-PTI India’s index of industrial production contracted by 0.7 per cent in August, the second month in a row that it has remained in negative territory, following a slump in manufacturing, mining and capitals goods segments. Factory output as measured by movement in the IIP had slipped to an eight-month low of (-)2.49 (revised) in July on account of declining output in manufacturing and capital goods sectors. The IIP slump in August is...
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To clamp down on black money, govt set to ban cash transactions over Rs 3 lakh -Sidhartha & Surojit Gupta
-The Times of India NEW DELHI: The government is set to ban cash transactions over Rs 3 lakh as it seeks to clamp down on black money in the economy following recommendations from the Supreme Court-appointed Special Investigation Team. The government, however, is yet to decide on the SIT's other proposal to bar cash holdings over Rs 15 lakh due to opposition from trade and industry, sources told TOI. "There are concerns...
More »New entrants in India's middle class: Drivers, carpenters, pani puri vendors -Hemali Chhapia
-The Times of India MUMBAI: India's middle class has seen new entrants. Pani puri vendors, dosa sellers, carpenters, welders, launderers, drivers and cable TV technicians have all pulled themselves out of the clutches of poverty and leapt into a section of the middle class — the bedrock of the economy. A paper titled 'The Rise of the New Middle Class and the Role of Offshoring of Services', co-authored by the head of...
More »NGOs have to register with NITI Aayog for grants -Anuradha Raman & Puja Mehra
-The Hindu New Delhi: Stepping up its scrutiny of NGOs, especially their financial dealings, the Centre has made obtaining unique identification numbers and registering them on the NITI Aayog portal, including the details of the Aadhaar and PAN numbers of all their trustees and office- bearers, mandatory for them to apply for grants from any ministry. The decision was taken by the Aayog at its meeting on May 9, which Prime Minister...
More »When life gives you tomatoes -Rahi Gaikwad
-The Hindu With crops hit by drought and the TO-1057 seed, our reporter visits Narayangaon, among the country’s largest tomato growing regions, and finds farmers struggling to cope with the failed harvest but still faithful to the fruit Last week, the grey rain clouds over the Sahyadris seemed full of promise. A few light showers, and colour was slowly returning to parched leaves and the dry earth was beginning to yield again....
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