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Jammu and Kashmir administration has announced detailed austerity measures to promote fiscal discipline and ensure a balanced pace of expenditure without restricting operational efficiency. Financial Commissioner (additional chief secretary) in the Finance Department Atal Dulloo issued the guidelines in a three-page order addressed to government departments and autonomous bodies funded by the government and asked the administrative secretaries to ensure compliance with the measures. During the last quarter of the current financial year, the expenditure should be limited to 30 per cent of budget allocation and in the month of…

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Equity benchmark Sensex tumbled over 300 points in early trade on Monday, tracking losses in index majors Infosys, HDFC Bank and ICICI Bank amid concerns over the spread of the Omicron variant in the country and weak cues from global markets. The 30-share index was trading 311.11 points or 0.54 per cent lower at 57,385.35 in initial deals. Similarly, the Nifty fell 81.70 points or 0.48 per cent to 17,115. IndusInd Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by Maruti, Bajaj Finance,…

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Volatility is likely to continue in the stock market this week amid Omicron uncertainty and the RBI monetary policy meeting will be a key driver for benchmark indices going ahead, say analysts. It will be an event-packed week for the markets, with RBI policy and several macroeconomic numbers scheduled to be announced, they added. “Volatility is likely to continue amid Omicron uncertainty, RBI credit policy, and macroeconomic numbers. There are lots of news flows on the Omicron variant which are causing volatility in the market while on the domestic front…

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