Reports from Ludhiana, Coimbatore, Moradabad, Tirupur, Indore, Surat, Delhi, Mumbai, Kolkata, Chennai and Hyderabad, suggest the impact of demonetisation is worsening.
The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crpre of these right after.
Some believe the shift to mobile-based transactions will be seamless considering that the urban tele-density is 148%. In rural areas, it is touching 51%. But smartphone penetration in India is a mere 12%. Growth of mobile money has been extremely slow: It is currently 1%.
Much depends on how the liquidity situation evolves over the coming months, with greater clarity expected from the next monetary policy meeting scheduled for December 7.
Lens on rural transactions. Only 38% of branches of scheduled commercial banks (SCBs) are in rural areas
A task force will speed up the recalibration of 200,000 ATMs so these can dispense the new Rs 2,000 notes.
The focus is likely to be on consolidation and improvement of existing rural-centric programmes to ensure their completion ahead of the next general elections in 2019, rather than announcement of new schemes. Sanjeeb Mukherjee and Arup Roychoudhury report.
Government hits back, tells rating agency to introspect on processes.
The government has managed Rs 21,000 crore through stake sales and buybacks in the first six months, the highest-ever first half divestment revenue for any year by a good margin, raising expectations for the rest of FY17.
Reducing it to 1.3% would lead to savings of Rs 70,000 crore over 5 years
Chief Economic Advisor Arvind Subramanian says that he hopes GDP growth will be at the upper end of the 7-7.5 per cent range.
'GST gives a huge relief to small businesses of India and West Bengal.'
The idea behind advancing the Budget date is to ensure that the Finance Bill is passed before the start of the financial year, on April 1, so that all central government departments get their full allocations to work with right from the first day
Creation of 115 million non-farm jobs over next decade critical to sustaining growth, says McKinsey
Taxes on health, excluding medicines, could rise from 8.8 per cent currently, to around 13.6 per cent - an increase of 4.8 per cent.
Moody's expects tax to be lower than the multitude of taxes such as sales tax, excise duties, local taxes, and value-added taxes the automobile sector currently pays
Make In India and the reduction in barriers of trade will potentially create a growth environment.
Scrapping Plan and non-Plan classifications necessitates the change
Seven months down the line, not much progress has been made, except that the scheme is still being fine-tuned.
The disagreement between the Centre and states continued over administrative powers.
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