatorily specified so that investor can be provided the assurance about future policy certainty. While this will generate some constraints in policy making, such voluntary tying of policymakers’ hands is undertaken in several cases including the Fiscal Responsibility and Budget Management Act, the Monetary Policy Framework of the Reserve Bank of India."

12:29 PM

As data of societal interest is generated by the people, it should be “of the people, by the people, for the people”: Economic Survey