Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
LJP sources said the BJP's defeat in the five state polls have ignited a rethink in the party over its ties with the saffron party.
Mitra also said currency demonetisation has led to closure of small industries and left hundreds jobless across the country
'Right now, politics is operating in a state of suspended animation. That works to Modi's advantage.'
Hours after the AAP announced its night-long sit-in against the Lieutenant Governor, BJP MLAs also started an overnight dharna on the assembly premises demanding the sacking of ministers Manish Sisodia and Satyendar Jain over alleged corruption.
'On the road, you see only youth in Swiggy, Big Basket and Zomato uniforms.' 'Just now, I had a delivery from Amazon, and do you know what his qualification was? He was an engineering graduate!' 'The Ola driver who took me to the airport had an MCom degree. 'Where is the match between education and employment?'
The agitated workers waved black flags and chanted slogans against him.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
In a bid to break the logjam in Parliament over demonetisation, the government on Wednesday reached out to the opposition with Parliamentary Affairs Minister Ananth Kumar holding talks with Congress and TMC leaders.
India's work participation rate is lower than Pakistan and Bangladesh. Are Indians lazy? No, there are no jobs, asserts Aakar Patel.
A combination of demonetisation, a poorly and hurriedly implemented GST, and more recently the "botched up" lockdown of the economy to control the spread of Covid has brought the economy to its knees.
The economist was also critical of demonetisation and the way Good and Services Tax was implemented.
The Congress on Monday stepped up its attack on the BJP-led Centre over the issue of price rise with Rahul Gandhi saying the biggest problems facing the country were unemployment, inflation and growing hatred.
'With 27 days to go, the total bank deposits has come tantalisingly close to the Rs 14 lakh crores of banned notes which was in the financial system on November 8.' 'Black money hoarders may have actually laundered their black money into white,' argues Rajeev Sharma.
Instead of conceding the demand for a cut in personal income-tax rates, Finance Minister Nirmala Sitharaman should phase out many exemptions in both personal and corporation taxes, suggests A K Bhattacharya.
He, however, did not make it clear what aspects he wanted Modi to admit as the "mistake"
'Modi is now the biggest messiah of OBCs and Dalits as V P Singh once was.'
'No finance minister has the capacity to put the economy in an ICCU just like no finance minister has the capacity to take it for 10% growth!'
It may well be possible to defeat Modi. But nobody seems to know how, points out Vir Sanghvi.
A BJP leader said the money would be spent on welfare schemes for the poor, modernising of defence forces, and improving schools.
'The choice of chief minister after the win is a pointer to what issues really mattered at the polls.' 'Perhaps, demonetisation was an electoral side issue -- a reflection of the disconnect between commentators in the cities and the realities on the ground,' says Somasekhar Sundaresan.
'That will affect the economy, employment, agriculture, and ultimately, youngsters, the working class and job opportunities.'
He said the move is aimed at benefiting a 'particular political party'.
'A loss of seats for the Trinamool in this election will weaken its hold in Bengal, which will not augur well before the assembly election in 2021.'
The Modi government is notoriously honest about one fact: It does not listen to economists, observes Shekhar Gupta.
In December 2016, RBI had granted additional 60 days for repayment of certain loans
Indian elections are won and lost on 'negative' imageries and campaigns - but not certainly on 'negativity' as a political trait and electoral creed, asserts N Sathiya Moorthy.
'This fall is nothing. We could see worse if everybody hits the panic button.'
Since jobs will remain scarce for the foreseeable future, an unemployment allowance should be the next big social-security initiative, suggests T N Ninan.
'Hindus bathe with lakhs of people, but these Hindutvawadis were standing alone in the Ganges. Even Rajnath Singh and Yogi Adityanath did not find a place'
Appearing on national television to mark the silver jubilee of the party he founded in 1997 after breaking away from the Janata Dal, Prasad, who is suffering from many ailments and convalescing at his MP daughter Misa Bharti's residence in New Delhi, recalled his struggles for OBC quota and the fight for the rights of the weaker sections.
Ramesh Menon, the veteran journalist suggests Prime Minister Narendra Damodardas Modi what he should do if he wants to win 2024 Lok Sabha elections.
Union ministers fanned out across the country to highlight the crackdown on black money to mark the first anniversary of demonetisation on Wednesday which the Bharatiya Janata Party celebrated as "Anti Black Money Day" while the Congress-led Opposition observed it as "Black Day" with street protests.
Mihir S Sharma outlines why this year's Union Budget does not respond to the needs of India's economy, or attempt to frame the economy's future.
We have not suffered such huge price shocks across so many basic commodities, at the same time, in decades. Has the inflationary impact of all this been factored into stock prices as yet, asks Debashis Basu.
Trinamool Congress MPs accused the Modi government of having imposed a "super emergency" by launching the exercise and engaging in "vendetta politics" by arresting two party lawmakers after it opposed the "draconian" move.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
Fatorda, Belagavi, Jaunpur, Mehsana, Dehradun are on RG's itinerary.
Rahul attacked Modi and BJP, alleging that 'politics of divide and polarisation is radicalising people in India'.
