In his massive election rallies, Prime Minister Narendra Modi often caught voters fancy promising that each individual would get Rs 15-20 lakh in his bank account if he came to power.
'LIC's proposed investment will come out of what is technically called the 'policyholders funds'.' 'As the name implies, these monies belong to policyholders; that is, you, me and 25 crore others who have taken a total of 30 crore policies from LIC.' 'It is not the government's or LIC's money to play poker with,' says S Muralidharan, former managing director, BNP Paribas.
Hence, the claims by the Government that this will end the menace of black money and corruption are simply outlandish. Also, the simultaneous introduction of Rs 2,000 note undermines their claim and it simply does not fit the storyline of an attack on black money and corruption.
The economy could return to 8% growth by the end of 2017-2018, says Arvind Panagariya, vice-chairman NITI Aayog.
Gujarat Chief Minister Narendra Modi could be in double trouble with Congress moving the Election Commission over his alleged "wrong" affidavits in the past on his marital status and government saying that a judge for the snoopgate probe will be named soon.
Control over PSU banks is what is allowing the government to drive this scheme.
Arun Jaitley had a tough fiscal hill to climb.
A glance back at some of the important ups and down Indian Inc faced in 2018.
A major criticism of the new law is that it can become an instrument of abuse as it confers the tax enforcement authorities with strong discretionary powers, says Paranjoy Guha Thakurta.
'Serious crimes of this sort cannot be excused merely because he has a family.' P Rajendran/Rediff.com was in the courtroom last week when Mathew Martoma was sentenced to nine years in prison for insider trading.
Indian economy about to take-off
'Biometric Aadhaar-based surveillance is not only about violation of privacy, but also about the treasure hunt for unprecedented financial surveillance and economic intelligence in the economic history of mankind,' asks Gopal Krishna.
