Subhas Chander Garg, Economic Affairs Secretary, Ministry of Finance,  immediately after the Budgetary announcement had said the government will be completing merger of three public sector general insurers in FY 2018-19 and will list the new entity during the year.

The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of 2 per cent, while supporting growth,” the RBI said in a statement. 

The BSE Sensex cracked below the 34,000-mark by plunging about 1,275 points or 3.6 per cent in opening trade today due to across-the-board losses after investor sentiment was hit by a sell-off in world markets.
Following the downfall, the total market capitalisation of BSE listed companies eroded by Rs 4.95 trillion to Rs 14.3 trillion.

According to the depositories data, Foreign Portfolio Investors (FPIs) infused a net amount of Rs 13,781 crore in equities and Rs 8,473 crore in debt in January – translating into net inflows of Rs 22,254 crore ($ 3.5 billion). 
This comes following an outflow of over Rs 3,500 crore by FPIs from the capital markets (equity and debt) in December, depositories data showed. 

“The major part of today’s correction can be attributed to the budget announcement of imposition of long term capital gains tax on equity, introduction of tax on distributed income by equity oriented mutual funds and fiscal slippage.

Announcing the 3rd quarter performance, G Srinivasan, Chairman cum Managing Director, NIA, said, “The results of the company have improved substantially due to improvement in combined ratio. The drop in combined ratio was aided by lower claims ratio and operating expense ratio due to various steps taken by the company.”