PBs twisty take on the top five headlines of the day.
1. petrol prices cut by Rs 3.02 and diesel hiked Rs 1.47
Not a very welcome change as all diesel car owners suffer. Then public transportation cost will increase, prices of essentials will increase. “The current level of international product prices of Petrol & Diesel and rupee-dollar exchange rate warrant decrease in price of Petrol and increase in price of Diesel, the impact of which is being passed on to the consumers with this price revision,” said IOC, the country’s largest fuel retailer.
2. Sensex Goes For a Wild Ride on Budget Day, Ends Lower
From the Nifty-50 basket of stocks, 33 stocks declined while 17 stocks advanced. The overall market breadth was negative as 1,398 stocks declined while 1,085 stocks advanced.
3. Ishrat Jehan Case Files Being Re-examined By Home Ministry
The ruling BJP alleges that the Congress government wanted to hide Ishrat’s terror links as it ran contrary to the party’s political line – that she was shot in cold blood on orders from the Gujarat government. This time Chiddu is heading towards Tihar. Nothing new for Congress. They can stoop to any low to keep power and undermine Modi beyond anyone’s imagination.
4. Modi Government Unveils Fire-Fighting Budget To Win Back Voters, Sustain Growth
The budget does not show the concern of our Govt regarding badly needed and alarmingly depleted military hardware especially for 8airforce. There is no investment by Govt on developing sophisticated technologies. With screw driver technologies, which advanced countries are giving us there can not be real “make in India”. At the moment we have only *assembled in India*.
5. Kejriwal’s car attacked by protesters in Ludhiana
The Aam Aadmi Party alleged that it was an “orchestrated attack” and that police stood by as Mr. Kejriwal’s car was targeted with rods and stones. The AAP lashed out at the ruling Akali Dal in Punjab over the attack.
6. Budget is pro-village, pro-poor, pro-farmer: Narendra Modi
Seems that this budget only shows that Government wants to target market failure problem in India. Whether it will succeed or not will depend on micro level implementation of the funds allocated to plans in budget.