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Before fixing a new date for the presentation of Union Budget 2017-18, the government is likely to hold discussions with the Election Commission to avoid any clash with the schedule of five states headed for polls.
The deal was signed in the presence of Defence Minister Manohar Parrikar and French Defence Minister Jean Yves Le Drian who is on a visit to India.
Paving the way for a major shift in the interest rate-setting mechanism, the government on Thursday named three members for the new Monetary Policy Committee (MPC).
The RBI governor Urjit Patel will head the new six-member MPC and will also have the casting vote in case of a tie in the new system.
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