Finance minister P Chidambaram accepts that he is not satisfied with the progress but is confident that the government will last its full term. He expects significant economic reforms in the coming 12 months.
The market appears set to resume its uptrend after one of the best weeks in recent times even as the US market saw one of its worst weeks. This is a truncated week again with the stock market closed on Wednesday. Being an F&O expiry week, the usual volatility could set in after a good start.
The Budget Session in Parliament resumes and the Opposition is set to fire on all cylinders on a host of issues including the vetting of the CBI report on coal scam by Law Minister Ashwani Kumar. The deliberate leak into the 2G scam may also figure in the Opposition’s angst. The session ends on May 10 and the government will hope to push key bills including the Food Security Bill, Insurance and Pensions Bills before that.
Results watch: Cairn India, Mindtree, Persistent Sys, Zensar Tech, Tata Sponge, Swaraj Engines, Foseco India, Mahindra Lifesp, Manali Petro, Tamilnadu Petro, Ultratech Cem, Trinity League, Tata Sponge.