Raghavendra Kamath reports on what ails India's real estate sector.
That apart, farmers will get loans for post-harvest storage of their produce at a subsidised interest rate of 7 per cent for six months.
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.
PMAY-Gramin, which was launched in November 2016, aims to construct 10 million homes by March 31, 2019, with private sector and state government participation
Keki Mistry, vice chairman and CEO, HDFC tells Joydeep Ghosh and Chirag Madia that unlike some other players it never went for excesses and never took unreasonable risks.
The Jan-Dhan accounts are zero balance accounts, comes with a life cover of Rs 30,000 per person, and an accidental cover of Rs 100,000. An active user of the account can also get overdraft facility of Rs 5,000 from banks.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
The country's gross domestic product (GDP) is likely to grow at 5.8 per cent in the third quarter of fiscal 2022, according to an SBI's research report- Ecowrap. The country's economy expanded by 8.4 per cent in the second quarter of 2021-22, to cross pre-pandemic levels. However, the GDP growth in July-September period was slower than the 20.1 per cent expansion in the previous quarter.
'The government expects demand for electronic products to reach $400 billion by 2023-24. This would be a huge foreign exchange outflow, which may further widen our trade deficit with other nations. Hence, the government plans to push local electronics manufacturing to cut down on their import bill.'
PM extended some old schemes and finally said yes to one that was legally mandated for past 2 years.
Without making any direct reference to the three new farm reform laws or to the three-month-old agitation by farmers, Modi said there is a need for expanding options for the country's farming community to sell agri produce.
The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
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.
President Ram Nath Kovind addressed the nation on the eve of India's 75th Independence Day. Here's the text of what he said:
Former chairman of the UIDAI Nandan Nilekani, elucidates how Aadhaar could become the spine for alternative banking and could replace government services with cash benefits.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
As many as 75 million households that do not have access to banking services will be covered and at least one bank account opened for each household, against the earlier proposal of two.
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
Since the Mahabharata the Yadavs have been known for infighting. And the 2017 UP election proved yet another example of that, says Nazarwala.
There are many collateral advantages of taking the tough decision.
'Nationalism built on divisiveness cannot strengthen the country, or help the economy improve its performance,' points out T N Ninan.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
The government has opted for the RuPay debit card over the Aadhaar-based platform for "last-mile" authentication in its Pradhan Mantri Jan Dhan Yojana.
The Dravida Munnetra Kazhagam might have been pushed into a corner to come up with a prohibition policy of its own, if only to create the right atmosphere for talking about an Opposition coalition in the state, says N Sathiya Moorthy
With facts and figures, the CAG report has highlighted how Gujarat was far from a role model for states across India, and that the progress made in this province in western India in improving agriculture, education, healthcare and empowerment of women and children, was not exactly creditable, says Paranjoy Guha Thakurta.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
Aadhaar-related schemes and the Aadhaar Act exist on the assumption that Right to Privacy is not a Fundamental Right.
The last time Tamil Nadu seriously voted on pre-poll promises was in faraway 1967.
'Deep pockets have become a prerequisite for contesting elections on a major party symbol in most states.' 'Given the premium parties place on self-financing candidates, once you have accounted for the suspected criminals, dynasts, industrialists, and celebrities, there is not much room for anyone else.'
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
'We are rushing to 'develop' without carefully valuing natural areas.' 'With careful land use planning and scientific zonation at least 5 to 10 per cent of the country's land can be secured for tigers and other such species, and another 5 to 15 per cent kept under low-impact uses to support biodiversity that can coexist with human uses.'
