The files of Central Information Commissioner Shailesh Gandhi's office have already been digitised while the process is on for the rest of the offices of seven commissioners, Chief Information Commissioner Wajahat Habibullah and other officers.
The Survey is authored by Chief Economic Advisor V Anantha Nageswaran and his team.
Justice Sanjiv Khanna, who has been part of several landmark Supreme Court judgements such as scrapping the electoral bonds scheme and upholding abrogation of Article 370, will be sworn in as the 51st Chief Justice of India on Monday.
Increasing awareness about mutual funds, ease of transactions through digitisation and sharp surge in equity markets have aided asset management companies to add a staggering 3.17 crore investor accounts in 2021-22, with experts saying the trend is likely to continue this fiscal as well. This was a significant rise from 2020-21 when 81 lakh accounts (or folios in mutual fund parlance) were opened, data with the Association of Mutual Funds in India (Amfi) showed. The ongoing financial year too appears to be promising in terms of folios as increase in investor accounts will enable people to move beyond fixed deposits and savings accounts, said Priti Rathi Gupta, founder of LXME, a financial platform for women.
About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
Strong performance by technology (tech) stocks in the current year has led to superior returns in information technology (IT) sector funds. On average, tech funds have given returns of 63.53 per cent in the past one year, the highest among all categories of funds, reveals the data from Value Research. Market participants say that Covid-19 has accelerated the growth of IT companies with rise in demand for digitisation.
Leading brokers are expected to increase brokerage rates in the coming weeks, as they navigate a series of regulatory changes that are expected to squeeze profitability. According to industry sources, top brokers may soon begin charging for equity trades and raise the flat fees for intra-day and derivatives trading by 10-30 per cent. Several smaller players have already hiked their brokerage charges, signalling a potential end to the zero-brokerage era that has drawn millions of new investors into the stock market and fuelled active trading.
Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies.
'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
'Traders must adopt digital payments as soon as possible within a set timeframe, as the nation is moving rapidly towards digitisation.' 'Ignoring digital systems is not an option for strengthening trade.'
The Reserve Bank of India (RBI) will launch the Unified Lending Interface (ULI) nationwide in due course, aiming to transform India's lending sector, similar to how the Unified Payments Interface (UPI) revolutionised the payments ecosystem, Governor Shaktikanta Das said on Monday.
Trai's latest proposal to cut ad inventory in channels has already prompted some of the leading broadcasters (Zee News being the latest) to cut their total commercial time and increase rates.
The government's capex spend is expected to rise and much of this is likely to be focussed on rural India, particularly for housing, roads and irrigation.
Videocon and Philips are gearing up to usher in a new regime with new models that can receive and broadcast TV signals without a set-top box, though a debate over the preparedness of cable operators to migrate to digitisation from July 1 continues to rage.
India's financial sector is dominated by large government-owned and private-sector banks.
Expressing concern over instances of 'unwarranted' confiscation of personal devices during raids, the CJI said they highlight the pressing need to strike a balance between investigative imperatives and individual privacy rights.
Tech titan Google on Wednesday launched the Google Wallet app for Android users in India, allowing them to securely store essentials like boarding passes, loyalty cards, event tickets, and public transport passes. The digital wallet, which becomes operational in India from Wednesday, comes as a complementary service to existing payment app Google Pay, a top official said.
The company has already put in place this digital register in Jaipur in Rajasthan and pilot projects are running in Haryana and Telangana
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
With an expected earnings growth of 15 per cent, benchmark index Nifty 50 may hit 24,500 level by December 2024 and move further to surpass the level of 26,500 by December 2025, Emkay Investment Managers said on Tuesday. The 50-share Nifty settled at 22,888.15 on Tuesday. In the previous day, it hit a new lifetime peak of 23,110.80.
The government-mandated digitisation programme calls for a complete switchover from analogue cable to the digital addressable system in a phased manner.
Then prime minister Manmohan Singh's brief to his new information and broadcasting minister Manish Tewari on what should be the government's approach to the media was simple -- it should be an essay in persuasion, not coercion.
West Bengal Chief Minister Mamata Banerjee on Tuesday threatened to launch an agitation if television transmission was blacked out after the October 31 deadline for digitisation and accused the Centre of trying to adopt a path of 'confrontation' with the states on the issue.
M Muneer recommends segmenting the population on the basis of their propensity to embrace new technologies is the key to driving digitisation.
Do not, however, enter expecting quick returns.
There has been talk in the I&B ministry on allowing analogue signals in a few cities, like in Kolkata and Chennai in the first phase, even after March 31.
'We added a significant number of freshers in Q1. You will see a good number of hiring in Q2 as well.'
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
Singapore government's sovereign wealth fund Temasek is looking to invest $10 billion in India during the next three years, Ravi Lambah, Temasek's head of India and strategic initiatives, said.
'India has a skill shortage of 56%.' 'This is a very interesting paradox -- the unemployment rate is 6% to 7%, and at the same time 20% of those qualified are unemployed.'
Noting that India's civilisation is more than 5,000 years old, the President said many of the manuscripts were yet to be recovered, deciphered and analysed.
From connectivity woes to infrastructure advancements and the startup boom, there is a gulf between claims and reality in India's economic landscape, points out Devangshu Datta.
In a major relief to 25,753 teachers and non-teaching staff of West Bengal, the Supreme Court on Tuesday stayed the order of the Calcutta high court order invalidating their appointment made by the state's School Service Commission (SSC) in the state-run and state-aided schools.
Capital markets are becoming more prominent in India's growth story, with an expanding share in capital formation and investment landscape on the back of technology, innovation and digitisation, according to the Economic Survey 2023-24 tabled in Parliament on Monday. Further, Indian markets are resilient to global geo-political and economic shocks, it added. "Despite heightened geo-political risks, rising interest rates and volatile commodity prices, Indian capital markets have been one of the best performing among emerging markets in FY24," the Economic Survey said.
'With the deployment of a higher degree of mechanisation, awarding contractual mining to MDOs and operational efficiency, we feel confident of achieving the desired target.'
Encouraged by the response it received for the first phase of Digitisation of cable TV homes, the information & broadcasting ministry is now gearing up for the second phase, which would cover 38 cities across 15 states.
The spike in volatility, amid election uncertainty, has done little to dent the confidence of retail investors, shows demat account addition and equity mutual fund (MF) investment data. In May, investors opened a net 3.6 million demat accounts, taking the total to 158 million. MF data released on Monday pegged the net inflows into equity schemes and SIP investments at new record highs of Rs 34,697 crore and Rs 20,904 crore, respectively.
'Probably revised guidelines will come, and then the real picture will emerge.'
The apex court rejected the preliminary objection raised by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) that Aam Aadmi Party leader Manish Sisodia cannot be permitted to file second set of special leave petitions to challenge the Delhi high court's May 21 verdict which denied him bail in the excise policy cases.
'The aged with retina and finger print issues are not getting access to pension and ration.' 'If all becomes digital -- what'll happen to the poor?'
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