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Moneycontrol

Economy

  • West Bengal FM Amit Mitra slams note ban

    West Bengal FM Amit Mitra slams note ban   

    Joining the crusade against the currency ban, Mitra said the government was not prepared to implement this scheme. Due to the cash clean-up, informal sector in all states is in deep trouble, he said.

    30 Nov 2016, 9.00 pm  |  Source: CNBC-TV18

  • Indian economy was racing before Modi removed oxygen of cash

    Indian economy was racing before Modi removed oxygen of cash  

    India posted on Wednesday the world's fastest growth rate for a large economy in the September quarter, yet that offered cold comfort after misery inflicted by the government's unexpected move to remove high denomination banknotes...

    30 Nov 2016, 8.59 pm  |  Source: Reuters

  • Demonetisation a big step towards cashless economy: Amitabh Kant

    Demonetisation a big step towards cashless economy: Amitabh Kant   

    Even as the country's citizens grapple with demonetisation, NITI Aayog chief Amitabh Kant says the move is an opportunity to make India a formal and cashless economy.

    30 Nov 2016, 8.19 pm  |  Source: CNBC-TV18

  • Cash crunch cripples SMEs; fillip after one quarter

    Cash crunch cripples SMEs; fillip after one quarter  

    In wake of the government's move to demonetise Rs 500 and Rs 1,000 currency notes, small and medium enterprises (SMEs) are facing temporary difficulties for making payments but are coping with the fall out of demonetisation.

    30 Nov 2016, 7.06 pm  |  Source: Moneycontrol.com

  • Currency overhaul could drag FY17 GDP to sub 7%: Pros

    Currency overhaul could drag FY17 GDP to sub 7%: Pros   

    Experts believe the lower GDP numbers for September quarter may push down FY17 GDP growth. Indranil Pal, Chief Economist at IDFC Bank is expecting a sub-7 percent GDP for FY17 taking into account the impact of demonetisation.

    30 Nov 2016, 6.34 pm  |  Source: CNBC-TV18

  • India`s Q2 GDP grows 7.3%, but slowdown ahead on demonetisation

    India's Q2 GDP grows 7.3%, but slowdown ahead on demonetisation   

    Growth of real or inflation-adjusted gross domestic product (GDP) — the value of all goods and services produced in the country — moderated from 7.6 percent in July-September 2015, national income data released on Wednesday sh...

    30 Nov 2016, 5.36 pm  |  Source: Moneycontrol.com

  • October core sector output up 6.6%, highest since April

    October core sector output up 6.6%, highest since April   

    Strong performance led by steel, cement and petroleum refinery surged core sector growth to 6.6 percent in October, highest since April. The combined index of eight core industries now stands at 188.1 in October, which is 6.6 perc...

    30 Nov 2016, 5.31 pm  |  Source: Moneycontrol.com

  • India only area of strength in Asian steel market: Moody`s

    India only area of strength in Asian steel market: Moody's  

    India is the "only area of strength" in the subdued Asian steel market aided by rising demand and government measures to curb imports like MIP and anti-dumping duties, Moody's Investor Service said today.

    30 Nov 2016, 5.20 pm  |  Source: PTI

  • COMMENT: 5 reasons why NPAs may not come down anytime soon

    COMMENT: 5 reasons why NPAs may not come down anytime soon  

    Total NPAs now stand at Rs 6,30,323 crore as compared to Rs 5,50,346 crore in June 2016. Why the number is a serious issue can be judged from the fact that it is well above the net worth of public sector banks, which stood at Rs 4...

    30 Nov 2016, 5.04 pm  |  Source: Moneycontrol.com

  • April-Oct fiscal deficit reaches 79.3% of full-year target

    April-Oct fiscal deficit reaches 79.3% of full-year target   

    The fiscal deficit for the April-October period widened marginally to Rs 4.2 lakh crore against Rs 4.1 lakh crore on a year on year basis.

    30 Nov 2016, 3.57 pm  |  Source: Moneycontrol.com

  • Demonetisation despotic action, undermines trust: Amartya Sen

    Demonetisation despotic action, undermines trust: Amartya Sen  

    "It (demonetisation) undermines notes, it undermines bank accounts, it undermines the entire economy of trust. That is the sense in which it is despotic," Sen told NDTV.

    30 Nov 2016, 3.44 pm  |  Source: PTI

  • India`s low broadband penetration a concern: Trai Chairman

    India's low broadband penetration a concern: Trai Chairman  

    "There is one area where we need to do a lot of work and that area is broadband connectivity," Trai Chairman, RS Sharma said.

    30 Nov 2016, 3.24 pm  |  Source: PTI

  • India to have REIT-eligible stock worth $64-77 bn by 2020:Report

    India to have REIT-eligible stock worth $64-77 bn by 2020:Report  

    This was stated in a joint report titled "Revitalizing Indian Real Estate: A new era of growth and investment" by Cushman & Wakefield and Global Real Estate Institute (GRI) released today.

    30 Nov 2016, 3.21 pm  |  Source: Moneycontrol.com

  • Insolvency and Bankruptcy Code to kick in from December 1

    Insolvency and Bankruptcy Code to kick in from December 1  

    The Code will help quicker resolution of cases and unlock value of assets, Mamta Binani, President, ICSI, the apex body of company secretaries, told reporters here today.

    30 Nov 2016, 3.10 pm  |  Source: PTI

  • Commerce Min had suggested for fair valuation of rupee: Nirmala

    Commerce Min had suggested for fair valuation of rupee: Nirmala  

    Commerce and Industry Minister Nirmala Sitharaman said that there are many factors that influence exports including demand intensity, market share, price elasticity, valuation of other currencies.

