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Democratic House Speaker Nancy Pelosi has said repeatedly that her chamber will not take up either bill until she has both in hand, meaning that months of work remain before Tuesday's measure would go to Biden's desk to be signed into law.

The United States Senate on Tuesday passed a $1 trillion infrastructure package that's a top priority for US President Joe Biden, a bipartisan victory for the White House that would provide the nation's biggest investment in decades in roads, bridges, airports, and waterways.

The vote was 69-30 within the 100-seat chamber, with 19 Republicans voting yes. Immediately the vote concluded, Senators began voting on a follow-up $3.5 trillion spending package that Democrats decide to pass without Republican votes.

Polls show that the drive to upgrade America's infrastructure, hammered out by a bipartisan group of senators over months of negotiations, is broadly fashionable for the general public.

The bill still has got to attend the House of Representatives and therefore the spirit of cooperation in Congress that led to Tuesday's vote will likely prove fleeting.

Senate legislator Chuck Schumer expects also to possess the votes to pass the budget resolution laying the groundwork for $3.5 trillion to be spent on healthcare, global climate change, and other Biden priorities that Democrats will almost certainly need to skip Republican objections during a maneuver referred to as "budget reconciliation."

"When the Senate is run with an open hand instead of a closed fist senators can accomplish big things," Schumer said shortly before the voting began.

Once that resolution is adopted, Democrats will begin crafting the reconciliation package for a vote on passage after they return from their summer break in September.

Democratic House Speaker Nancy Pelosi has said repeatedly that her chamber won't take up either bill until she has both in hand, meaning that months of labor remain before Tuesday's measure would attend Biden's desk to be signed into law.

The non-partisan Congressional Budget Office on Thursday said the infrastructure bill would increase federal budget deficits by $256 billion over 10 years -- an assessment rejected by negotiators who said the CBO was undercounting what proportion of revenue it might generate.

After working for 2 consecutive weekends on the infrastructure bill, a "vote-a-Rama" session that would run late into the evening is going to be the future for the Senate.

Senate legislator Mitch McConnell, who voted for the infrastructure bill, signaled that Republicans would attempt to use the voting sessions to select off support from moderate Democrats for what he called a "radical" larger spending package that might create a permanent state and inaugurate the most important peacetime tax-increase in US history.

"Every single senator is going to be happening record over and over and over," McConnell added. "We will debate, and that we will vote, and that we will get up, and that we are going to be counted, and therefore the people of this country will know exactly which senators fought for them."

The budget plan would offer various Senate committees with top-line spending levels for a good range of federal initiatives, including helping the elderly get home healthcare and more families afford infancy education.

It also would offer tuition-free junior college and foster major investments in programs to significantly reduce carbon emissions blamed for global climate change.

Later, Senate committees would need to fill within the details for many federal programs.

The budget blueprint was formally unveiled on Monday, an equivalent day a U.N. climate panel warned that heating was reaching emergency levels, or what U.N. Secretary-General Antonio Guterres described as a "code red for humanity."

Senate passage of the infrastructure bill and therefore the budget plan would clear the way for it to start a month-long summer break.

When Congress returns in September, it'll not only debate the massive investment measures but need to fund government activities for the financial year beginning on Oct. 1, increase Washington's borrowing authority and possibly attempt to pass a voting reform bill.

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The index has to hold above 16,250 zones to witness an up move towards 16,400 and then 16,500 zones, while on the downside support is seen at 16,150 and 16,000 levels, suggest experts.

The 

Indian stock exchange bounced back sharply after briefly turning red on August 10, supported by a rally in telecom, IT, and banking stocks. The Nifty50 closed above 16,250 while the S&P BSE Sensex saw a rally of quite 150 points.

The Nifty50 hit a record high of 16,359 while the S&P BSE Sensex recorded a high of 54,779 in trade today.

Let’s check out the ultimate tally on D-Street – the S&P BSE Sensex rose 151 points to 54,554 while the Nifty50 rose 21 points to shut at 16,280.

Sectorally, buying was seen in telecom, IT, also as banks while selling pressure was seen in metals, public sector, realty, and utilities.

"What started as a sell-off in metal stocks dramatically triggered a sell-off within the small-cap Index after rallying for several months. The Midcap Index and therefore the PSU banks too were also not spared as both investors and traders booked profits,” S Ranganathan, Head of Research at LKP Securities, said.

