Searches conducted by the Enforcement Directorate (ED) under the anti-money laundering law rose by 86 times while arrests and attachment of assets jumped by around 25 times in the 10 years since 2014 compared to the preceding nine-year period, according to official data.
India's economic growth is estimated to have slowed down to 11-year low of 5 per cent during the current financial year ending March 2020.
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
Taking on board India's concerns, the G-20 Summit on Friday acknowledged that excess volatility of financial flows and disorderly movements in exchange rates can affect economic and financial stability of emerging markets and called for sound policies to address it.
Consumers during the quarter sold 37.9 tonnes of old gold, which is the highest quarterly sale after September 2016, when old gold sale, or scrap supply, was 39 tonnes.
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
Managing Brexit, inflation and banking reforms, along with the political environment, will be tough.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
The stakes are significant for the BJP in this round as the party had in 2019 won an overwhelming majority of these seats, including all in Gujarat, Chhattisgarh, Bihar and Madhya Pradesh, that will go to polls on May 7.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
Budget should raise revenues & reduce spending to increase capital expenditure.
The central bank said its board of directors had approved the broad contours of the proposals.
Gold is seen as a preferred asset for all types of investors, even central banks.
The Enforcement Directorate has arrested four persons including the MD of the Lava International mobile company and a Chinese national as part of its ongoing money-laundering probe against Chinese smartphone-maker Vivo, official sources said on Tuesday. They identified the four as Hari Om Rai, the MD of Lava International company, Chinese national Guangwen Kyang, chartered accountant Nitin Garg and a person called Rajan Malik. They have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA).
The Income Tax department Saturday issued an advisory that those permanent account numbers (PAN) which are not linked with Aadhaar by the end of March next year will be rendered "inoperative". "What is mandatory, is necessary. Don't delay, link it today!" the department said in a public advisory. "As per Income-tax Act, 1961, it is mandatory for all PAN holders, who do not fall under the exempt category, to link their PAN with Aadhaar before 31.3.2023. From 1.04.2023, the unlinked PAN shall become inoperative," it said.
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
More people will be literate, on the Internet, linked to the national identification scheme and likely to receive electricity, especially from alternative-energy sources.
If they will allow I will speak inside the parliament, the Wayanad MP said.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
NBFCs are mainly dependent on funding their operation from their own cash flows.
The two major railway unions have proposed to the government an unprecedented alternative to privatisation or inviting foreign investment, to help raise funds and improve revenue.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Struggling to gain political traction on issues of corruption, the West Bengal Bharatiya Janata Party is shifting its focus to emotive topics such as the Ram Temple in Ayodhya and the Citizenship Amendment Act (CAA) in a bid to achieve its target of securing 35 out of the 42 Lok Sabha seats from the state.
Lower inflation, FCNR(B) outflows likely to influence central bank decision
'The finance minister has messed up the economy.'
In its complaint against Shah, the Congress told the EC that the home minister claimed in a speech in Chhattisgarh's Rajnandgaon on October 16 that "...Bhupesh Baghel's government, for appeasement politics and vote bank politics, lynched Chhattisgarh's son Bhuneshwar Sahoo and got him killed..."
There is little scope for significant monetary easing even in the next fiscal year.
Top gainers in the Sensex pack included Infosys, Bajaj Finance, Maruti, HUL, HCL Tech and Reliance Industries, while M&M, IndusInd Bank, ITC, PowerGrid and L&T were among the losers. The NSE Nifty settled 190.80 points, or 2.51 per cent, down at 7,801.05.
The deficit stood over Rs 8 trillion in the first seven months of the current financial year. Non-tax revenues, comprising transfers from the RBI and dividends of the public sector units, shored up the Centre's revenues.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
In a big win for the Narendra Modi government, the Supreme Court in a 4:1 majority verdict on Monday gave its stamp of approval to the Centre's 2016 decision to demonetise the Rs 1,000 and Rs 500 denomination currency notes, saying the decision-making process was neither flawed nor hasty.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 in Parliament on February 1. The Budget is a statement of the government's estimated receipts and expenditures for a fiscal year (April 1 to March 31). It's divided into Revenue and Capital Budget. The Revenue Budget includes the government's revenue receipts and expenditures while the Capital Budget includes its capital receipts and payments.
Traders are waiting for the earnings season to kick off.
Union Home Minister Amit Shah on Wednesday blamed India's first Prime Minister Jawaharlal Nehru's "two major blunders" -- declaring a ceasefire without winning the entire Kashmir and taking the issue to the United Nations -- for the sufferings of the people of Jammu and Kashmir.
The former Union minister joined the UPA after holding talks with the Congress leadership.
The Union home ministry issued a notification, announcing the formation of the tribunal.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
