After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
With GDP down by 2 per cent, while 99 per cent of banned notes make way back to the banking system, whom did demonetisation benefit?
Here's the full text of President Ram Nath Kovind's address to the nation on the eve of 71st Republic Day.
Switzerland will not share details about accounts held prior to September 2018.
'The Indian market has all the factors at the moment: Over-valuation, over-confidence, reliance on some source of massive fund flows and massive scams.' 'The trigger for a collapse could also have arrived.' warns Devangshu Datta.
Tax problems and unfavourable WTO agreements are making Tamil Nadu's electronics corridor less attractive to companies.
As and when the GST comes in, Budget projections will have to be unbundled and revised. In fact, the pragmatic decision would be to present another Budget! This makes the passage of the Finance Bill with its multiple unrelated amendments seem even more dubious, says Devangshu Datta.
'With the deaths of Jayalalithaa and Karunanidhi, the BJP and Congress thought that they had a chance.' 'They have conceded that power is with the Dravidian parties.'
'We are in the reverse gear and we are not there anywhere compared to the rest of the world'
'I want the prime minister to be punished because he put our country in difficulties as he took this decision without Cabinet approval.' 'When he had already ordered the printing of new currency notes on May 19, 2016, why did he tell lies to the country?'
Prof Ananth Narayan, well known financial expert who works as a faculty member at the SP Jain Institute of Management and Research and the RBI's nominee director on the board of Yes Bank, expects a double-digit contraction in India's GDP this fiscal year. In the first of a two-part interview to Shobha Warrier/Rediff.com, Prof Narayan, below, says, "Giving liquidity and loan to cover the cash flow problem is not sufficient because you are essentially increasing the debt of many of these companies. And they might not be able to bear the burden."
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
'We don't expect any immediate impact on salaried jobs.'
This is due to the newly formed Union Territories of Jammu and Kashmir, and Ladakh, which will get funds from the Centre's share, which means devolution will be for 28 states compared to 29 earlier.
The prime minister said a stable global economic and financial system is imperative for growth as it promotes inclusive and sustainable growth.
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
'If development, investment, employment, implementation, credibility and commitment are ensured, security will automatically improve and subversive and militant elements will lose ground and be neutralised by the people themselves,' says B S Raghavan, the distinguished civil servant.
While the government has the option of ensuring the passage of these Bills as money Bills, there are voices within the government advising discretion on the GST roll-out by April 1.
Unless they have capital gains or assets abroad, most individuals will need to file ITR-1 or ITR-2A.
The wealth of India's richest 1 per cent increased by over Rs 20.9 lakh crore during 2017.
The Punjab government blames the slow growth on tax concessions in neighboring Himachal Pradesh and Haryana's proximity to Delhi.
The funds officially held by Indians with banks in Switzerland now accounts for only 0.07 per cent of the total funds kept by all foreign clients in the Swiss banking system.
It's crucial for Modi to make India an easier place to do business.
On gold buying occasions such as Akshaya Tritiya, Chiraj Mehta points out, investors are often confronted with the question: Should I make just a token purchase, or should I buy more towards building my allocation in the yellow metal?
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
'The Modi government is about privatising profits and nationalising losses.'
'The fabric of democracy is fraying,' says T V R Shenoy. 'It is being attacked not just by terrorists in Kashmir or by zealots in the North-East, but is being ripped apart even in Allahabad, in the Hindi heartland.'
About 3,000 internet connections, including those of the Ministry of Defence, security agencies, the Central Bureau of Intelligence and banks in Delhi, have been found to be compromised, probably for snooping from foreign locations, according to a report submitted by cyber security experts to government.
Whether it was the Bofors gun in 1986 or Italian helicopters in 2012, a leak or disclosure at the source overseas is like dynamite, and usually impossible to refute. They acquire a life of their own in the hands of the media, says T N Ninan.
While the crackdown is a major step in combating tax evasion and improving transparency, it might also impact the flexibility and genuine corporate structures created to achieve legitimate objectives, says Suresh Surana.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
PM Modi and Rouhani inked nine pacts including a lease contract for a part of Chabahar port's operation for 18 months.
West Bengal Chief Minister Mamata Banerjee on Saturday accused the Centre of pursuing vindictive politics and using central agencies like the Central Bureau of Investigation and the Enforcement Directorate to terrorise people in the non Bharatiya Janata Party-ruled states.
China also had the largest illicit outflows of any country in 2013.
The monetary authority said it was worried on three fronts with regard to inflation as well as the economy.
'If the government had not spent an incredible amount of energy on demonetisation it may -- may, because it had not done anything the previous six months either -- have been able to pay attention to the deeper problems of low investment and job creation.'
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
'Nehru once told JRD, "I hate the mention of the very word profit".' '"Jawaharlal, I am talking about the need of the public sector making a profit!" JRD replied.' 'Nehru reiterated, "Never talk to me about the word profit, it is a dirty word".' A fascinating excerpt from Shashank Shah's The Tata Group: From Torchbearers To Trailblazers.
'Both India and Japan can find themselves in a win-win situation if they draw some lessons from each other's strengths,' says Dr Rajaram Panda.
