If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
Sitharaman, who was holding the Commerce portfolio (Independent charge), was on Sunday promoted to the Cabinet rank as was Goyal.
The Rs 20 lakh crore package includes Rs 1.7 lakh crore package of free foodgrains to the poor and cash to poor women and elderly, announced in March, as well as the Reserve Bank's liquidity measures and interest rate cuts.
They are now scaling or shutting down their businesses because they can't compete with untaxed grey market gold. India's gold smuggling has increased significantly since the import duty was increased in the Union Budget 2019 in contravention with the broader market expectations of a cut.
There is as yet no clarity on how the process of consulting with the RBI Governor, initiated under Section 7 of the RBI Act, would unfold in the coming days. The government is keen that its suggestions made in the public interest should be heeded by the central bank, says A K Bhattacharya.
ICICI Prudential AMC has launched the ICICI Prudential Micro Systematic Investment Plan (MSIP) with a minimum investment of just Rs 50 per month.
Indian economy was growing faster than the global average and all other major economies: FM
The prime minister was often seen vigorously thumping the desk, prompting his Cabinet colleagues and NDA MPs to follow suit.
'If the government spends Rs 10 lakh crore this year then you would be looking at a GDP growth of minus 5 per cent.' 'If you do not do this, you will be looking at GDP growth between minus nine and minus 10 per cent.'
'Banks have to be braver, willing to take more risks and give confidence to the customer,' observes Joydeep Ghosh.
'I have no problems with the finance ministry or with state governments treating petrol pump prices as the last resort for meeting their ambitious spending targets with very limited revenue resources.' 'But let's do away with this smokescreen of free pricing of petrol and diesel and go back to administered pricing regime,' says Dr Sudhir Bisht.
The list of corporations publishing biographies has lengthened steadily as companies have realised the effectiveness of story telling as a brand building tool. Kanika Datta investigates the rising trend.
'The most important thing to do is to stop taxing citizens so brutally,' recommends T C A Srinivasa-Raghavan.
There has been a distinct trend change in the micro-indicators like rising auto sales and consumer confidence index in the last 20 quarters, Chandrasekaran stated.
Listening -- really listening -- to advisers in the government and outside would help. India has plenty of wise economists who have worked within the bureaucracy during previous crises, points out Rahul Jacob.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
The vertical will be based out of Bengaluru.
Entrepreneurs to get support from the government
The bright yellow coloured notes will hit the market just a day after the announcement by Finance Minister Arun Jaitley that the government has given a go-ahead to the RBI to issue the new currency bill.
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
The social media was abuzz over an image of an image of Finance Minister P Chidambaram alongside Taliban founder Mullah Abdul Salam Zaeef during a conference in Goa.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
'As banks grapple with risk aversion and savers see an erosion in the value of money, the P2P platform can be a win-win for both borrowers and lenders,' notes Tamal Bandyopadhyay.
The three companies - Ola, Hyundai and Kia - will co-create solutions to operate and manage fleet vehicles.
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
Multiple organisations of different kinds with overlapping goals would be a dream situation for those who believe in competition and innovation.
RBI has invited case studies from participant banks by January 31.
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
Jaitley said the GST Composition Scheme, under which small traders and businesses pay a 1 per cent tax based on turnover, can be availed by businesses with a turnover of Rs 1.5 crore, against the earlier Rs 1 crore, with effect from April 1.
NDA government has shunned populism.
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
For the urban population, recalibration of ATMs has already started and they will start dispensing the new Rs 2,000 currency notes from Monday or Tuesday.
Most borrowers may not be aware, but quite a few banks already offer external benchmark linked home loans to favoured borrowers, says Harsh Roongta.
The street-fighter attitude is what keeps Rane going even at 69. The expectation is -- at least in the BJP camp -- that he will be itching for a battle royale with the Shiv Sena in its bastions.
MUDRA bank will help microfinancing firms to lend more.
Financial planners advise against putting capital to work by anticipating what might go up or down.
Major focus will be on adequately funding existing schemes to ensure their timely completion before the next General Elections.
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