Asked about the deadline for finishing the counting of demonetised notes, RBI said “specified bank notes are being processed in an expedited manner”.
The RBI stated that the “inflation outlook is clouded by several uncertainties on the upside” and “fiscal slippage as indicated in the Budget could impinge on the inflation outlook”.
Unexpected November rains, rising crude oil prices and higher raw material costs due to GST caused prices to rise, say economists.
The GDP growth had hit a three-year low of 5.7% in the first quarter of 2017-18.
In the 13 of the 20 states that voted for change since 2014, all have had a declining rate of growth in per capita incomes for the five-year period prior to the election year.
Of the planned sum, recapitalisation bonds will account for Rs 1.35 lakh crore, while the rest will come from budgetary support and equity issuance.
The single most important policy failure of most Indian governments has been the near-complete neglect of public health and education.
Vinod Dua discusses why Arun Jaitley had to finally admit that the economy has slowed down and why gold imports have tripled compared to last year.
An RBI research paper revealed ‘unusual’ cash deposits totalling Rs 1.6-1.7 lakh crore during demonetisation.
May’s minority government gears up for the mammoth effort of hashing out Brexit while seeking to repair the damage wreaked by an ill-judged snap election.
PricewaterhouseCoopers, convicted in the Rs 7,000 crore Satyam scam, had also audited accounts of Vijay Mallya’s firm and the Global Trust Bank, which collapsed.
“Free and fair trade has been the greatest liberator of the world’s poor, and today’s announcement shows our commitment to helping developing countries grow their economies and reduce poverty through trade.”
While C. Rammanohar Reddy’s Demonetisation and Black Money tries to present a moderate view of demonetisation and its impact, what is missing is the way the impact is estimated and why official data may be lacking.
In ancient Athens, taxes were not how the wealth of the rich was shared with the people. Instead, this was achieved by a voluntary alternative: liturgy.
Our approach to economic growth has done more harm than good and must be be replaced with more appropriate goals.
A World Bank report says demonetisation caused a slight disruption to India’s growth recovery, but things seems to be getting better.
Many African countries are still searching for inclusive commercial farming models that can bring in private investment without dispossessing local people.
Hanan Odah, a Palestine refugee is living proof that as large businesses collapse, small-scale enterprises can survive and even thrive in the grassroots markets.
A Tunisian fruit vendor self-immolated himself after the police stopped him from working leading to clashes between the police and protestors.
One of Trump’s selling points was that he would ‘make America great again’: this meant bringing back the American dream.
The Indian Ocean Dipole phenomenon – which counters the impact of an El Nino – will have an incremental positive effect on the Indian monsoon, the chief said.
Australia’s economy in more recent years has struggled to manage the end of a mining investment boom that underpinned much of its wealth.
The markets argue that pursuing a specific 4% target takes away the flexibility needed in an economy that must grow by at least 8% to allow for full employment.
The main benefits of economic growth are being captured by a tiny elite. Despite global economic stagnation in the last decade, the number of billionaires in the world has increased to a record 2,199.
The Reserve Bank of India last month allowed banks to make AT1 coupon payments from statutory reserves, a move analysts said was aimed at easing pressure on banks to service coupons on the bonds.
In small and large events in the US and across the world, women went on strike demanding equality this International Women’s Day.
From women empowerment to soil health, the UID project, now more than ever, has become a crucial component of the Modi government’s governance agenda.
US shares of Infosys Ltd fell 1.2% and Wipro Ltd edged down 0.2% after the US Citizenship and Immigration Services said it would suspend “premium processing” of the visas for up to six months.
Budget 2017-18: With Focus on Rural Spending and Income Tax Cuts, Jaitley Ends Speech Sans Bombshells
The Wire’s coverage of the presentations of the Union Budget 2017-18.
From potentially slashing middle-class subsidies as a method of funding a UBI, to eyeing the RBI’s reserves as a means of creating a ‘Bad Bank’, this year’s Economic Survey tackles three pressing issues.
Despite all the talk of a big push to the agricultural sector, the last Union Budget turned out to be a missed opportunity to provide genuine relief to farmers. The government must rectify this.
Using tax collection numbers as signifiers of robust economic activity may be highly optimistic.
Earlier this week, Barack Obama, who served two terms as president of the US, gave his farewell address to the nation in Chicago. We take a look at some key aspects of his legacy including policies in the civil, military, economic, and environmental domains.
The Sena also said that the BJP is living in a fool’s paradise if they think that demonetisation has ended the menace of black money
The prime minister also pointed out that demonetisation should have been carried out in 1971 by Indira Gandhi, as was recommended by the Wanchoo committee.
Perhaps the biggest casualty of demonetisation has been the central bank’s loss of autonomy as it has allowed the government to ride roughshod over it.
M.K. Venu, founding editor of The Wire, in conversation with our correspondent Anuj Srivas on the implementation of demonetisation so far.
A fortnightly column from The Wire’s Public Editor.
The increase in deposits and the fall in lending rates is simply because the government has made it impossible to hold cash. When the economy does adjust to a new equilibrium, the fallout could well be significant.
Former Prime Minister Manmohan Singh strongly criticised the policy of demonetisation, calling it an “organised loot and legalised plunder of the economy” in Rajya Sabha on November 24.