'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
In the last 11 years, India and the world witnessed what he stood for, what he promised and did not deliver, and what he actually stood for and practised without fearing how history would judge him. Modi's tenure has been punctuated with headline-grabbing decisions, symbolic gestures, and stage-managed moments that continue to define his leadership and India's politics, points out Ramesh Menon.
Events proved that on every count the RBI had accurately predicted both the damage and the lack of benefit. What the RBI was hiding was the fact that Modi had ignored its concerns -- all of which turned out to be true -- and gone ahead anyway, asserts Aakar Patel.
The BJP flayed Gandhi for "echoing" Trump's "dead economy" jibe at India, calling it a "shameful" insult to the aspirations, achievements, and well-being of the people of the country.
No experts, clearly, were involved in the design of these new tariffs, which have been the subject of bemused wonderment across the world in how completely they ignore logic, rationality, fairness, and economic theory, observes Mihir S Sharma.
'...because it is still a legal tender.'
When the government chooses to either ignore or use identity documents only when it suits them, it shakes people's sense of stability, notes Shyam G Menon.
'The long term strategy is that this government wants to create a second class citizen list.'
When the government chooses to either ignore or use identity documents only when it suits them, it shakes people's sense of stability, notes Shyam G Menon.
'40 percent of voters in Bihar will be excluded.'
Justice Bhushan Ramkrishna Gavai, India's 52nd chief justice and its first Buddhist one, has played a key role in shaping the judicial landscape, penning about 300 verdicts, including landmark rulings on constitutional issues, liberty, and perhaps most important against the executive's 'bulldozer justice'.
'Once the Hon'ble Supreme Court has declared the law, we are obliged to accept it. However, it is necessary to point out that the majority has not upheld the wisdom of the decision; nor has the majority concluded that the stated objectives were achieved,' the senior Congress leader said in a tweet.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
She also said there was no independent application of mind by the Reserve Bank of India and only its opinion was sought, which cannot be said to be a recommendation.
On November 8, 2016, Prime Minister Modi had announced the decision to withdraw Rs 500 and Rs 1,000 denomination notes with the ultimate aim of reducing corruption and black money in the economy.
From demonetisation to sub-categorisation of Scheduled Castes to bulldozers, Justice Gavai has been part of several judgments.
West Bengal Chief Minister Mamata Banerjee accused the BJP-led Centre of spreading communal hatred and failing to protect the country's border. She alleged that families affected by recent violence in Murshidabad were being prevented by the saffron camp from meeting her. Banerjee also criticized the National Human Rights Commission (NHRC) for its visit to Murshidabad and questioned its priorities, asking whether NHRC members visited BJP-ruled Uttar Pradesh and ethnic violence-hit Manipur.
The Bharatiya Janata Party rejected this was any sort of demonetisation and instead reminded the Congress that even during the rule of Manmohan Singh, old currency notes were taken off circulation.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
Justice Bhushan Ramkrishna Gavai was on Wednesday sworn in as the 52nd Chief Justice of India.
A five-judge Constitution bench headed by Justice S A Nazeer, who will retire on January 4, is likely to pronounce its verdict on the matter on the said date.
Yadav further accused the BJP of "using distractions" to avoid addressing real issues such as rising unemployment, inflation, lack of investment in Uttar Pradesh, and failing healthcare facilities.
Chief Justice of India Sanjiv Khanna has recommended Justice Bhushan Ramkrishna Gavai as the next CJI. Justice Gavai, the second most senior Supreme Court judge, will become the 52nd CJI on May 14, 2024, after CJI Khanna's retirement on May 13. Justice Gavai has served on several important Constitution benches and has been a part of landmark verdicts, including the one upholding the Centre's decision to abrogate provisions of Article 370.
'Tomorrow I will go back home, clean my bed, pay my rent, all the normal things that a person does.' 'I'll still be the same person for my friends, my parents.' 'That grounding is the real thing, rather than the feeling of having made it.'
'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
It is not clear whether the two judgements will be concurring or dissenting.
The top court said in order to declare whether the exercise is academic or infructuous, it needs to examine the matter since both sides are not agreeable.
Hailed as the architect of India's economic reforms, former prime minister Manmohan Singh in one his last interviews had said in 2019 that the country's economy was 'over-regulated', the government exerted control and interferences were aplenty with even regulators having 'morphed into controllers'.
It will be interesting to see what shifts have been recorded in the last decade-and-a-half -- from the effects of demonetisation and Covid's second wave to the drop in fertility and increase in farm workers -- but we will only know this if and when the Census is conducted, points out Aakar Patel.
The Enforcement Directorate (ED) has seized its biggest-ever cryptocurrency worth Rs 1,646 crore in a money laundering investigation into a fraud investment scheme called BitConnect. The scheme, which ran between 2016 and 2018, promised investors high returns through a proprietary trading bot but was found to be a sham. The ED tracked transactions through the dark web and seized the cryptocurrency from numerous wallets. This is the agency's largest-ever seizure of virtual digital assets and the investigation is ongoing.
P K Mishra, a retired IAS officer of the Gujarat cadre, is currently serving as the principal secretary to the prime minister.
The jury is still out on the decision to demonetise high value currency notes on November 8, 2016, with the government claiming it has helped greater formalisation of the economy while critics saying it has failed to curb black money and reduce dependence on cash. On November 8, six years ago, Prime Minister Narendra Modi had announced the demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to promote digital payments and curb black money, besides eliminating terror funding. As per a Reserve Bank data, currency with the public has jumped to a new high of Rs 30.88 lakh crore an October 21, indicating that cash usage is still substantial even six years after the demonetisation move.
The Reserve Bank on Wednesday said 98.12 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,691 crore worth such notes are still with the public. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
Technology is rapidly reshaping industries that have long been rooted in tradition, driving a wave of innovation that is transforming everything from finance, banking, steel to manufacturing.
'I want the prime minister to be punished because he put our country in difficulties as he took this decision without Cabinet approval.' 'When he had already ordered the printing of new currency notes on May 19, 2016, why did he tell lies to the country?'
The Reserve Bank on Monday advised banks to provide shade from the sun and water to customers waiting to exchange or deposit Rs 2,000 notes. It can be noted that during the note ban in 2016, there were allegations of customers dying while waiting in queues to exchange bank notes. Following Friday's announcement of withdrawing Rs 2,000 notes -- the notes continue to be legal tender unlike demonetisation exercise -- there were concerns about customers facing inconvenience, especially given the summer being at its peak.
The Reserve Bank of India (RBI) on Tuesday told the Delhi high court that withdrawal of Rs 2000 notes is not demonetisation but a statutory exercise, and the decision to enable their exchange was taken for operational convenience.
The Reserve Bank on Monday said 98.08 per cent of the Rs 2,000 banknotes have been returned to the banking system, and only Rs 6,839 crore worth such notes are still with the public. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes from circulation.