    30 Nov 2016, 3.10 pm  |  Source: PTI

  • Demonetisation to benefit economy in long run, says Panagariya

    Demonetisation to benefit economy in long run, says Panagariya  

    In contrary to the Panagariya's views, many economists and analysts have expressed apprehensions that demonetisation may pull down the economic growth in the second half of this fiscal.

    30 Nov 2016, 2.56 pm  |  Source: PTI

  • India to invest $20 bn in gas fields in next 5-7 yrs: Pradhan

    India to invest $20 bn in gas fields in next 5-7 yrs: Pradhan  

    The investment will be primarily in developing natural gas discoveries by state-owned ONGC and Reliance Industries-BP joint venture off the east coast, the minister said at CII's 'Global Energy Dialogue' event here.

    30 Nov 2016, 2.48 pm  |  Source: PTI

  • Govt returning 50% of black money to hoarders: Rahul Gandhi

    Govt returning 50% of black money to hoarders: Rahul Gandhi  

    The Taxation Laws (2nd Amendment) Bill was passed by the Lok Sabha yesterday, providing a window to legalise black money after paying tax on the amount post-demonetisation. As per the Bill, those who disclose black money to banks ...

    30 Nov 2016, 2.04 pm  |  Source: PTI

  • Solar power tariff touches record low of Rs 3 a unit

    Solar power tariff touches record low of Rs 3 a unit  

    According to statement Amplus won the bid under the 500 MW rooftop grid connected scheme in different states floated by SECI.

    30 Nov 2016, 12.36 pm  |  Source: PTI

  • Tough to gauge impact of unparalleled India cash ban: JPMorgan

    Tough to gauge impact of unparalleled India cash ban: JPMorgan   

    A major challenge with demonetisation is the absence of a comparable template from other country where such a radical reform was passed says Jahangir Aziz, Asia Economic Research at JP Morgan.

    30 Nov 2016, 10.46 am  |  Source: CNBC-TV18

  • Insurers can`t accept defunct Rs 500/1000 note towards premium

    Insurers can't accept defunct Rs 500/1000 note towards premium  

    Irdai said it has been brought to its notice regarding a news item floating in the press that the Authority has instructed insurers to accept old Rs 500 and Rs 1000 notes for depositing insurance premium.

    30 Nov 2016, 8.26 am  |  Source: PTI

  • Taxation Laws: Why they are a positive stroke for the nation

    Taxation Laws: Why they are a positive stroke for the nation  

    Further to the announcement of demonetization by way of withdrawal of bank notes of Rs. 500 and Rs. 1000 denomination, the government has taken a step forward to curb black money. Concerns were raised that some of the existing pro...

    30 Nov 2016, 8.09 am  |  Source: Moneycontrol.com

  • Strong GDP may offset India`s demonetisation chills

    Strong GDP may offset India's demonetisation chills  

    Having taken credit for putting life back in a moribund economy when he took power 2-1/2 years ago, Prime Minister Narendra Modi's crackdown on tax dodgers and counterfeiters by removing 500 rupee and 1,000 rupee banknotes from ci...

    30 Nov 2016, 7.56 am  |  Source: Reuters

  • No ground work before announcing demonetisation: Tharoor

    No ground work before announcing demonetisation: Tharoor  

    The Congress leader alleged Prime Minister Narendra Modi took the decision in zeal but the real ground work which should have been done was missing.

    30 Nov 2016, 7.54 am  |  Source: PTI

  • `Steps should have been taken to compensate demonetised money`

    'Steps should have been taken to compensate demonetised money'  

    "When 86 percent of the money in the country is demonetised, adequate measures should have been taken to compensate it with new currencies," he told reporters here.

    30 Nov 2016, 7.54 am  |  Source: PTI

  • Demonetisation risky but brave decision by PM: MP CM

    Demonetisation risky but brave decision by PM: MP CM  

    "It was a risky but a very brave decision by the Prime Minister against corruption, fake currency and black money," he was quoted as saying by News Nation channel.

    30 Nov 2016, 7.54 am  |  Source: PTI

  • Strong IT must for better implementation of GST: Grant Thornton

    Strong IT must for better implementation of GST: Grant Thornton   

    Malaysia is one the recent countries to have gone live with the implementation of goods and services tax (GST). Lorraine Parkin, APAC, Grant Thornton, who has closely worked with Malaysia in introducing the indirect tax regime, ta...

    29 Nov 2016, 8.48 pm  |  Source: CNBC-TV18

  • Credit growth hits double digit at 12% in Sep quarter

    Credit growth hits double digit at 12% in Sep quarter  

    Deposit expansion of scheduled commercial banks (SCBs) stood at 12.9 per cent while credit growth was at 12.1 per cent for the quarter ended September, led by higher contribution by public sector banks, RBI today said.

    29 Nov 2016, 7.56 pm  |  Source: PTI

  • Going cashless: India home to 80 cr digital cards, says Prasad

    Going cashless: India home to 80 cr digital cards, says Prasad   

    In conversation with CNBC-TV18, Ravi Shankar Prasad, IT Minister, said the demonetisation drive is a transformative programme to make India more honest.

    29 Nov 2016, 7.17 pm  |  Source: CNBC-TV18

  • Inflation is expected to moderate further: Dun & Bradstreet

    Inflation is expected to moderate further: Dun & Bradstreet  

    According to the report, following the demonetisation move, there has been a decline in consumer demand and moderation in money supply, which in turn is expected to exert downward pressure on inflation.

    29 Nov 2016, 7.00 pm  |  Source: PTI

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