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Sensex at Bombay Stock Exchange gains about 300 points

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Bombay stock markets have been strong, so far today. Sensex  gained considerably more ground, and had spurted a good 316 points, or 1.1 percent, to 28,218 a short while ago and  Nifty at the National Stock Exchange had surged 98 points, to 8,705. Stocks rose across the board, on heavy buying by investors, with IT and auto sectors leading the rally. 

Reserve Bank of India Forecasts 7.6 percent GDP growth

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New Delhi-RBI said  economic growth of India appears brighter than during the last fiscal. In its Annual Report 2015-16, the RBI forecast 7.6 per cent GDP growth this fiscal, up from 7.2 per cent growth in the last fiscal.Governor of RBI noted, in the Annual Report, that the room to cut policy rates can emerge only if inflation is projected to fall further.He observed that the apex bank is also working with the government and banks on ensuring that banks have the capital to make provisions, support new lending, and thus pass on future possible rate cuts.

John Kerry to attend the India-US Strategic and Commercial Dialogue.
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New Delhi-US Secretary of State John Kerry is reaching India for  Strategic and Commercial Dialogue between two countries. Mr Kerry will also hold meetings with senior Indian officials.The meeting will be co-chaired by Union ministers Sushma Swaraj and  Nirmala Sitharaman along with their US counterparts Kerry and Secretary of Commerce Penny Pritzker.Mr Barack Obama and  Narendra Modi had elevated the existing US-India Strategic Dialogue to the Strategic and Commercial Dialogue to reflect the growing significance of the US-India economic relationship in  January 2015.

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