Govt's LED drive to save over Rs 45,000 crore

Government's plan to change 77 crore conventional bulbs and 3.5 crore conventional street lights with LED range would save Rs 45,500 crore by reducing 21,500 MW electricity demand, said the Economic Survey 2015-16. National LED programme will also facilitate India's commitment towards reducing its emission intensity per unit of GDP by 33-35 percent by 2030 under its Intended Nationally Determined Contribution (INDC).

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Macro Economic Survey 2016: Govt must retain 3.5% fisc deficit goal ; FY17 GDP growth 7-7.5%

Even as the debate over fiscal prudence versus growth rages, the Macro Economic Survey for 2016 has voted for fiscal discipline, saying that 'credibility and optimality argue for adhering to 3.5 percent fiscal deficit target' for FY17. The Survey said that the government needs to be in a strong position to service its debt. At the same time, the Survey has also forecast a difficult year ahead, with GDP growth for FY17 expected to be flat or lower at 7-7.5 percent.

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The market started off March series on a strong note with the Nifty reclaiming 7050 level, led by short covering in beaten down stocks in previous three consecutive sessions. The 30-share BSE Sensex rose 235.66 points or 1.03 percent to 23211.66 and the 50-share NSE Nifty climbed 78.55 points or 1.13 percent to 7049.15. Hindalco Industries, Adani Ports, Larsen & Toubro, SBI, Tata Motors, Vedanta, Cairn India, Power Grid Corp and Bank of Baroda gained 2-3 percent while ICICI Bank declined.

United Spirits will be in focus after liquor baron Vijay Mallya has agreed to give up his chairmanship and board position at India's top spirits company, ending months of acrimony with the company's new owner Britain's Diageo Plc. United Spirits will also be included in the F&O segment from today. Traders said that these moves will benefit the stock. 

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The S&P BSE Sensex surged over 200 points in morning trade on Friday ahead of Economic Survey. The rally in the index was led by gains in Infosys, L&T, Sun Pharma, HDFC, and Tata Motors.The Nifty50 was trading near its crucial level of 7050 supported by gains in power, metal, banks, auto, oil & gas, and realty stocks. 

Sensex fell for a third consecutive session on Thursday as caution prevailed ahead of the union budget due next week, while sentiment was further hit by weaker global markets and the expiry of derivatives contracts at the end of the session.

Less of taxes and a bit more in bank account

Union Budget 2016 is the time to be hopeful for most salaried individuals. For two years in a row Arun Jaitley has rewarded the salaried individuals with something or the other. Last year the Finance Minister gave an additional tax saving avenue of NPS by allowing an investment deduction of Rs 50000 under section 80CCD. He also hiked the health insurance tax benefit by Rs 10000. A year before that Finance Minister hiked the tax exemption limit by Rs 50000.

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Railway Budget 2016-17: 3 ways by which Suresh Prabhu aims to regain freight mkt share

Railway Minister Suresh Prabhu on Thursday outlined a three-pronged approach to help Railways regain its market share in freight haulage. From a high of close to 80 percent in 1951, Railways' share of freight has fallen below 20 percent. A combination of congested rail networks and a steady rise in freight rates to offset the losses in passenger revenues is to blame for this trend. 

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The market has opened flat on a very crucial day of February Future & options expiry and Rail Budget. The Sensex is up 2.37 points at 23091.30 and the Nifty is up 11.15 points or 0.2 percent at 7029.85. About 247 shares have advanced, 106 shares declined, and 20 shares are unchanged. Hindalco, ONGC, Tata Motors, ICICI Bank and BHEL are top gainers while NTPC, ITC, Hero MotoCorp, Dr Reddy's Labs and HDFC are losers in the Sensex.

Shares of companies dealing with Indian Railways turned highly volatile ahead of rail budget. Hind Rectifiers, Kalindee Rail, Kernex Microsystems and Titagarh Wagons were among the losers, down 1.6-6.2 per cent each.