"After this demonetisation,56 lakh people have joined the Income Tax paying people. There will be further addition and once the tax net is widened, tax rate will come down," he said, speaking as chief guest at the 160th anniversary celebrations of Cochin Chamber of Commerce and Industry here.
The opposition party alleged the Modi government is working under its model of "bypass, bulldoze and betray", which is an "attack on democracy".
Many people termed British rule "divine dispensation' during the colonial era, the Sena recalled in an editorial in its mouthpiece Saamana.
The Moody's upgrade, the first since January 2004, lifted India up a notch to the second-lowest level of investment grade. Standard & Poor's and Fitch have had the country, the third-largest economy in Asia, at the lowest investment grade level for about a decade.
Manmohan Singh said demonetisation had caused a lot of distress to farmers, small industrialists and many people died while standing in queues in front of banks to get cash because of the ban of Rs 500 and Rs 1,000 currency notes last year.
The former Union minister, who was speaking at an event here last evening, also criticised the BJP-led government over the way GST was rolled out, although, he said, the concept of one nation one tax was "a great idea."
Moody's has also raised India's long-term foreign-currency bond ceiling to Baa1 from Baa2, and the long-term foreign-currency bank deposit ceiling to Baa2 from Baa3.
The Indian economy grew at its slowest pace in three years between April and June at 5.7 percent. A Reuters poll conducted in October showed economists predict South Asia's largest economy will grow by 6.7 percent in the fiscal year ending March 2018.
Jaitley made this comment before a gathering of investors while highlighting various achievements like ease of doing business ranking by the World Bank.
While demonetisation dampened petrol demand growth to 3 per cent in the January-March quarter, slowest in the past decade, the growth will recover in the first quarter of 2018 to around 9 per cent, said the research and consultancy firm.
According to Flexing It, a platform for independent consultants and flexible management talent in India and South East Asia, 'mature leaders' with 16-20 years of professional experience command highest payouts, with 50 per cent charging over Rs 23,000 per day and 25 per cent charging as high as Rs 74,000.
The digital payments sector in India is estimated to grow to USD 500 billion by 2020, up from roughly USD 50 billion last year.
Here are a 15 instances, collated from the I-T department’s report, of how people deposited large previously undisclosed cash amounts to dodge taxmen.
Hundreds of bullion traders, property dealers, civil contractors, shell companies, petrol pump owners and cooperative societies moved thousands of crores into multiple bank accounts during November 8, 2016 to December 30, 2016 to obscure the trail of slush funds
"There were many 'shahensha' (king) who brought their own currency. Some even kept previous currency in circulation while introducing the new one. But, there was a shahenshah 700 years back - Muhammad Bin Tughlaq - who introduced his own (currency) while discontinuing the old currency," he said at a function here.
“Rozgaar (employment) aur naukri (jobs) do bohot alag cheezein hain,” Shah said during Network18's 'Agenda Gujarat' event. Elaborating on this point, the BJP party president said that thinking that all Indians would someday get jobs was not a practical thought.
Guangzhou continued to top the index with a staggering 36.3 per cent price surge in luxury homes but the overall narrative for China was of a slower growth
SH Kelkar and Company reported a subdued set of Q2 numbers. In an interview with CNBC-TV18, Kedar Vaze, CEO of the company discussed the numbers in detail.
The opposition is baying for the government’s blood over demonetisation and GST. The first is done and over with. But its effects are not yet over. The second has been modified to assuage large sections of the population.
The sudden spike in bank deposits and consequent decline in interest rates following demonetisation on November 8, 2016 led to surge in inflow into equity mutual funds, an analyst said.
Extending the verbal duel, he took a jibe at Arun Jaitley saying, "those who says I am seeking job at 80 must know I never presented budget sitting in the parliament."
The minister of state for coal and mines said that adequate time should be given to the central government to work and people should evaluate its performance after that.
The possibility of New Delhi accepting those notes is very low as the government has strongly opposed any fresh windows even for Indian citizens
Ninety percent respondents said demonetisation has helped fight corruption with "huge detection of black money" and 92 percent said a decision like this was necessary to fight graft and black money, they said citing figures.
Rahul Gandhi is a "manufacturer of tragedy". The Congress has become "incorrect news Congress" and the "biggest source of false news", the BJP chief said.