“The index at close quite honestly wasn't reflective of the market mood because the breadth was very weak,” he said.

On the broader markets front – the S&P BSE Midcap index fell 0.8 percent, and therefore the S&P BSE Small-cap index fell by quite 2 percent – underperforming the benchmark indices.

India VIX moved up by 0.83 percent from 12.60 to 12.70 levels. Overall, lower volatility indicates that bulls are holding the command and declines are being bought.

On the front of the choice, the utmost Put OI is placed at 15,000 followed by 16,000 strikes while maximum Call OI is seen at 16,500 followed by 16,300 strikes.

Options data suggests a broader trading home in between 16,000 and 16,500 zones while an instantaneous trading range is between 16,150 and 16,400 zones.

Here’s what experts suggest investors should do on August 10:

Chandan Taparia, vice chairman | Analyst-Derivatives, Motilal Oswal Financial ServicesThe last half of the session witnessed a pointy decline to 16,200 followed by a recovery of 80 points within the last hour. It formed a Doji kind of candle on a daily scale because it closed flat almost its opening levels.

Now, the index has got to hold above 16,250 zones to witness an up move towards 16,400 then 16,500 zones while on the downside support is seen at 16,150 and 16,000 levels.

Palak Kothari, Research Associate at Choice Broking

Technically, the Nifty index has been trading during a range and hasn’t broken its previous day low and sustained above an equivalent one, which indicates bullish strength within the counter.

Furthermore, the Index has taken support from 50-HMA, which supports upside movement within the counter. A momentum indicator RSI & MACD is showing positive strength and Stochastic is additionally with positive crossover on the daily chart, which indicates an extra bullish move.

At present, the Nifty index has an instantaneous resistance at 16,360 levels while downside support shifted up to 16,150 levels.

Rohit Single, Senior Technical Analyst at LKP Securities.

After a robust volatile session, the index managed to shut the day on a positive note at 16,280 and formed a Doji candle pattern on the daily chart for the second consecutive day which signals indecision within the markets.

The Nifty again respected the support zone of 16,200 needless to say , and that we witnessed an honest pull-back from an equivalent level which hints until holding above 16200 zone.

The index may even see some extension within the existing consolidation zone of 16,200-16,350 zone and either side breakout will decide the ultimate direction move.

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

The markets climbed well above the 16,300 marks and seemed all poised to shut above it too. However, there was a pointy and nervous sell-off mid-day which brought the index on the brink of 16,200.

We recovered well but didn't close above the 16,300 levels. Once we are successful in doing so, we'll witness a rally to 16,600 because the next target is for the Nifty.

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The company reported a net profit of Rs 82.2 crore in the quarter ended June 2021 and its revenue was up 226 percent at Rs 501 crore

Sona BLW Precision Forgings share price touched a 52-week high of Rs 559.65, rising quite 16 percent intraday on August 10 after the corporate reported a net income of Rs 82.2 crore within the quarter ended June 2021.

The company’s revenue was at Rs 501 crore, growing 226 percent YoY. the internet order book was at Rs 14,000 crore as of June 30, 2021.

"The stock has completed its eight weeks of listing being a replacement IPO listed on the summer solstice and scaled an all-time high. it's holding its short-term average and moved higher with sharp volumes with positive momentum within the sector," said Vikas Jain, Senior Research Analyst, Reliance Securities.

"The current up move can lead the stock higher almost Rs 538 levels being 61.8 percent Fibonacci move from rock bottom of Rs 333 levels post listing," he added.

The company shares made a robust market debut, closing 25 percent higher on Midsummer Day.

The stock closed the session at the day's high of Rs 362.85 on the BSE, rising 24.69 percent over the difficulty price of Rs 291 and hit the 20 percent upper circuit compared to the opening price of Rs 302.4.

At 1235 hours, Sona BLW Precision Forgings was quoting at Rs 545.10, up to Rs 65.05, or 13.55 percent on the BSE.

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Under the PM-KISAN scheme, an annual financial benefit of Rs 6,000 is provided to eligible beneficiary farmer families, payable in three equal four-monthly installments of Rs 2000 each.

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Investors should allocate funds towards funds having a maturity of up to 3 years to prevent portfolio shocks from rising interest rate risks.

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Job seekers want recruiters to disclose approximate salaries for the roles advertised so that they can make better decisions while applying for these positions.

