Key features of Budget 2011-2012

Swift and broad based growth in 2010-11 has put the economy back to its  pre-crisis growth trajectory. Fiscal consolidation has been impressive. 

Significant progress in critical institutional reforms that would set the pace for  double-digit growth in the near future. 

Dynamism in the rural economy due to scaled up flow of resources to the  rural areas.

Challenges

Structural concerns on inflation management to be addressed by improving supply  response of agriculture to the expanding domestic demand and through stronger  fiscal consolidation. 

Implementation gaps, leakages from public programmes and the quality of  outcomes pose a serious challenge. 

Impression of drift in governance and gap in public accountability is misplaced.  Corruption as a problem to be fought collectively. Government to improve the  regulatory standards and administrative practices. 

Inputs from colleagues on both sides of House are important in the wider national  interest. 

Budget 2011-12 to serve as a transition towards a more transparent and result  oriented economic management system in India.  

 For Further details: Budget details

Ticket to LONDON: India qualify for men's hockey in London

NEW DELHI (Reuters) - Eight-time champions India secured their place in the men's hockey event at this year's London Olympics after routing France 8-1 in the final of a qualifying tournament on Sunday.

Drag-flicker Sandeep Singh continued his goal-scoring spree, slotting five more in the final as India, who won the last of their eight gold medals in 1980, returned to the Olympics after missing Beijing in 2008.

South Africa qualified for the women's event, having beaten hosts India 3-1 in Saturday's final at the same Dhyan Chand National Stadium.

The Indian women's team returned to join the country's sports minister and a host of former Olympians to cheer for their male compatriots, who did not let them down.

India went to the final with an unbeaten record, having scored 36 goals in the first five games, and they went on to better their 6-2 victory against the Frenchmen in Tuesday's pool match.

India opened their account with Birender Lakra's 17th minute strike but France did well to restrict them to 3-1 at half time.

Singh, having scored from two penalty corners in the first half, returned to convert three more to enhance his reputation as a leading drag-flick expert and finish with 16 goals from six matches.

Simon Martin-Brisac scored the lone goal for the French side while S.V. Sunil and V.R.Raghunath were India's other goal-getters.

"The Artist" wins Oscar for best picture

LOS ANGELES (Reuters) - French silent movie "The Artist" won the Oscar for best picture on Sunday.

"The Artist," filmed in black and white, is the tale of a silent movie star whose career plummets when he refuses to embrace the advent of talkies in the late 1920s.

The film is directed by Michel Hazanavicius and stars Frenchman Jean Dujardin.

MCX fixes $ 135 mn IPO price at Rs 1032/sh

India's Multi Commodity Exchange (MCX) has priced its initial public offering at the top of an indicative range, after investors bid for more than 54 times the shares on offer in a sign of revival of the country's dormant primary market.

MCX, which will become the first Indian bourse to list its shares on an exchange, has fixed the IPO price at Rs 1,032, raising Rs 6.6 billion, the company said in a newspaper advertisement on Monday.

The exchange's majority shareholder Financial Technologies India Ltd and investors including state-controlled State Bank of India and Bank of Baroda sold part of their holdings in the IPO.

About 6.4 million shares were offered in the IPO, in a price band of Rs 860 to Rs 1,032 a piece, including by other shareholders.

The first major IPO by an Indian company in seven months is seen as a test of demand for new share offerings after weak local markets and the euro zone debt crisis forced many companies to shelve equity sale plans last year.

Morgan Stanley , Citigroup Inc and India's Edelweiss Capital were the bookrunners for the IPO.

US markets may see bloodbath from tomorrow

The Indian market has been under pressure over the last few sessions. Sushil Kedia, president of ATMA says, the reversal is in place. "Within the reversal, as we break 5,400 in the day, a further new short trade will come. My bias is to remain short on Nifty," he adds.