Stating that pushing GDP growth, which has slipped to 5-year low of 6.8 per cent in 2018-19, is the top priority, President Ramnath Kovind said Modi govt will bring more reforms and raise farm investments to boost growth.
'Our liquidity is strong for the next 15-20 days.' 'But if the situation worsens drastically, then we will have to think about laying off people.'
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
'It seems a wiser decision to pull out at the right moment than regret after joining the pact,' explains Dr Rahul Mishra.
Seen as a major initiative, the 'strategic partnership model' aims to create a vibrant defence manufacturing ecosystem in the country through involvement of both the major Indian corporates as well as the MSME sector.
Finance ministers from Congress-ruled states say they have alerted the Centre about the problems in GST for several months, but it is only now with the Gujarat assembly election around the corner that the Modi regime has started heeding these suggestions.
Most industry players in Tirupur feel that though the idea of GST is good, the problems are largely due to its poor implementation. Refund delays, withdrawal of incentive schemes make Made-in-Tirupur products costlier by 10-15 per cent, say entrepreneurs.
Over 75 per cent of the bank's Rs 175 crore NPA arises from Uttar Pradesh, Madhya Pradesh and Maharashtra.
'Igniting in this country, a false feeding of nationalism combined with religion.' 'They are promoting the religion of the majority people in the country to feed their political agenda.'
The PM observed the history of India's struggle for independence was very long, very vast and filled with countless sacrifices.
The corridor is expected to attract around Rs 1,250 billion investment and create 4,00,000 jobs. It will start from Mysore, pass through Bengaluru in Karnataka, to connect with Chennai, Coimbatore, Salem and Tiruchy in Tamil Nadu.
For maintaining sustained demand in domestic consumption and household investment, the economy must generate enough jobs in the formal sector,says Shubhashis Gangopadhyay.
In the second of a six-part series, Sanjay Jog of Business Standard walks across the streets of Indore to find out how it has been hit by demonetisation.
'Our government has created 10 million jobs when the Indian unemployment rate is at a 45-year high.'
He dropped those perceived to be non-performers or whose integrity came into question, and also where it was felt they needed to learn a lesson or two in humility.
'This prime minister thinks he knows everything.' 'He has to consult, he has to talk and he has to mobilise the best people, but having seen him function, I have no expectations from him.'
As the 50-day deadline for completion of demonetisation process draws near, there is a growing consensus among bankers that the restrictions on withdrawal would have to continue even in the New Year so as to maintain orderly working at the banks.
Despite the 6-month high, trade deficit has widened to a four-month high of $14.62 billion, as imports rose by 14.85 per cent during the month, reports Subhayan Chakraborty.
The top 10 in terms of the number of MSMEs is dominated by the larger states with Uttar Pradesh at the top.
Some may lose competitiveness due to higher compliance costs
'In old India, there was no hatred, anger or lynching. New India is one where humans are enemies of each other'
For the first time the government is organising an event where consolidated efforts would be made to help start-ups.
The opposition parties vehemently criticised the new 'one nation, one tax' system having four different rates instead of a single rate adopted in some countries including the UK and Singapore.
Rajan's departure from the RBI is an end to 'outside interference' in policy making, government insiders feel.
'He has attacked our enemies in their own backyard.'
A political party's manifesto is the first stage of building a compact with the voters in any governance plan. If that compact is dependent on a document that reeks of fiscal imprudence and lacks credibility, it is a serious setback to the country's democracy and governance, says A K Bhattacharya.
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
'People can start making a safety net, and that safety net should be at least three months of your monthly salary.' 'If somebody is earning Rs 25,000 then s/he should have at least Rs 75,000 in her/his bank account, so that if anything like this (lockdowns) happens in the future, they are not struggling.'
Fiscal discipline has been maintained but toxic assets worth Rs 7 crore are a massive headache
Making light of his critics, he also said there are people who send him 'anonymous thank you notes' even when he on a plane.
'It does not look like unemployment is a priority for the government.' 'If there was one external factor which could have made an impact on low investment and low jobs, it was the Budget and it has not made any difference.' '2020 is going to be a difficult and challenging year.'
The President said that for rapid creation of jobs in the manufacturing sector, the government will strategically promote labour-intensive manufacturing.
'Slowing down of the economy was mainly due to the demonetisation shock...' 'If you cut off the oxygen supply to a patient in the ICU and the patient dies, the patient does not come alive again when you restore the oxygen supply.'
Home buyers would be able to invoke Section 7 of the IBC against errant developers.
Chief Minister Akhilesh Yadav, Bahujan Samaj Party supremo Mayawati and other senior politicians on Sunday cast their votes in the third phase of Uttar Pradesh elections and claimed that their parties will form the next government.
'The BJP certainly has an edge as the BJP has gone ahead of the Congress in pleasing the trading community.'
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
'The worst is over, but it may take a couple more years for the banking system to re-establish the growth process.' 'Banks are the major pillars in an economy's revival.' 'Without banking operations and lending, revival will not happen.'
This after high drama in the House over what opposition charged was "intimidation" by the treasury benches to get the motion for sending the amendment to the RTI Act to the select committee rejected.
The Minister said the department is yet to calculate the exact interest-free loans to be provided to the industry.
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