The government plans to borrow Rs 6 lakh crore in this financial year.
BBPS allows you to pay electricity, telephone, water supply, gas and DTH bills. Its scope will be expanded to include other payments like school and university fees, government taxes, insurance premiums, mutual fund investments, even credit card bills.
Financial shares were the top losers.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.5% and 0.4%, respectively.
The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points (bps) but said that if consumer price inflation eases as projected, it does not foresee further near-term tightening.
From social engineering to bearing the cost of COVID-19 treatment to financial reconstruction of Tamil Nadu's debt the debutant chief minister is emerging as a leader with a difference, says Shjne Jacob
In a fresh crackdown on foreign fundings to NGOs, the Union Home Ministry has put the Ford Foundation of the USA on its "watch list" and ordered that all funds coming from the international organisation have to be routed only with its nod due to "national security concerns".
A likely easing in inflationary pressures in the forthcoming months will reopen the window for the RBI to once again prioritise growth and ease its interest rates.
The divestment target remaining unchanged, from the 2019-20 interim Budget, this year means the Centre will now have to depend on non-tax revenue sources like dividends from the RBI, PSBs and PSUs, as there are real concerns of a tax revenue shortfall. The fiscal deficit target of 3.4% of GDP for 2019-20 is likely to be retained as well.
There were more than three losers against every gainer on BSE
Businessman P C Mustafa wants Indian Americans to return home, Cognizant CEO Francisco D'Souza outlines how Indian tech companies could grow, Gaurav Dalmia has some investment recommendations while Subramanian Swamy warns that India is flirting with a debt trap.
The move comes against the backdrop of rising instances of people getting duped by illicit money pooling activities
Y V Reddy argues that while the merits of the proposal to hold simultaneous elections to Parliament and all state assemblies appear self-evident, the reality might be very different.
On the rise in petrol prices, Union Minister Alphons Kannanthanam queried, "Who buys petrol... somebody with car, somebody with a bike. Certainly, they are not starving... somebody who can afford to pay has to pay."
Many countries advised the return the high-denomination notes to the central bank for destruction, but these continued to be legal tender. This and the introduction of a new Rs 2,000 note in India are the two major differences between Indian demonetisation and those of other countries.
The reform priorities are clear: enhance savings, improve productivity. Just 25 basis points of moving interest rate up or down would not boost investment: Former RBI Governor Y V Reddy.
'It's still very early. I have just been handed over the matter and therefore I haven't formed any views on it as yet,' Justice B N Srikrishna tells Pavan Lall.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
The markets will be eyeing the amendments.
The governance reforms, as an official put it, would bring in measures to track the performance of the executive-rank employees of the banks, intensively.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
'Because of the COVID-19 pandemic situation today, the revenues of the states have gone down, the GST money is not coming and all the states combined have lost more than Rs 365,000 crore in revenue.' 'To make it worse, the Government of India is not compensating us for the shortfall, which it must as per its Constitutional obligations.'
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
RBI's latest rate cut will bring down home, car loan's EMI.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
In the same breath, the RPI-A leader said, "No one can challenge Prime Minister Narendra Modi -- neither Congress president Rahul Gandhi, nor SP chief Akhilesh Yadav, nor BSP supremo Mayawati."
To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
Finance Minister Arun Jaitley said political parties will be entitled to receive donations by cheque or digital mode from their donors.
'The economy has to become the government's No. 1 priority, which it is not at the moment,' says T N Ninan.
With just 11.8 per cent, the nation lags behind its neighbours and peers when it comes to women's representation in national legislatures.
The issue of electoral bonds has snowballed into a political flashpoint after following reports that said the Reserve Bank of India and Election Commission had reservations against them but they were overrule by the Modi government.
'The market movement will be largely driven by earnings growth.'
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
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.
Just three years ago, at the end of March 2011, NRI deposits were only $52 billion, half of what they are today.
Most forecasts do not have a track record of transparency and accuracy
Around 250 financial market players will participate in a closed door meeting with Narendra Modi on February 27.
10 central trade unions have called a nationwide shutdown against 'anti-worker policies' of the central government. Apart from being successful in Bengal, Kerala and NE states, the bandh has also got support from Cong leader Rahul Gandhi and Shiv Sena in Maharashtra.
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