Thursday, September 19, 2019

The Economy, Unlike BJP, Cannot Be Bullied Into Submission

Diktats like abolishing currency overnight or sending tax inspectors inside entrepreneurs' homes has not stopped black money or tax avoidance but instead has had severe disastrous economic consequences. Government Steps For Housing, Exports To Support Economy: FICCI



Praveen Chakravarty


"The Indian National Congress re-states its conclusion that the "demonetization" experiment of November 2016 will rank as one of contemporary India's most ill-thought and reckless economic misadventures. The scars of this bizarre and destabilizing act on Indian society will linger for long." - Economic Resolution of the Congress party, March 2018

‘Govt will implement NRC countrywide’, says Amit Shah

Union Home Minister Amit Shah reiterated the need for the NRC to detect illegal aliens in the country. At ‘Purvoday Hindustan’, an event organised by HT media group’s Hindi daily Hindustan in Ranchi, Shah reiterated the need for the NRC to detect illegal aliens in the country. (HT Photo)
At ‘Purvoday Hindustan’, an event organised by HT media group’s Hindi daily Hindustan in Ranchi, Shah reiterated the need for the NRC to detect illegal aliens in the country. (HT Photo)



Union home minister Amit Shah on Wednesday said that the government will roll out an exercise for a countrywide National Register of Citizens (NRC).

Why are Resident Indians Remitting More Money Abroad Than Ever Before?

From $1 billion in 2012 to over $13 billion in 2018, higher remittances could indicate greater spending abroad as rich Indians look to diversify or the beginnings of a flight of capital. Why are Resident Indians Remitting More Money Abroad Than Ever Before?
Photo: Reuters



New Delhi:Modi euphoria has dissipated, foreign investors dump record $4.5 billion of Indian shares in 3 months

Global investors poured in $45 billion in last 6 years hoping Modi would unleash India’s economic potential. Their exodus now is the worst since 1999.
 Indians sent more money out of the country than ever before in July 2019 under the liberalised remittance scheme (LRS), in a development that comes even as the Narendra Modi government looks to attract foreign direct and portfolio investment.

Global investors falling out of love with Narendra Modi, sold $4.5 billion of Indian shares since June

After pouring $45 billion into India’s stock market over the past six years on hopes that Modi would unleash the country’s economic potential, international money managers are now unwinding those wagers at the fastest pace on record.Narendra Modi Narendra Modi Photographer: Kiyoshi Ota/Bloomberg



Global investors are starting to fall out of love with Narendra Modi.

After pouring $45 billion into India’s stock market over the past six years on hopes that Modi would unleash the country’s economic potential, international money managers are now unwinding those wagers at the fastest pace on record. They’ve sold $4.5 billion of Indian shares since June, on course for the biggest quarterly exodus since at least 1999.

Trump's decision to join Modi's Houston rally shouldn't blind us to how U.S.'s Af-Pak policy continues to undermine India's regional-security interests

US policy of hyphenating India with Pak helped bring terrorism to India..Pakistan-aided Islamists demographically transformed the Kashmir Valley in 1990 by expelling virtually all Hindus but not before kidnapping and murdering hundreds of them, including gouging out their victims’ eyes and gang-raping women. Prime Minister Narendra Modi and Afghanistan President Ashraf Ghani. Without putting boots on the ground, India must play a much bigger role in Afghanistan, including to safeguard the multibillion-dollar assistance it has provided that country, and to checkmate Pakistan
Prime Minister Narendra Modi and Afghanistan President Ashraf Ghani. Without putting boots on the ground, India must play a much bigger role in Afghanistan, including to safeguard the multibillion-dollar assistance it has provided that country, and to checkmate Pakistan(Vipin Kumar/HT PHOTO)




Brahma Chellaney

When United States (US) President Donald Trump joins Prime Minister Narendra Modi’s 50,000-strong public rally in Houston next week, it will showcase the strength of the US-India relationship. But the powerful symbolism should not blind us to the divergent US and Indian interests in India’s neighbourhood, especially the Afghanistan-Pakistan (Af-Pak) region. Indeed, before the rally, Trump will likely get the India trade deal that he has sought.

"Don't Want To Watch Rest Of Film": Kapil Sibal On PM's "Trailer" Comment

Congress MP Kapil Sibal tweeted he doesn't want to see what lies ahead for the economy under Prime Minister Narendra Modi when the current trends are indicating stress in key sectors 'Don't Want To Watch Rest Of Film': Kapil Sibal On PM's 'Trailer' Comment Congress MP Kapil Sibal took a dig at Prime Minister Narendra Modi over the state of the economy



NEW DELHI:Less than a week after the National Democratic Alliance government completed 100 days in its second term, Congress MP Kapil Sibal has weighed in with criticism of the centre over the economic slowdown that threatens to consume several key sectors, from manufacturing to finance.

