Securities held in custody accounts reached a new high.
While naysayers say the economy is on a downward spiral, optimists point out that India has experienced a shift of gears in the realm of policies, thanks to several initiatives of the Narendra Modi government, says Ashok K Lahiri.
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.
While RBI is yet to come out with a clear regulatory framework for bitcoins, which have been gaining currency across the world over the past few months, it has issued an advisory cautioning general public against use of bitcoins and other virtual currencies.
The prime minister's August 15 address was undoubtedly inspirational and outlined important economic and social objectives, such as making India a global hub for manufacturing, ensuring bank accounts for all poor families, major thrusts in sanitation and cleanliness, and a radical restructuring of the Planning Commission.
Finance Minister Arun Jaitley presented the Union Budget.
NDA government has shunned populism.
'Today, bankers don't want to take risks as the good decisions taken by them were not protected.' 'There is risk involved in all decisions, like businessmen taking risks in their businesses.' 'A banker must have taken a decision when the economic condition was different, and you cannot question him on the basis of the present situation in hindsight.' 'Naturally, this has affected the morale of bankers.'
Raamdeo Agrawal says, an investor should figure out if the company actually makes money or not, making an investment comes later.
Indian economy about to take-off
