Ishan Bakshi

All stories by Ishan Bakshi

Jan Dhan Yojana powers Modi Sarkar's financial inclusion drive

Jan Dhan Yojana powers Modi Sarkar's financial inclusion drive

Rediff.com11 Mar 2019

There were concerns that simply opening a bank account wouldn't constitute meaningful financial inclusion, as the poor would rarely use these accounts. However, recent data submitted to Parliament attests to increased account usage, says Ishan Bakshi.

How the fiscal deficit, revenue target numbers stack up in Budget

How the fiscal deficit, revenue target numbers stack up in Budget

Rediff.com6 Feb 2019

Ehile the Centre had projected tax revenues to touch 12.1 per cent of GDP in FY19, Revised Estimates peg the collections at 11.9 per cent, owing to a shortfall in the goods and service tax (GST) collections, reports Ishan Bakshi.

Credit growth of private and non-PCA banks surges, says RBI report

Credit growth of private and non-PCA banks surges, says RBI report

Rediff.com7 Jan 2019

Bad loans, however, continued to rise in the micro, small and medium enterprises category

Fiscal deficit hits 115% of FY target

Fiscal deficit hits 115% of FY target

Rediff.com28 Dec 2018

For the first eight months of the current financial year, the figure stood at Rs 7.17 trillion.

What's driving EPFO payroll data?

What's driving EPFO payroll data?

Rediff.com3 Dec 2018

As beneficiaries under Pradhan Mantri Rojgar Protsahan Yojna have to be EPF subscribers, these numbers indicate that the increase in EPFO payroll estimates is largely due to an increase in the beneficiaries registered under PMRPY.

'Demonetisation was a massive, draconian, monetary shock'

'Demonetisation was a massive, draconian, monetary shock'

Rediff.com30 Nov 2018

The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.

CPI calculation: MPC member Ravindra Dholakia raises 3 concerns

CPI calculation: MPC member Ravindra Dholakia raises 3 concerns

Rediff.com27 Nov 2018

As the MPC is mandated to target CPI inflation rate at 4 plus minus 2 per cent, any measurement error in CPI is likely to have grave consequences for monetary policy.

State GST collections are more than Centre's

State GST collections are more than Centre's

Rediff.com12 Nov 2018

The shortfall in the Centre's GST collections has raised concerns over it meeting the fiscal deficit target of 3.3 per cent of GDP, reports Ishan Bakshi.

Mumbai still home to most of India's richest

Mumbai still home to most of India's richest

Rediff.com2 Oct 2018

Pharmaceuticals, along with software and services, also added the most new entrants on the rich list 2018.

Investment picks up to a seven-quarter high of 14.4% in Q4

Investment picks up to a seven-quarter high of 14.4% in Q4

Rediff.com1 Jun 2018

Economists, however, caution against interpreting the data as a broad-based revival

Modi @ 4: PM's dream of 'financial inclusion' takes shape

Modi @ 4: PM's dream of 'financial inclusion' takes shape

Rediff.com29 May 2018

Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.

Can terms of reference of Finance Commissions be changed?

Can terms of reference of Finance Commissions be changed?

Rediff.com9 May 2018

With the creation of the state of Telangana, additions were made to ToRs of the 14th Finance Commission to make recommendations for the newly created states after the reorganisation of Andhra Pradesh.

Govt to mop up Rs 3.02 trn from cess, surcharges

Govt to mop up Rs 3.02 trn from cess, surcharges

Rediff.com8 Feb 2018

The 14th Finance Commission had recommended that states' share in the divisible tax pool be raised to 42 per cent, from 32 per cent earlier.

Why govt's indirect tax collection target looks impossible

Why govt's indirect tax collection target looks impossible

Rediff.com22 Jan 2018

The budgeted indirect tax collection target is Rs 9.26 trillion, and the Centre has collected around Rs 5 trillion in the first 8 months. So it needs another Rs 4.2 trn in the last four months

Run-up to Budget 2018-19: India's medium-term fiscal outlook looks grim

Run-up to Budget 2018-19: India's medium-term fiscal outlook looks grim

Rediff.com12 Jan 2018

Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction

Budget 2018: What the real estate sector wants from FM Jaitley

Budget 2018: What the real estate sector wants from FM Jaitley

Rediff.com12 Jan 2018

The year 2018 is likely to be steady in terms of institutional investment into real estate

This is Moody's advice for Modi

This is Moody's advice for Modi

Rediff.com8 Dec 2017

'We forecast real GDP growth to moderate to 6.7 per cent in the year ending March 2018.' 'However, as disruption fades, we expect to see a rebound in real GDP growth to 7.5 per cent in the next fiscal year.'

Achche din eludes both Centre and states

Achche din eludes both Centre and states

Rediff.com28 Nov 2017

Data released earlier by CAG shows capital expenditure by the Centre had contracted 9.2 per cent in Q2

Why banking transaction tax may not be evasion-proof

Why banking transaction tax may not be evasion-proof

Rediff.com20 Nov 2017

According to the NIPFP, there is the possibility that even if the banking system matures over time, some transactions could bypass the system so as not to pay the BTT.