Tuesday, September 10, 2019

100 days of Modi 2.0 reveal a darker truth about us: We are not in a grip of an illusion: This is who we want to be

How long will we put up with the politics of illusion? Or are these hundred days revealing a darker truth about ourselves?  We are not in a grip of an illusion: This is who we want to be. On this view, Modi’s popularity is not because he is peddling an illusion to us; it is because he is peddling the truth about ourselves.
Modi’s popularity is not because he is peddling an illusion to us; it is because he is peddling the truth about ourselves. (File)




Pratap Bhanu Mehta 


The first hundred days of Narendra Modi’s second term as prime minister raise a profound question that goes beyond a mere cataloguing of the government’s actions and policies: What is the nature of the regime we are spawning? As we look at the hundred days, two political phenomena stare us in the face.

Rs. 12.5 Lakh Crore of Investors' Wealth Gone In 100 Days Of Government

The Sensex has slumped 5.96 per cent or 2,357 points and the NSE Nifty 50 index has dropped 7.23 per cent or 858 points since May 30. Rs 12.5 Lakh Crore of Investors' Wealth Gone In 100 Days Of Government
Since the formation of government, foreign portfolio investors have sold shares worth Rs. 28,260.50 crore.





 



Investors' wealth worth Rs. 12.5 lakh crore has been wiped out in the first 100 days since the second term of Prime Minister Narendra Modi's government started on May 30. At yesterday's closing, the market capitalisation or market value of companies listed on BSE stood Rs. 1,41,15,316.39 crore as against market capitalisation of Rs. 1,53,62,936.40 crore a day before PM Modi's government came to power.

Friday, August 30, 2019

P Chidambaram's "Unprecedented Offer" To Stay In CBI Custody Till Monday

P Chidambaram, who has been in CBI custody since last week, has denied any wrongdoing in the INX Media case. P Chidambaram's 'Unprecedented Offer' To Stay In CBI Custody Till Monday
P Chidambaram has been accused of facilitating a huge infusion of foreign funds in INX Media.


NEW DELHI:In an unprecedented offer to the Supreme Court on Thursday, former Finance Minister P Chidambaram said he was willing to remain in custody of the Central Bureau of Investigation or CBI till Monday in the INX Media corruption case. Dramatically arrested from his home last week, Mr Chidambaram is in CBI custody till today and will be produced before a trial court when it expires.

Thursday, August 29, 2019

Bank Frauds Jump 74% To Rs. 71,543 Crore In 2018-19, Says RBI

Reserve Bank of India (RBI) in its annual report said that frauds related to loans constituted dominant share of the total amount involved in frauds. Bank Frauds Jump 74% To Rs 71,543 Crore In 2018-19, Says RBI Reserve Bank of India: Average lag between date of occurrence of frauds and its detection was 22 months.


Frauds in the banking system shot up by 74 per cent to Rs.71,543 crore in financial year 2018-19 compared with frauds worth Rs. 41,167 crore committed in the financial year 2017-18, the Reserve Bank of India said in its annual report on Thursday. The average lag between the date of occurrence of frauds and its detection by banks was 22 months, the Reserve Bank's report said.

Wednesday, August 28, 2019

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"Stealing From RBI Won't Work": Rahul Gandhi Attacks Centre Over Payout

RBI payout to government: "PM & FM are clueless about how to solve their self created economic disaster," Rahul Gandhi tweeted 'Stealing From RBI Won't Work': Rahul Gandhi Attacks Centre Over Payout Congress MP Rahul Gandhi hit out at the centre over the record payout from the RBI



NEW DELHI:Congress MP Rahul Gandhi today made lacerating comments against the government after the Reserve Bank of India approved a record Rs. 1.76 lakh crore payout to it, a move that he alleged was the same as "stealing from the RBI".

Congress Invokes Sacred Games On RBI's Big Rs 1.76 Lakh Crore Transfer




The Congress has attacked the Modi government over the RBI's approval for the transfer of a record Rs 1.76 lakh crore dividend and surplus reserves to the Centre which will assist India in stimulating the economy without widening the fiscal deficit - a topic of discussion that first arose late last year when the central bank's excess capital became a topic of discussion.

With RBI Move, Team Modi Furthers Bad Economics Credentials

"Governments that do not respect central bank independence will sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined an important regulatory institution." Image result for Narendra Modi




Don't say you weren't warned. Prime Minister Narendra Modi has made no secret of his desire to do things differently from every one of his predecessors, and at least when it comes to bad economics, he seems determined to fulfil that aim. The latest achievement is the appropriation of Rs. 1.7 lakh crores from the vaults of the Reserve Bank of India. 

RBI to transfer record surplus Rs 1.76 lakh crore to government ..

Pedestrians walk past the Reserve Bank of India (RBI) headquarters building. (Photographer: Dhiraj Singh/Bloomberg)
MUMBAI:

Facing a revenue shortfall and uncertainty over a planned sovereign bond issue, the government is set to receive a Rs 1.76 lakh crore bonanza from the Reserve Bank of India.

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