'If the NDA comes to power with 320-330 plus seats, then we could see some correction. We could possibly see a level of 19,500 to 20,000.' 'If the NDA comes to power with a majority of 400-plus, we could see the markets going to about 23,500-24,000 levels.' 'And from there we could see some correction because markets are expensive at this point of time and a correction is overdue.'
Gandhi said that the basic idea of these exercises is to ask all poor people whether they are Indian or not. He also said that PM's 15 friends will not have to show any document and the money generated will go into the pockets of those 15 people.
In the third of a six-part series T E Narasimhan finds out how the hub of India's firecrackers industry is coping after more than a month of the note ban.
The demonetisation move will force the Modi government to battle with a policy dichotomy, says N Sathiya Moorthy.
The central bank had earlier estimated the value of old Rs 500 and Rs 1,000 notes received, as on June 30, 2017, at Rs 15.28 trillion.
Congress president Rahul Gandhi said the Nyay plan is a game changer and that the scheme is "fiscally perfectly doable" and will not be implemented rashly.
'If the Modi government is successful in extraditing a high-profile fugitive such as Vijay Mallya or Nirav Modi before the 2019 election, the government will be able to link demonetisation to this and turn it into a positive.'
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
Available evidence suggests that we are on the way to a very costly failure of the current demonetisation scheme, says M R Narayana.
Unincorporated enterprises in the manufacturing sector lost nearly 1.8 million establishments and shed 5.4 million jobs between July 2015-June 2016 and October 2022-September 2023, an analysis of the fact sheet on 'Annual Survey of Unincorporated Sector Enterprises (ASUSE)' and the comparable 73rd round survey in 2015-16 by the National Statistical Office (NSO) showed. An estimated 17.82 million unincorporated enterprises operated in the manufacturing sector in October 2022-September 2023, nearly 9.3 per cent down from 19.7 million unincorporated enterprises in July 2015- June 2016.
'The word 'ally' in a coalition is misleading because it suggests someone who is always for you and with you. This is incorrect.' 'They are always for themselves and sometimes with you,' explains Aakar Patel.
The minister said demonetisation has increased the tax return filings and also increased the revenue of the states and the Centre immensely.
"It's (demonetisation) a disaster on economy of trust. In the last 20 years, the country has been growing very fast. But it is all based on acceptance of each other's word. By taking despotic action and saying we had promised but won't fulfil our promise, you hit at the root of this," Sen, also a Bharat Ratna awardee, said.
In a Facebook post on the second anniversary of demonetisation, Jaitley said in first four years of the National Democratic Alliance government, the number of income tax returns filers has gone up to 6.86 crore from 3.8 crore in May 2014.
The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation.
Pakistan may want to undertake a 'false flag' operation in J&K to divert attention from the situation in Balochistan and Khyber Pakhtunkhwa but infiltrating one SSG battalion into J&K and having two SSG battalions waiting to follow suit means war, which Pakistan cannot afford in its current economic crisis, notes Lieutenant General Prakash Katoch (retd).
The sabre-rattling between parties on rival sides of the political divide over demonetisation showed no signs of softening on Saturday with the government accusing Congress of engaging in "fear mongering" and the latter hitting back calling the exercise a "not well thought out move" whose after-effects will last long.
'In the coming months, expect more government action that will be packaged as an assault on black money,' warns A K Bhattacharya.
'RBI is taking all steps to complete the process expeditiously so as to release firm figures at an early date.'
Using the Mahabharat reference as a leitmotif, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday claimed that an atmosphere of fear prevails all around with a group of six trapping the entire country in a 'chakravyuh' he promised would be broken by the INDIA bloc.
"Cash is still quite high in the system. There is also stocking of Rs 2,000 notes in evidence. The expansion of digital payments is taking place all over the world. It is happening in India as well. The pace is much slower," S C Garg, who took VRS from government service after he was abruptly shifted out of the finance ministry, said in a note.
After adding 11.7 million workers in the October 2022-September 2023 period from the pandemic lows in April 2021-March 2022, total workers employed in the vast informal sector in India - at 109.6 million - still remains below the pre-pandemic period.
What should investors do post-demonetisation?
Despite failing to secure a simple majority in Parliament, we will continue to see him on TV, newspapers, magazines, bill boards, vaccination certificates, railway stations, bus shelters, airports, sea ports, on the highway and on rural roads, sighs A Ganesh Nadar.
'The government should come back as a job creator as it did in the 1960s and the 1970s.'
Please take the survey and let the government know what you think of demonetisation.
A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
Earlier at the University of California, Berkeley Gandhi had said that Modi had caused "tremendous damage" to India's economy with his "reckless and dangerous" decisions like demonetisation and "hastily-applied" GST.
Demonetisation will help in transfer of resources from tax evaders to government, he said.
Jaitley said that when cash is deposited in the banks, it loses anonymity and can be identified with its owner.
'The whole country supports the government. The exceptions are only two -- those who thrived on black money and those who are inimical to Indian interests,' argues Major General Mrinal Suman.
How the demonetisation drives in India and Venezuela have played out.
Will demonetisation lead to a rate cut, leading to higher quantum of lending?
It's been 13 days that the Winter Session commenced, but no work has taken place as MPs continue to spar over the note ban.
Private sector lender Bandhan Bank on Friday said its founder, managing director and CEO Chandra Shekhar Ghosh has tendered his resignation. Ghosh would retire from the services of the bank as MD and CEO upon completion of his current tenure on July 9, 2024, the bank said in a regulatory filing. "After leading the bank for almost a decade, including three consecutive tenures as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level," Ghosh said in a letter addressed to the board.
'Have a long way to go even as a small finance bank, both in terms of size, and in terms of fulfilling our aspirations for financial inclusion.'
The interchange fee -- paid by the card-issuing bank when a customer swipes at another bank's ATM, including at white-label ATMs -- may be raised to Rs 20 to Rs 23.
A day ahead of the nationwide protests planned by the opposition against demonetisation, Prime Minister Narendra Modi defended the move and warned unscrupulous people using the Jan Dhan accounts of the poor to launder their black money of strict action.
Paytm, the country's leading fintech player which had to shut its payment bank business following regulatory action, is revisiting its business strategy including partnership with lenders. Also, the company's founder and chief executive officer (CEO) Vijay Shekhar Sharma has decided to oversee the day-to-day operations with all the major verticals reporting directly to him now. "The thing on top of everyone's agenda is getting the core businesses back on track," a person in the know said.
'It is like bombing a building with 200 people to kill 5 terrorists.'
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