800,000 super-rich Indians account for 8.6% of national income

800,000 super-rich Indians account for 8.6% of national income

Rediff.com13 Sep 2017

From 1980 to 2014, the top 1 per cent captured 29 per cent of total growth, as much as the bottom 84 per cent put together.

'Modi is in the top 3 leaders I've ever seen!'

'Modi is in the top 3 leaders I've ever seen!'

Rediff.com7 Aug 2017

Says CISCO executive chairman John Chambers, who's 'met every leader in the world, and got to know them very well.'

Has note ban boosted tax base? Answer is in the detail

Has note ban boosted tax base? Answer is in the detail

Rediff.com22 Jun 2017

On the face of it, there could be a bump up in tax filings, but its impact on tax collections is not that straightforward

Has currency in circulation reached a new normal?

Has currency in circulation reached a new normal?

Rediff.com20 Jun 2017

With weekly additions slowing, it's likely that demand could be slackening

Agri sector spoils Modi's achche din dream

Agri sector spoils Modi's achche din dream

Rediff.com15 Jun 2017

While overall employment rose from 456 mn to 463 mn between FY11 and FY15, with farm employment falling by 26 mn over the same period, the net addition to employment over the entire four year period was a mere 7 mn.

Fulfilling promises will add to UP's financial burden

Fulfilling promises will add to UP's financial burden

Rediff.com31 Mar 2017

The BJP's manifesto for UP elections promised many things. But, given the state's precarious financial position, fulfilling these promises is likely to prove tricky, says Ishan Bakshi.

A nation of tax avoiders?

A nation of tax avoiders?

Rediff.com7 Mar 2017

Exemptions, and the fact that farm income is outside the tax net, ensure that India's tax-GDP ratio stays low.

GDP versus other economic indicators

GDP versus other economic indicators

Rediff.com6 Mar 2017

It is difficult to reconcile the GDP numbers with other economic indicators.

Why India's GDP grew at 7.9% in FY16

Why India's GDP grew at 7.9% in FY16

Rediff.com24 Feb 2017

RE of GDP for 2015-16 show that the economy grew 7.9% in 2015-16, rather than the earlier estimate of 7.6 per cent.

Can railways meet its 2016-17 targets? What the figures say

Can railways meet its 2016-17 targets? What the figures say

Rediff.com24 Jan 2017

In his last Budget, Suresh Prabhu, set an ambitious target for capital expenditure.

Data shows economic activity falters after note ban

Data shows economic activity falters after note ban

Rediff.com17 Jan 2017

Leading indicators suggest economic activity has been disrupted after demonetisation.

Govt's tax revenues soared in note-ban November

Govt's tax revenues soared in note-ban November

Rediff.com10 Jan 2017

In the post-demonetisation phase, the govt's tax revenues have ended up soaring in November.

Why advance GDP estimates won't fully capture note ban effect

Why advance GDP estimates won't fully capture note ban effect

Rediff.com4 Jan 2017

Much of the Q3 data will simply not be available for the CSO to factor in its calculation.

More bad news as investment outlook continues to be grim

More bad news as investment outlook continues to be grim

Rediff.com4 Jan 2017

The contraction in November this year is the second biggest fall in the current financial year.

8/11 and after: The going won't be easy for some more time

8/11 and after: The going won't be easy for some more time

Rediff.com31 Dec 2016

The bigger worry is that its effects could linger well into the next financial year.

Hardship set to linger

Hardship set to linger

Rediff.com31 Dec 2016

With cash -- the primary medium of exchange -- all but disappearing, it is now unlikely that the expected fillip to demand on account of a good monsoon and proceeds from the Seventh Pay Commission payout will materialise.

The challenges of branchless banking

The challenges of branchless banking

Rediff.com5 Dec 2016

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%.

Cost of RBI's CRR diktat to banks: Rs 18,000 crores a year

Cost of RBI's CRR diktat to banks: Rs 18,000 crores a year

Rediff.com30 Nov 2016

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.

Bharat has 70% of population, but only 19% of ATMs

Bharat has 70% of population, but only 19% of ATMs

Rediff.com28 Nov 2016

Lens on rural transactions. Only 38% of branches of scheduled commercial banks (SCBs) are in rural areas

Cash deals cost India 1.7% of GDP: Visa

Cash deals cost India 1.7% of GDP: Visa

Rediff.com6 Oct 2016

Reducing it to 1.3% would lead to savings of Rs 70,000 crore over 5 years

Vision 2020: India to grow at 7.7%, China at 6.4%

Vision 2020: India to grow at 7.7%, China at 6.4%

Rediff.com12 Aug 2016

Creation of 115 million non-farm jobs over next decade critical to sustaining growth, says McKinsey

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