Sources said the government was keen to tax all unaccounted money deposited in bank accounts after it allowed the banned currency to be deposited in bank accounts during a 50-day window from November 10 to December 30.
'I want to assure the country that no country, no government can tolerate anybody taking the law into their hands, whether it is an individual or a group.'
He said while the previous UPA government hid the bad loans, his government has properly recognised them and brought tough laws to deal with defaults and recovery money.
From Singapore to Almora, Abhishant Pant has survived without cash, and he wants to continue in that state all his life.
Prime Minister Narendra Modi on Thursday reviewed the impact of Covid-19 on the Indian economy and a possible second stimulus to boost sectors hit hard by the pandemic. Modi held discussions with Finance Minister Nirmala Sitharaman as the pandemic hit sectors from small industries to the aviation sector hard with millions of jobs at stake.
It is likely he will rope in an international ATM manufacturer as a strategic partner with equity stake.
The finance ministry is working on a second relief package for the Indian economy hit hard by the coronavirus outbreak and the 21-day nationwide lockdown imposed to curb the contagion, sources said. Last month, the government announced a Rs 1.70 lakh crore relief package in the form of foodgrains and cash transfers for the poor and vulnerable section of the society to help them deal with the hardships caused by the lockdown. Now, the government is working on a stimulus to be given to hard-hit sectors of the economy after the lockdown is lifted, sources said, adding that an announcement is expected in the next few days depending on the severity of the pandemic.
Gross non-performing assets of public sector banks have gone up.
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
The Friends of Modi initiative is expected to to boost the BJP's vote count by at least 1%.
The BJP's manifesto speaks about the Prime Minister's vision of making 'Atmanirbhar Bihar'.
The finance minister's meeting with chief executives and managing directors of banks ahead of the Union Budget assumes significance in view of the critical role the banking sector plays in boosting consumer demand across sectors.
'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
Without naming the Congress, he said the frustration of a party, which ruled for four generations, was at the root of this politics of opposition for opposition's sake.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
More than 127 million new bank accounts have been opened.
Taxi driver Balwinder Singh was left stunned and speechless when he found out on November 4 that Rs 98,05,95,12,231 had been credited to his State Bank of Patiala account.
He also hit out at the Congress saying governments in the past 70 years kept quiet on blackmoney because they were worried about losing power.
Hitting out at the Samajwadi Party government over the Mathura violence, he said it is the biggest failure of the state government which has also failed to control 'goonda raj' in the state.
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The Bharatiya Janata Party government at the Centre is firmly committed to ensure security all Northeast states said Prime Minister Narendra Modi while addressing a large gathering of BJP workers at the Sarusajai National Games stadium in Guwahati.
Never have I been so thankful for my decision to quit my life in Mumbai and shift to Santiniketan as I have been in these times of the coronavirus.
He said India was 'very careful' while taking action against terror camps in Balakot across the border after the Pulwama attack.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
Tax deduction limit up Rs 50K for investment in pension fund.
The president said women safety is a very serious issue and a lot of work has been done on this but much remains to be done.
Prime Minister Narendra Modi was on Monday quoted as saying that Tuesday's expansion of his ministry will reflect "budget focus and priorities".
As India gets ready to roll out one of the largest vaccine programmes, billionaire Mukesh Ambani on Tuesday said his group is working with authorities to provide technology tools and backbone for mass inoculation against COVID-19. Ambani's telecom venture Jio was rolled out four years back, offering free voice calling and dirt-cheap data. Today, Jio is India's largest telecom operator with over 400 million users, each connected to the internet. At a Facebook event, Ambani said the government's digital push kept the country running even during the pandemic and is now helping in the rollout of one of the largest vaccination programmes.
The last three prime ministers who served full terms started out in their early 70s. Mr Modi is younger and fitter than all of them. But he needs to find it in him to change course if he is to beat the odds, notes T N Ninan.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
There is huge potential for data analytics insurance sector in India which has over 40 crore life insurance policies.
The finance minister said easy access and efficiency in providing banking services will help in revival of businesses which are restarting operations after the lockdown.
'Give cash assistance of Rs 75 per person per day and an android phone and you will see the economy reviving.'
The 13th edition of the flagship congregation of diaspora is coinciding with the 100th anniversary of Mahatma Gandhi arriving back to India from South Africa in 1915, to eventually lead the country towards attaining freedom.
'The Covid situation is like demonetisation.' 'People were upset with the government initially, but eventually they voted for the BJP again.'
India did not create the problem. But if it had a better functioning government system, it would have been able to deal with it at lower cost to its citizens, explains T N Ninan.
He advised banks to facilitate appropriate credit expansion.
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
Modi also pitched for a social movement to ensure the safety of women and girls.
Jean Dreze, a noted economist who was was a member of Sonia Gandhi led National Advisory Council, was dropped from the list of speakers at the Delhi Economics Conclave organised by the finance ministry and inaugurated by Prime Minister Narendra Modi.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
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