-Firstpost.com “What you think is very clear, is not very clear,” told union finance minister Arun Jaitley to a reporter at a Delhi presser on Thursday called to take stock of Modi government’s 3-year performance. The reporter was asking about the impact of demonetisation on the GDP citing the sharp decline (6.1 percent) in the Jan-Mar quarter. Jaitley played down the impact of demonetisation saying it wasn’t the primary reason for...
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Note ban effect: GDP growth enters slow lane in Q4 at 6.1% -Ishan Bakshi & Indivjal Dhasmana
-Business Standard GVA growth at 2-year low of 5.6%; Farming only bright spot India’s economic growth fell to 6.1 per cent in the fourth quarter (Q4) of 2016-17 (FY17), primarily because of demonetisation adversely affecting economic activity. This was at least a four-quarter low. The sectors worst affected were construction and financial services. Without indirect taxes, growth figures would be more dismal. Gross value added (GVA), the difference between gross domestic product...
More »Why India's growing religiosity is an economic challenge -Pramit Bhattacharya
-Livemint.com Growing religiosity may boost the tourism sector but may hurt the overall economy Over the past decade, the proportion of religious people has either declined or stagnated in most countries. India seems to have been an exception, according to data from the World Values Survey (WVS), the largest global repository of data on attitudes and beliefs of individuals across the world. More than 90% of Indian respondents said religion was either ‘very...
More »Drought-led migration is making girls prey to trafficking in Andhra Pradesh's Kadiri, pushing town towards HIV/AIDS -TS Sudhir
-Firstpost.com Dr Mano Ranjan has been working at the Institute of Infectious Diseases situated on the Anantapur-Kadiri Road in Andhra Pradesh since 2009. This is the premier institute for the entire Rayalaseema region (southern Andhra Pradesh) for those suffering from HIV/AIDS. Dr Ranjan gets 25 new HIV/AIDS patients every day. "It is a ticking time bomb," he says. Thirty percent of the cases are from hamlets in and around Kadiri, unarguably the...
More »Auditor Extraordinaire: The Curious Case of NPA Underreporting in India -Hemindra Hazari
-TheWire.in At Axis Bank and Yes Bank, it appears that a single auditor of a member firm of Ernst and Young has overlooked gross NPAs of a staggering Rs 13,655 crore. Recently, Axis Bank and Yes Bank jolted the Indian banking community while releasing their annual results. Both banks disclosed a staggeringly large divergence between the banks’ audited accounts and the Reserve Bank of India’s (RBI) findings regarding bad loans on the...
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