Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
With clouds of storm hovering over Parliament's budget session, President Pranab Mukherjee on Monday sought the "cooperation" of all MPs in the smooth conduct of legislative business but gave no indication of plans to bring changes in the controversial land acquisition ordinance.
Having a single point KYC that is automatically used across all financial and non-financial entities is a single piece of reform that should be an easy win to achieve, points out Harsh Roongta.
He said the parties rejected by the electorate are pushing their own political agenda by misleading farmers.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
India plans to directly transfer cash benefits to bank accounts of people under various social welfare scheme over the next few years and is expanding the banking network.
The finance ministry website that lists the total disinvestment revenues to be mobilised during the current year already shows that no receipts are expected from strategic sales in the current year.
'The finance minister and the government have met the immediate challenge. The wine this time is new and also in a new bottle, which, though not full, is less than half empty.'
Seeking to develop and rejuvenate 75 water bodies in every district of the country, the prime minister will launch a new initiative named 'Amrit Sarovar', it said.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
Claiming that the cashback plan will help the city save 25-30 per cent of drinking water, Delhi Congress president Subhash Chopra alleged that the AAP government's free water scheme 'benefited water tanker mafia'.
The deadline of March 31 has been postponed till the apex court delivers its final judgment.
The loss in Bihar has forced a change in NDA's market positioning, says Shekhar Gupta.
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
The first stage of the inclusion strategy was focussed on opening bank accounts, logically seen as creating the last-mile channels for financial access.
The Budget touches a few highs and lows as far as personal finance is concerned, and one needs to be aware of them in order to optimise on one's investment plans.
'It is less polarising than Hindutva.'
Failure to do so leads to incorrect filing and under-reporting of income, with adverse consequences, advises Bindisha Sarang.
The Primary Market Advisory Committee of Sebi has suggested some changes and the market regulator had sought public comments on the recommendations.
'To bring about a paradigm shift in farmers's income, we need to change our approach to agriculture, and transit from the narrow prism of cultivation to a full-fledged enterprise, by building all associated supply chain linkages.' 'This alone will make the farmer an entrepreneur in his own right.'
'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?'
Finance minister Arun Jaitley has few feathers in his cap for taking serious eff
'We are doing away with human interface in metering, billing, and collection.' 'That in itself will bring down losses by 50 to 60 per cent.'
The apex court observed that the government could not deny benefits to those who did not have not Aadhaar numbers.
'We have promised to ensure reduced tax rates.'
Modi on Tuesday said the country is in safe hands and nothing is above the nation.
The remarkable feature of those reforms unveiled in 1991 is that none of those decisions has been disowned by subsequent governments in the last 25 years.
Realising, that there was a ground swell of anger against several lower level TMC leaders who were often accused of petty corruption in execution of public welfare schemes, Kishor designed the 'Didi Ke Bolo' (Tell Didi) campaign under which citizens could directly approach Chief Minister Mamata Banerjee with their grievances.
Budget for women and children welfare increased from Rs 1,56,528 crores to Rs 1,84,632 crores for 2017-18
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.
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
If retrenched workers are unable to reskill within a fixed period of time, they will have to return the money given to them by the government. Moreover, they may be asked to pay back an interest on the sum transferred.
The government's largesse was widely expected after the ruling Bharatiya Janata Party lost power in the recent assembly polls in three Hindi heartland states, where rural distress was cited to be one of the reasons for the defeat of the saffron party.
The president outlined the government's agenda in the coming financial year in his customary address to the joint sitting of both the Houses of Parliament.
The government's initial promise and energy seems to have dissipated.
Not only do you need an effective and independent regulator, you also need competition to flourish.
'The classic thing we need as a country is the virtuous cycle where you have robust demand which leads to more capital spending which in turn leads to more job creation and more money in the hands of people.'
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.
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