Tag: fm nirmala sitaraman

The markets in India were trading firm in today's(1st February 2021) late morning deals as Finance Minister Nirmala Sitharaman began her Budget 2021 speech in the Parliament. Among the headline indices, the S&P BSE Sensex was trading at 46,820 levels, up 530 points. The broader Nifty50 index hovered above the 13,750 level. IndusInd Bank rallied 7 percent and was the top Sensex gainer, followed by ICICI Bank (up 4%). Besides, Titan, State Bank of India, and HDFC rose over 1 percent, each. The majority of the Nifty sectoral indices were trading with gains, led by the Nifty Bank index, up 1.5 percent. On the other hand, the Nifty Pharma index slipped 1.4 percent. The broader markets, meanwhile, slipped into the red, with the S&P BSE MidCap and SmallCap indices down 0.1 percent, each.

Finance Minister Nirmala Sitharaman will present her third Union Budget in Parliament at 11 am today. The Budget speech will be keenly watched not only by the domestic and foreign investors but also by various interest groups like farmers, anxious middle class, and corporate entities. As the Covid-19 pandemic hit India last year, the government witnessed a rising expenditure and tumbling revenue, even as at one stage economic activity came to a standstill due to the pandemic-induced lockdown. However, the economy is now in a recovery mode. On Friday,29th January 2021 the government tabled the Economic Survey 2020, which pegged India's real GDP growth at 11 percent in FY22. Meanwhile, the finance minister has promised a 'Budget like never before'. Read more