Cement demand, which was negatively impacted following the demonetisation exercise, rebounded in March, the agency in a report.
Also, with the new IIP and WPI series, FY17 GDP growth is expected to be revised from 7.1 percent to 7.6 percent along with upward revision for past three quarters. The announcement of GDP will be on May 31
The Sena, a constituent of the NDA government, also asked if the common man and farmers, who were among the worst hit by demonetisation, were part of its third anniversary celebrations.
On the third anniversary of the BJP-led NDA government, Modi thanked the 1.25 crore people of the country for standing by him in every decision his government took.
Economic Affairs Secretary Shaktikanta Das has told a parliamentary panel that a decision in May 2016 to recall high value notes had the then RBI Governor's approval, reports The Economic Times.
Income tax department officials suspect NRIs are exchanging old notes that were hoarded by money operators and have sought some details about these depositors from the RBI.
Congratulating the NDA government for completion of three years, Raje while addressing a gathering in Jhalawar district today said that India has established its identity as a super power on a global platform.
Property consultant Knight Frank India and FICCI today released its real estate sentiment index, based on a quarterly survey of key supply-side stakeholders, which include developers, private equity funds, banks and non-banking financial companies (NBFCs),
Credit Suisse feels that the firm remains the most cost-efficient MFI, and there could be further opex gains from the technology adoption, a clear upside risk to its earnings estimate.
"Demonetisation was a successful political coup which was heavily applauded by a majority of the Indian people. The government showed it was serious about corruption," Sorman told PTI in an interview.
According to a report by Fitch, which looks into Indian ABS transactions rated by the agency: "Average collections, as a percentage of investor payouts, were higher in February 2017 than October 2016 and February 2016 by 350 basis points (bp) and 60 bp respectively, reflecting a return to normalcy for the pools and underlying borrowers".
According to the research firm GFMS, smuggled gold supply had fallen between November 2016 and mid-March 2017.
Speaking after inaugurating a workshop for beneficiaries of ‘Pradhan Mantri Mudra Yojana’ and Start Up initiatives at Sahyadri college at Adyar near here, the Minister of State for Finance and Corporate Affairs said demonetisation had helped improve the GDP of the country despite apprehensions to the contrary from certain quarters.
According to an official data released by Tourism Australia, the number of Indian tourist arrivals in Australia for December 2016 stood at 29,500 as compared to 26,100 in the similar period previous year.
It has been three years after the election victory and Finance Minister, Arun Jaitley and the tax department revealed crucial details on tax collections and suspected undisclosed income after the demonetisation. Watch accompanying videos for more details.
Live updates as Finance Minister Arun Jaitley addresses a press conference on Operation Black Money.
Since the start of the calendar year the rupee has gained nearly 6 percent against the dollar and 2 percent against emerging market currencies, largely on account of glad tidings on the economy and political fronts. Post demonetisation, it has gained from a strong showing by the BJP in the U.P. election and from parliament clearing hurdles for a GST launch. Crude oil prices continue to remain range-bound, with the OPEC nations curtailing oil production.
The World Silver Survey 2017, released by the Silver Institute and produced on its behalf by the GFMS Team at Thomson Reuters (GFMS), said that global silver mine production in 2016 recorded its first decline since 2002, dropping by 0. 6 per cent in 2016 to a total of 885.8 million ounces (Moz).
In an attempt to help banks, especially public sector banks (PSBs) recognise the ashes of high level of non-performing assets (NPAs) and rise like a phoenix, in December 2015, the Reserve Bank of India under the leadership of former Governor Raghuram Rajan, asked banks to set aside a pool of funds in the form of provisioning towards sub-standard assets. This further dented the banks’ balance sheets.
The Reserve Bank of India (RBI) was asked to provide a copy of the minutes of the meetings held in its office during which the decision to demonetise Rs 500 and Rs 1,000 notes was taken.
"Six months after demonetisation, corruption, black money and terrorism - three claims Modi made of having ended - flourish at an even stronger pace," the Communist Party of India (Marxist) leader said on social networks.
The temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative are expected to gradually dissipate in 2017 as cash shortages ease, the International Monetary Fund said in its regional economic outlook.
In November 2016, the government junked 500 and 1,000 rupee notes, which made up 86.4 per cent of the country's circulating currency.
A 1,000 page study on unaccounted incomes in India by the think-tank National Institute of Public Finance and Policy (NIPFA) suggests a few measures that the government can implement to eliminate black money.