Uttar Pradesh Deputy Chief Minister and former state BJP president Keshav Prasad Maurya had also dropped a hint in a recent tweet, saying Yaduvanshi (Yadavs), Ravidasiyo (Jatavs) and Pasmanda Muslims will be brought closer to the BJP so that the lotus 'blossoms' in every booth in UP.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
A picture released by the federal agency showed bundles of seized Rs 500 currency notes along with a few in the denomination of Rs 2,000 and Rs 200 stacked together on a bed.
We will find it difficult to exceed an average of 5 per cent growth in the medium term, warns Shankar Acharya, the former chief economic adviser.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
The idea is to boost household savings and turn more of them into growth capital. If the plan succeeds, sustained eight per cent-plus rates of gross domestic product growth should be within reach in a few years.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Retired banker P Balagopala Kurup says one of the reasons he favours inflation targeting is that its first priority is to insulate the lesser fortunate citizens from adversity and in the process to ensure that the economy retains its inherent vibrancy and strength.
To help the country emerge as a true welfare State, political parties must put the country's interests first before strategising to win elections and short-term goals, argues Ramesh Menon.
The government's subsidy bill towards oil, fertilisers runs into lakhs of crores of rupees.
RBI will make a presentation on January 24 before the panel on the state of NPAs and stressed loans.
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
Political funding of elections has led to the rise in black money in the economy.
'This is happening regardless of the Budget.'
While Bibek Debroy echoed his view in Twitter, Pronob Sen questioned Kumar's conclusion
Finance Minister Nirmala Sitharaman has rebutted Congress leaders Rahul Gandhi and Randeep Singh Surjewala's allegations regarding "wilful defaulters, bad loans and write-offs", and stated that they have "attempted to mislead people in a brazen manner".
A cut in rates would have encouraged the banks to lend aggressively on the retail front.
Gains were led by index heavyweights with Reliance Industries contributing the most.
He dismissed as "hollow claim" Prime Minister Narendra "Modi's propaganda" that things have started looking up
'When I came here in 2002, I said you can grow at 8%.' 'And I was told that was crazy, and (now) here we are.'
The Congress vice president took to twitter to lash out at Modi after the All India Congress Committee demanded rollback of the restriction under which an amount over Rs 5000 in scrapped currency can be deposited only once per account till December 30.
The chairman of Parliament's Public Accounts Committee, K V Thomas, on Monday said a meeting with finance ministry officials has been deferred to February 10 in view of the Budget preparations.
Anandabazar Patrika reported that Rajan would prefer to go back to the United States after his three-year term expires in early September
Among the other names tipped to make it to the Cabinet are Jyotiraditya Scindia, Sarbananda Sonowal, Baijayant Panda.
Most say a rate cut could come in RBI's June policy.
He noted that the Rupee has firmed recently but cautioned that the currency should not lose its competitiveness in global trade.
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
BJP president J P Nadda on Sunday promised Uniform Civil Code (UCC) and 33 per cent reservation for women in government jobs in Himachal Pradesh while releasing the party's manifesto for the state assembly polls.
Official GDP data for the second quarter of the current fiscal year ending March are due to for release this Friday.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
He is the fourth leader of the Sharad Pawar-led Nationalist Congress Party, which is ruling in alliance with the Shiv Sena and Congress in Maharashtra, to face the heat from the central agency.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
The 12,000-page charge sheet further claimed that a similar fraud was detected in 2016 following which the RBI took up the issue and issued circulars to all banks.
Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
The Bombay high court on Thursday said the judiciary and agencies like the Reserve Bank of India, the Central Bureau of Investigation and the Enforcement Directorate should act independently, and asked 'what heavens are going to fall' if an interim protection from coercive action is granted for a few days to Nationalist Congress Party leader Eknath Khadse in an alleged land grab case of 2016.
Swamy had also claimed that Rajan was "mentally not fully Indian" and alleged that he has "wilfully" wrecked the economy
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