Vini Ahuja, a 34-year-old software professional from Bengaluru, has been job looking for the past two months. the most important hurdle that she is facing thus far is that the incontrovertible fact that job positions being advertised doesn't offer any details about the salary and it's disclosed just one occasion a candidate has cleared the last round of selection.

"I have appeared for five interviews thus far and each place has an equivalent policy. In three cases, I acknowledged that the salary being offered was 15 percent less than my current CTC (cost-to-company). once we need to disclose our current salary and provides proof, why won't they," she wonders.

There is a rising demand among job seekers in India to urge proper salary disclosures for the positions advertised by recruiters. The request here is that albeit the precise salary can't be revealed, a ballpark should tend out.

The justification is that since companies insist that candidates disclose their current salaries, why shouldn't they too? And eventually, the salary is one among the crucial factors to make a decision whether or to not accept employment role.

Currently what happens during job interviews is that the compensation is discussed at the previous stage. due to this, it becomes a troublesome decision-making process for candidates.

Hiring managers would state that compensation may be a 'trade secret'. Fair point but what's the harm in giving a range? rather than saying Rs 28.7 lakh CTC for a software developer with 10 years of labor experience just say provides a range between Rs 25 lakh-30 lakh once a year .

This makes the method far easier. A candidate who currently earns Rs 35 lakh wouldn't consider applying for the role. rather than them rejecting the work offer at the last round supported the pay, it's way better to state the compensation upfront.

It also helps save time and shut critical positions quicker. tons of back-and-forth on pay happens between the candidate and therefore the company HR occurs after the ultimate interview has been cleared only because the figure isn't shared beforehand .

Varun Bose, a tax consultant from Kolkata had three rounds of interviews at a consulting company between March and July 2021. He had a good idea of the industry salaries and had agreed to use for this position (where he was approached by the company).

However only within the last week of July was he told the pay, which was actually 20 percent less than his current salary.

"I didn't take up the work but i actually regret the very fact that I could have applied at other places had this information been given before," he says.

Giving an indicative CTC upfront means time are often dedicated to interviewing relevant candidates to guage whether or not they are fit the stress of the work role. With this, the 'salary bargaining time gets significantly hamper and vacant positions might be filled during a few months.

If you expect transparency from employment seeker, it's essential that you simply be transparent too.

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The RBI MPC said it will continue with the accommodative stance as long as necessary to support a struggling economy hit by the COVID-19 pandemic.

The Federal Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC), on Transfiguration, kept the repo rate -- the key lending rate at which banks lend short-term rates to banks -- unchanged at 4 percent. The monetary policy stance has been retained at 'accommodative'. An accommodative stance means a rate hike is unlikely.

The MPC said it'll continue with the accommodative stance as long as necessary to support a struggling economy hit by the COVID-19 pandemic. The announcement came in line with what most economists predicted within the backdrop of a persistently high retail inflation and uncertainty surrounding the expansion.

Governor Shaktikanta Das cautioned against the threat of a possible third wave of the pandemic and guaranteed that the financial institution will remain vigilant. “The need of the hour isn't to drop out the guard and remain vigilant against any possibility of third-wave especially within the backdrop of rising infections in certain parts of the country,” RB Governor Shaktikanta Das said announcing the monetary policy.

The MPC has cut key lending rates by 250 basis points since February 2019 to support growth. The rate-setting panel said it'll closely watch the inflation-growth scenario going ahead while deciding the course of policy actions.

The RBI has increased the retail inflation estimate for the fiscal year 2021-22 to 5.7 percent from 5.1 percent projected earlier while retained the GDP growth target for the fiscal year at 9.5 percent.

Price pressures have stayed high within the recent months. The closely tracked Consumer Price Index-based inflation (CPI) for the month of June rose 6.26 percent, as food prices hardened further, and transportation costs rose thanks to higher petrol and diesel prices. The June print came slightly less than 6.30 percent for May, which was the very best in six months but continues to be above the MPC’s temperature of 2-6 percent.

Das said while the recent inflationary trend has evoked concerns, this is often more transitory in nature. Das emphasized that the conduct of MPC has been geared to rejuvenate growth. "Continued policy support is required to nurture a nascent economic recovery," Das said.

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ICICI Direct is bullish on Vinati Organics has recommended a buy rating on the stock with a target price of Rs 2300 in its research report dated August 02, 2021.

