-The Telegraph "The government has miserably failed to stimulate the domestic economy. It has spent less and less on public education, healthcare and infrastructure because of its erroneous policy" The Modi government has an ambitious plan to create a $5-trillion economy in the next five years — but all data points are heavily stacked against it. The economy is floundering and the Reserve Bank of India has already trimmed its growth forecast...
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Public sector banks merger: Modi govt to announce big bang plan soon -Arup Roychoudhury & Somesh Jha
-Business Standard Finance ministry has called a meeting with chief executives of ten public sector banks, on Friday The National Democratic Alliance (NDA) government has readied its mega plan for merging multiple set of public sector banks (PSB) and is set to make an announcement anytime soon, according to multiple sources. The department of financial services in the finance ministry has called a meeting with chief executives of ten public sector banks, which...
More »RBI says lack of domestic demand affecting 'animal spirits' of economy
-The Hindu Reviving the consumption demand and private investment has assumed the highest priority in 2019-20, notes central bank report. Mumbai: The Reserve Bank of India (RBI), in its annual report for 2018-19, has said the lack of domestic demand is holding back the animal spirits in the economy and emphasised the need to revive consumption demand and private investment during 2019-20. “What ails the animal spirits? At the core is the...
More »Less cash economy fails? Currency in circulation zooms 17% in FY19
-PTI Currency in circulation jumped a hefty 17% to Rs 21.10 lakh crore as of March 2019, the Reserve Bank of India said in its annual report for 2019. Mumbai: Despite many an effort to shift to digital payments and usher in a ‘less cash’ economy post-demonetisation, the currency in circulation has jumped by a hefty 17% to Rs 21.10 lakh crore as of March 2019, the Reserve Bank says in its...
More »Pear, apple harvest rotting in Kashmir, say Panchayat members from Valley
-PTI Their pear and apple harvest rotting, ration and cash running out — people in several parts of Kashmir are facing financial hardships due to the ongoing shutdown in major parts of the Valley, say three panchayat members from the region. Hailing from Anantnag district of south Kashmir, Talib Hussain, along with fellow panchayat member Iqbal Ahmed and Mumtaz Ahmed Khan, said they were in the national capital to let the...
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