Lens on rural transactions. Only 38% of branches of scheduled commercial banks (SCBs) are in rural areas
Falling incomes and longer winter to translate into lower demand for at least some months.
Opposition leaders plan to go to the people to create awareness, as well as protest the "erosion of RBI's credibility" in Parliament, in the coming days and weeks to build public opinion against the Modi government's move to take away the RBI reserves, reports Archis Mohan.
Prof Ananth Narayan, well known financial expert who works as a faculty member at the SP Jain Institute of Management and Research and the RBI's nominee director on the board of Yes Bank, expects a double-digit contraction in India's GDP this fiscal year. In the first of a two-part interview to Shobha Warrier/Rediff.com, Prof Narayan, below, says, "Giving liquidity and loan to cover the cash flow problem is not sufficient because you are essentially increasing the debt of many of these companies. And they might not be able to bear the burden."
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
'By 2020 around 34% of India's population will be in the 15-34 age group.' 'More than 70% of them live in rural areas.' 'Their energy and enthusiasm need to be tapped in order to meet their aspirations and transform agriculture and the rural economy,' says P K Joshi.
The RBI projection of 6.9 per cent GVA growth for the current fiscal comes on the back of the Economic Survey last week forecasting economic growth of 6.5 per cent.
'While the farmers are reeling under a huge debt burden, crop loss due to locust attacks and erratic rainfall, the state is also facing a COVID-19 challenge.' 'In this situation, you have Congress and BJP MLAs trying to outwit each other in a game of thrones'
Indian economy grew 7.9 per cent in the March quarter.
'The economy needed 3 or 4 major fixes. The major one was, of course, the direct tax structure, but we ended up complicating the existing convoluted tax structure,' says M R Venkatesh, chartered accountant and lawyer.
'Some co-operative banks are dominated by politicians and were reportedly being used to launder Rs 500 and Rs 1,000 notes.'
Fresh guidelines were issued by the government on Wednesday for enforcing the second phase of the coronavirus lockdown, with the Union home ministry barring all kinds of public transport and prohibiting opening of public places during this period.
In the last Budget, the government had come out with similar compliance window for people holding undisclosed assets abroad.
Analysts have started talking about at least a 25 bps cut immediately.
Ahead of the assembly elections, the saffron allies may be ecstatic over the swelling, but it's a double-edged sword with many older leaders wondering what they have got after putting in years of hard work, reports Radhika Ramaseshan
This is the highest closing for both the indices since May 15.
HDFC Bank was the top loser in the Sensex pack, falling 2.99 per cent, followed by Adani Ports at 2.87 per cent.
India staring at first drought in six years.
Levying buyback tax at a flat rate of 20 per cent (plus applicable surcharge and cess), irrespective of the period for which shares are held will be a dampener for equity shareholders who take inherent risks while investing, says Hitesh D Gajaria, partner and head of tax, KPMG in India.
Centre, states to share the amount in 60:40 ratio to link unconnected rural habitations and upgrade existing roads till 2020
'Which path should Muslims take politically as they have been completely marginalised?'
A third of FMCG sales and half of motorcycle sales come from the hinterlands
'Businessmen are reluctant to invest because there is a fear that private investors are being targeted by various agencies.'
Announcing MSP at an elevated level will not be enough. Growers must be able to procure inputs, such as quality seeds, plant nutrients and irrigation water at reasonable prices, says Kunal Bose.
'The situation is so bad that they are now sleeping on bridges or footpaths.' 'Therefore, they want to go and die before their parents or wife in case they get infected with COVID-19.' 'Workers don't want to die a dog's death in cities.'
'The revival of household savings and investment is the litmus test of whether we are on the road to recovery,' says Nitin Desai.
'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 extra borrowing implies Jaitley will have extra spending space in the Union Budget for FY19, the last full one before the 2019 general election
'It was like a doctor giving some simple pain killers to a patient in dire requirement of chemotherapy.' 'There was no sense of urgency or desperation in this particular Budget.'
It was the second straight week of gains for the benchmarks.
Laying the roadmap of the Narendra Modi government for its second term, President Ram Nath Kovind on Thursday said empowering every person is the main goal for a 'New India' by 2022 on the back of a "stronger mandate" for continuing uninterrupted the journey of development started in 2014.
The formula for success of farm economy is very simple -- farmers should be able to produce more from the same piece of land at reduced cost while minimising risk and be connected to market to get higher realisation for their produce, points out Siraj Chaudhry.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
The Congress chief said if his party is elected to power, its government would spend 6 per cent of the GDP on education.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
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