The world's largest cash transfer programme has eliminated around 40 million ghost connections
Blockchain's promise: Dramatically speeding up transactions, explains Ajit Balakrishnan.
Paytm plans to launch mutual funds, insurance and banking services and s also providing the option to transact offline with a physical debit card
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
Spending continues to be less as people who are getting direct benefits from the government are choosing to save in the current situation.
Most informal enterprises in slums employ local residents, generating benefits for the local economy.
'The right to shelter does not mean right to government accommodation. The government accommodation is meant for serving officers and officials and not to the retirees as a benevolence and distribution of largesse,' a bench of justices Hemant Gupta and A S Bopanna said in its judgement passed last week.
For stressed loans, the need is to prevent disruption in cash flows from a systemic perspective, conserving employment and assets in untainted enterprises with the potential for recovery, says Shyam Ponappa.
In her fourth tranche of the economic package, she said commercial mining will be done on revenue sharing mechanism instead of the regime of fixed rupee/tonne.
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.
Budget clearly prioritised growth over fiscal consolidation, said Atsi Sheth, Senior VP, Moody's Investors Service.
Enhanced revenue generation is a priority for the government.
Congress leader Rahul Gandhi appeared before the Enforcement Directorate (ED) on Wednesday for the third consecutive day of questioning in the National Herald money laundering case, with the agency seeking answers on decisions taken with regard to the media organisation and its owner Young Indian.
Whether you give stocks held for more/less than a year, benefits are nominal; donating cash is better.
"For the next 25 years we need to focus on the five resolves - developed India, removing every trace of bondage from our mind, taking pride in our glorious heritage, unity, and fulfilling our duties," he said.
'The question is, how soon we can expect to re-attain the pre-lockdown levels of output and income.'
A government can't just take away public money, and the RBI can't extinguish its liability. 'The RBI has to honour the value any time a person with legal and taxed money lays claim on the value.'
'It has also saved the government about $ 9 billion in fraud and wastage because by having that unique number you eliminate fakes and duplicates from your beneficiary and employee list,' Nilekani said at an event on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
According to sources, the task force made a separate presentation on fertiliser, LPG and kerosene, covering issues like existing subsidy regime and the proposed new model.
Mihir Bhat, fellow at the Harvard Humanitarian Initiative and Director of the All India Disaster Management Institute tells rediff.com's Vicky Nanjappa that the youth of the country will swing into action to see what gets done on the ground.
With the O2C business outlook on the mend, the Street is also looking forward to news on RIL's proposal to sell up to 20 per cent of the O2C business to a strategic investor like Saudi Aramco.
One may fault this government for incompetence, corruption, and delayed action but it cannot be faulted for lacking a vision.
The government is giving adequate publicity to the benefit to be extended to account holders, sources added.
Whether it is for disaster relief or a personal cause, some online platforms help you raise funds for a fee.
India's near-term growth has improved: IMF
'You need a leader whom India can identify with and I cannot think of any other leader except Sachin Pilot in the Congress party.'
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
COVID-19 forced people to work from home turned into the fuel for new demat accounts, observes Debashis Basu.
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.
Demonetisation will help in transfer of resources from tax evaders to government, he said.
LPG cash transfer to begin with Mysore, Hyderabad.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
1.46 lakh such consumers have voluntarily given up the subsidy.
In line with the industry expectations, the government has indicated that it is actively considering extension of the NBS regime to cover urea.
'You cannot start an MSME again.' 'It is not like a Yes Bank that someone comes and saves the bank.' Once the shutter is down for an MSME, nobody will come to its rescue.'
India could gain four times over by winding up dysfunctional subsidies.
The police in every state teems with officers like Sachin Vaze, observes Virendra Kapoor.
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