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The effort is part of a brand-building exercise by the Indian government to portray India as an international study destination

Education ministry estimates indicate that on the brink of 200,000 students travel abroad per annum for education, leading to an outflow of just about Rs 50,000 crore ($6.7 billion) per annum.

Don't be surprised if your favourite college or university sets up a campus within us or UK . the govt, under the University Grants Commission (UGC), will now allow colleges and universities to line up offshore campuses abroad.

Sources said that detailed guidelines on the category of institutes, supported academic history, batch size and courses, are going to be released by the govt within the coming weeks.

“This is a component of brand name building of Indian institutes. at the present, India isn't top-of-mind for international candidates, especially from the West, and that we want to vary that,” a politician said.

Once the rules are released, it's likely that an initial list of institutes is going to be involved to measure their interest in fixing campuses abroad.

What does this involve?

The internationalisation of India's education system has been a key focus of the National Education Policy (NEP) – 2020.

Addressing a virtual gathering on July 29, Prime Minister Narendra Modi had said an 'office of international education has been found out at 250-plus universities in India and this may enable them to draw in foreign students.

Education ministry estimates indicate that on the brink of 200,000 students travel abroad per annum for education, leading to an outflow of just about Rs 50,000 crore ($6.7 billion) per annum.

Conversely, it's estimated that 48,000 international students study in institutes across India.

Promoting 'Brand India'

The education ministry wants to market 'Brand India' as a study destination through a mixture of schemes, including global campuses, incentives to foreign institutes to line up Indian campuses, also as 'twinning programmes'.

“Many institutes in India have international alumni who are now employed in large corporations. The institutes are going to be asked to form use of this alumni network as a part of the brand-building exercise,” another government official said.

Once the Indian institutes found out about offshore campuses, they're going to be ready to give international students a teaser of what's on offer. These students would then be encouraged to require up other programmes at the Indian campuses.

Will it work?

While the Indian regulatory agency for universities, the University Grants Commission, will give the go-ahead to line up offshore campuses, the important test would dwell on getting approvals from country-specific regulators.

In us or UK, as an example, new institutes (even offshore campuses) would wish to line aside fixed capital for college kids and infrastructure. an in-depth verification of the institute's financial background, statement of purpose and safety standards is additionally administered .

Prashant Maheshwari, a foreign education consultant based in New Delhi, told Moneycontrol that albeit the Indian government is in a position to secure faster approvals through its diplomatic relations with a rustic, the initial students would primarily be Indian.

“If you check out the US for instance, students are very wary of latest entrants. albeit an Indian institute that features a 100-year legacy sets up an offshore campus within the US, say, in popular locations like NY, Boston, Texas or Atlanta, the initial batches could consist mostly of persons of Indian origin,” he said.

However, unlike former US President Donald Trump, current President Joe Biden is receptive to new educational institutes being found out.

President Joe Biden had stated in February 2021 that he plans to extend grants for brand spanking new and existing education institutes to enhance graduation rates and reduce income disparities.

Here, any educational institute helping improve career outcomes for low-income students, students of colour, first-generation students, and students with disabilities are going to be provided funding.

In the UK, the USP of an institute and whether it's needed within the country is assessed before approval is granted. it's not an easy statement, but 'evidence of need', because the UK government puts it.

This would mean that an Indian institute fixing a UK campus would wish historical evidence of how it's essential for UK residents and the way different its courses would be from those offered by existing higher-education institutes. Final approvals are supported by this data.

The West Africa and East Asia opportunity

Stephen Duraiswamy, the Managing Partner at study-abroad advisory BreakHigh Consulting, explained that rather than aiming for the standard Western markets, Indian institutes looking to expand via offshore campuses should target markets like West Africa and East Asia.

“Places like Ghana, Senegal, Nigeria, Taiwan and Mongolia are where Indian institutes should eye a presence. These regions would enjoy quality international education and that they also are home to an outsized ex-pat community, which can aid brand building for Indian institutes," he added.

Twinning programmes would be a precursor to the present offshore campus expansion. Here, students from India could study one semester at an institute abroad through a partnership and the other way around.

Once the offshore campuses are found out, Indian students in domestic campuses could also get a chance to pursue a neighbourhood of their degree programmes at these international locations.

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Central banks are under pressure from rising inflation but so far they have brushed it aside as ‘transitory.’