In its annual report for 2016-17 released on August 30 last year, the RBI said Rs 15.28 lakh crore, or 99 percent of the demonetised notes, had returned to the banking system.
Of the 58 companies in the list, 18 had deposited around Rs 10,000 crore, each contributing over Rs 100 crore. The remaining companies deposited over Rs 25 crores each, totaling more than Rs 1,000 crores.
The government has revised its 2018-19 fiscal deficit projections to 3.3 per cent of GDP and for current fiscal to 3.5 per cent of GDP, compared with original targets of 3 per cent and 3.2 per cent, respectively.
FM Arun Jaitley has presented the Union Budget for 2018-19 in Parliament. The Budget was perceived as favouring the rural populace but wasn't very well received by financial markets.
In Budget 2017, Finance Minister Arun Jaitley placed consumers before rigid fiscal discipline as he spelt out a carefully crafted plan to boost people’s spending power, create jobs and improve rural incomes
Finance minister Arun Jaitley will table the survey, often described as the government’s official report card, three days before the presentation of Budget 2018 on February 1
The price of bitcoin has increased more than 12-fold in the past four years and the combined market of crypto-assets is now valued at over USD 500 billion, as per a recent release issued by the World Economic Forum (WEF).
Vijay Sharma, founder and CEO of Indian digital payments giant Paytm, said India was an opportunity waiting to happen just a few years ago. Indeed, the country's economic growth was flagging below 5 percent just before Modi became prime minister.
According to a top bank executive, Kotak Mahindra Bank will witness 15-20 percent growth in the corporate banking and SME portfolio.
The low growth also coincided with another year of weak, albeit improving, new vehicle sales.
The largest trade union in India backed by the RSS, held a massive rally in Delhi on Friday against the “anti-labour policies of BJP-led government".
India, despite initial setbacks from demonetisation and Goods and Services Tax (GST), is estimated to have grown at 6.7 per cent in 2017, according to the 2018 Global Economics Prospect released by the World Bank here today.
Digital revolution will truly take place only when the infrastructure for mass public interaction areas like tolls, transit and retail are fully automated and digitized
The demand for a hike in the rate is being led by private sector banks, while some large public sector lenders are opposed to it because any upward revision in the rate would end up inflating their costs.
Now that the effects of demonetisation and the transition hiccups of the GST firmly behind, India's economic growth is likely to pick up in the new year but rising oil prices and a firming inflation may spoil the party.
Real estate developers and consultants expect housing sales to improve, although gradually, as prices have become stable after much-needed correction in last few years and interest rates on home loans have softened.
However, the overall jobs situation improved in sectors like manufacturing and IT as employment increased by 1.85 lakh during the January-March period across eight sectors at all India level.
Speaking at the techfest in IIT Mumbai, Goa CM Manohar Parrikar said that note-ban and GST were possible due to PM Modi's leadership.
While demonetisation helped drive digital adoption for financial tech firms in 2017, GST implementation helped spawn companies in the accounting software space.
The GST related issues are behind them and so are the issues related to demonetisation. One is seeing definite improvement in the overall business demand, said Harsh Mariwala, Chairman, Marico.
Addressing the issue of Triple Talaq, he appealed the opposition to help pass the Bill in the Parliament
Swamy even slammed Moody’s upgrade of India’s credit rating that came last month after a period of 13 years.
In a written reply to the Lok Sabha, Minister of State for Finance P Radhakrishnan said the rate of capital formation and savings, technology, infrastructure, resource allocation, policy framework and money supply are some of the key factors that impact the economy.
Completing the new reforms is a big task and India can do it but if the global markets sees more on the governance front then that will be a positive, said Maurice Obstfeld, Chief Economist, IMF.
The government on Tuesday said the Income Tax department has seized assets worth Rs 900 crore till March 2017 post demonetisation.