The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
The improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
The finance ministry has put out a revised draft in public domain.
'Start-ups that generate a majority of their income in India are likely to opt for an Indian listing.'
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
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.
The session started on January 29 and was originally slated to end on April 8 but several members had urged Speaker Om Birla to end the session earlier as they focus on electioneering for the five assemblies.
The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announced by Finance Minister Nirmala Sitharaman last week.
Wiping off nearly Rs 4 lakh crore of investors' wealth during the day, benchmark Sensex crashed on Friday.
Budget for women and children welfare increased from Rs 1,56,528 crores to Rs 1,84,632 crores for 2017-18
Government-owned companies are more generous in rewarding their shareholders with dividends.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
Modi's government plans to support domestic demand
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
Education sector has reasosn to cheer Budget.
'Consolidation was part of the Indradhanush package.'
Demonetisation is the biggest reason for the rise in preference for small savings.
In HDFC Life, the company has to pare 1.43 per cent, and in HDFC Ergo, it has to pare only 0.58 per cent.
The highlight of the first BRICS Summit on the African soil is the possible setting up of a development bank for undertaking infrastructure and development projects.
Stepped up public expenditure must be accompanied by focused policies, advises Vinayak Chatterjee.
'At the heart of the strategic relationship between our countries are economic ties.'
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
If Pakistan continues with the 'Grey List' or put in 'Dark Grey' list, it would be very difficult for the country to get financial aid from the IMF, the World Bank and the European Union, making its financial condition more precarious.
'The Budget numbers presented severely underestimate the magnitude of the unstated fiscal crisis that we went through in 2018-2019, which cannot be conceivably be fully reversed in 2019-2020,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
The most pressing issue facing the financial sector is the rising stock of non-performing assets in the banking system
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
Even existing cases might come under the proposed law, including those of Vijay Mallya, Nirav Modi and Mehul Choski. But, the law would not cover earlier cases.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
'Russia has got inherent military strength, they have a very good military equipment manufacturing infrastructure and by and large they are self-sufficient in their production capabilities'
'For the RBI, for a central bank, reputational risk is the worst risk.' 'Credibility is the worst risk,'
"It is about time that India and its institutions are protected from these 'institution wreckers'," said Jaitley.
Some say the MPC will raise the rate, while others are of the view that there is already de facto interest rate tightening through rising bond yields, which might prompt the central bank to go for a pause.
Officials said the government had no option but to cut spending.
Months before 8/11, MP, Haryana probed note ban
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
