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.