Tamil Nadu Agriculture Minister, MRK Panneerselvam, tabled a separate Agriculture Budget for the 2024-25 fiscal year in the State Assembly today. The minister allocated Rs 65.30 crore for millets in the Budget and also announced the ‘one village, one crop’ scheme in the document.
Further, the agriculture minister also proposed steps to reduce chemical fertilisers in paddy crop and announced measures to nurture villages to help them face climate change, reported PTI.
The stock markets exhibited volatile behaviour on Tuesday and threatened to erase the gains made over the last few sessions. As of 10:46 AM, the BSE Sensex gained about 30 points to stand at 72,737.98, while the NSE Nifty50 stood at a loss of 24 points at 22,098.35.
Background
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The stock markets opened trading on Tuesday in red. The BSE Sensex dropped a little over 100 points to 72,605.25 in early trade. The markets continued to behave volatile and backtracked a little over the gains made in the last trading session.
However, the markets continued to trade slightly higher in the session. As of 10:24 AM, the Sensex stood almost 100 points higher at 72,793.61. However, the NSE Nifty50 traded almost flat at 22,121.35, down by 0.90 points.
Both India and the US are scheduled to release their monetary policy meeting minutes in the week. The minutes will help provide insights to the market investors regarding the interest rate policy decisions ahead of the central banks in both countries.
Further, macroeconomic data such as jobless claims, S&P Global PMI data for manufacturing, services sectors, along with existing home sale numbers are scheduled to be released in the US towards the end of the week. Several officials from the Fed are also set to deliver their addresses in the week.
The HSBC Services PMI, Composite PMI, and Manufacturing PMI for the month of February for India is scheduled for the latter half of the week.
In the last trading session on Monday, both key equity benchmarks, Sensex and Nifty, settled higher marking the fifth consecutive session in green. The BSE Sensex settled at a gain of almost 300 points at 72,708, on the other hand, the NSE Nifty50 touched a fresh peak of 22,122, up 82 points.
The Bombay High Court (HC) on Monday called the CBI’s arrest of former ICICI Bank MD, Chanda Kochhar, and her husband, Deepak Kochhar, an ‘abuse of power’ with regards to a loan fraud case. The bench, comprising Justices Anuja Prabhudessai and N R Borkar, criticised the investigation agency’s actions, and said the arrest was “without application of mind and due regard to the law”. The ruling stated that the CBI failed to provide substantial evidence or circumstances to justify the arrest.
Notably, the arrest occurred on December 23, 2022, regarding the Videocon-ICICI Bank loan case.