Category: Economy

IIM Act gets government nod, IIMs to get full autonomy

The government has given final nod to implement the rules of IIM Act, 2017 to govern the Indian Institute of Management (IIMs).  After the notification which is expected to come by the end of this month, the premier business institutes will get unambiguous autonomy. The IIM Act, 2017 was approved by the cabinet and passed […]

Income Tax data released, some states clearly outshine the others

The recently released Income Tax data presents some very exciting facts before us. People from the states of Maharashtra and Delhi together pay 53 percent of country’s total income tax. The income tax data was released for the first time in the country’s history after the repeated calls by many economists.  The previous governments despite […]

From socialism and backroom deals to a rule-based capitalist economy, this is India’s journey under PM Modi

Ratan Tata, the ace industrialist and former chairman of the Tata Group has shown confidence in Prime Minister Modi, in an interview with columnist and author Suhel Seth. On being questioned about the Prime Minister, Tata said that Modi is capable of delivering the ‘New India’ that he has promised to the people of the […]

PM Modi targets Rs 12,000 crore saving in oil import bill from ethanol use

India is among the largest fossil fuel importers in the world. The petroleum imports make a significant impact on the import bills and foreign exchange outflow of the country. If the renewable energy and bio-fuel energy could replace substantial amount of fossil fuel then we can save large chunk of foreign exchanges. The bio-fuel, which […]

Jan Dhan 2.0: Govt sets fresh target to cover 12 crore unbanked population

The Modi government is planning to launch Jan Dhan 2.0 to address several issues of financial inclusion, including the opening of bank accounts for the 12 crore unbanked population in more than 48,000 villages that is yet to be covered under the flagship of financial inclusion scheme. Once all the eligible population is covered then […]

E-commerce companies Amazon, Flipkart and Paytm may face probe for offering heavy discounts

The discounting practices by e-commerce companies like Amazon, Flipkart, and Paytm may lead to a probe according to Competition Commission of India (CCI). Discounting by online retailer on their platforms is explicitly banned; CCI found that Flipkart and other online retailers were discounting on their platforms. In March 2016, the country allowed 100 percent FDI […]

Government’s historic move to ensure consumer protection

The government seeks to pass the Consumer Protection Bill, 2018 to replace the previous consumer protection act which was introduced in 1986. Minister for Consumer Affairs Ram Vilas Paswan asked the members of Lok Sabha to pass the bill without any delay and debate because it has revolutionary measures to help the consumers. The bill […]

‘Indian economy is an elephant which has started to run’, says IMF

International Monetary Fund has lauded the Indian economy in its annual assessment. The head of IMF’s team for India Ranil Salgado said that 2.6 trillion economy is an elephant which has started to run. The report kept the Indian GDP growth forecast at 7.3 for the current fiscal year and 7.5 percent for the upcoming. However, […]

Public sector banks NPAs declined by Rs 1, 28,229 crores in FY18

According to the former chief economic advisor, Arvind Subramanian the Non-performing Assets (NPAs) are the most critical economic problem faced by the country. In his twin balance sheet analysis, he made the government aware of the scale of the issue. The previous government also faced the same problem but it did not initiate any ways […]

Crack down on black money: India expects HSBC account data from Switzerland in 10 days, says Piyush Goyal

The Indian government expects to receive data from Swiss authorities on the money deposited by Indians in HSBC accounts.  “Serious efforts are on to check black money. Though there are no official estimates of such money stashed in foreign countries a tax demand of Rs 5,447 crore has been made in HSBC undisclosed income of Rs […]

Why are India’s engineering graduates so unemployable?

The state of education and skill development in the country is in a horrible state. The lakhs of engineer we produce from thousands of engineering college are good for nothing according to companies. In higher education we have a few institutions which appear in the top 100 or 200 in the global rankings. The higher […]

CM Yogi is right, subsidies are bad economics

“Hum Bijli sasti kar denge ji, hum paani sasti kar denge ji” (We’ll make electricity cheaper, we’ll make water cheaper) said a lanky man in an oversized shirt to a sea of audience that nodded mechanically to everything he said. A month later stormed to power, with an even bigger margin than last time. The […]
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