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Thursday , 27 April 2017
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Category Archives: Economy

IMF says India’s growth is remarkable in recent past years

According to the International Monetary Fund’s official, India’s growth has been remarkable in the recent past years which results in making a path for tax expansion struggles by the Indian government. He said that removal of fuel grants and the focusing on social benefits have conveyed by the government. Vitor Gasper, director of the IMF Fiscal Affairs Department told that ... Read More »

Petrol Bunks in Tamilnadu & Pondicherry will be shut on Sunday

The Tamilnadu and Pondicherry Petrol Bunk Owners Association took an important decision yesterday. They announced that from May 14th, all the petrol bunks in T.N & Pondicherry will be closed on Sundays. The request has been under review for a while since the workers wanted at least a day off which has now seen the light. Public may be inconvenienced ... Read More »

China’s GDP at 6.5%

The Chinese Government has set the target of their nation’s GDP this year to 6.5% China which is the second largest economy has been witnessing troubles in the international arena which is uncertain and not responsive of chinese products. The GDP Prediction is one of the least in the last 30 years which has seen a tremendous growth for China ... Read More »

Future of Jobs in India – A Peoples’ Perspective

With increased automation and emergence of Artificial Intelligence, coupled with pioneering developments in the field of genetics, robotics, nanotechnology, 3D printing, biotechnology, etc., the question arises whether machines will take over the jobs of humans. It’s already happening within certain sectors and experts say that it is a trend that would become even more evident in the future. As part ... Read More »

RBI Governor Urjit Patel Hits Out At Farm Loan Waiver

Urjit Patel

Reserve Bank of India (RBI) Governor Urjit Patel said that there is a need for national consensus on loan waiver schemes that these promises are not made during elections. He said that a consensus is required at national level so that loan waiver promises are eschewed. Otherwise, sub-sovereign fiscal challenges could eventually affect the national balance sheet. He claimed that with such schemes the ... Read More »

No leniency to banks over bad loans, says RBI Governor

Taking a tough stance over the issue of bad loans, RBI Governor Urjit Patel today said banks will have to deal with such loans themselves. He said that RBI will no longer show any leniency in such cases and banks would have to function strictly as per the regulatory norms related to managing bad loans. However, Patel promised that RBI ... Read More »

No plans to demonetize Rs 2,000 notes : Government

On Wednesday, Government said that there are no plans to demonetize the new Rs 2000 currency notes. Government is seizing fake currency. As far as rumors are concerned, such rumors should not be considered stated  Minister of State for Home Kiren Rijiju in the Rajya Sabha. The minister said fake currency has mostly been seized from Gujarat and West Bengal. ... Read More »

Kerala’s Big Cash Crunch: ATMs, Salaries and Pensions Hit

The ghost of demonetisation has come back to haunt and this time the most literate state of India, Kerala, is facing the wrath.  Since the start if the April month, most people in Kerala are not able to withdraw money from ATMs due to the cash crunch. The Kerala government said that the cash crisis hit the treasury and is ... Read More »

T.N. man deposits Rs.246 Crore, to pay 45% tax

  An unidentified individual from Tamil Nadu has deposited Rs.246 crores into his account. The money was deposited from Tiruchengode in Namakkal district in an Indian Overseas Bank branch and all the funds were of demonetised currency – Rs.500 and Rs.1,000 The man has agreed to pay 45% of it as tax under the amnesty scheme. The Govt of Tamilnadu ... Read More »

RBI talks to Centre to find bad loans recovery ways

RBI is regular on talks with Centre and other investors to look for means to recover its bad debt; the bank wants to strength the bad debt recovery mechanism said by Deputy Governor of RBI, SS Mundra. SS Mundra said that the controller has given many ways for bad loans recovery; however, some of these ways need to be reinforced. ... Read More »

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