-The Hindu Business Line Acreage, however, a tad lower than last five years’ average New Delhi: Despite demonetisation leading to a cash crunch in the economy, the sowing of Rabi crops in the season so far, at 415.53 lakh hectares, was 8.5 per cent greater than the 382.84 lakh hectares sown in the same period last year. While acreage under wheat, pulses and oilseeds increased compared to the same period last year, rice...
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CBDT urges jan dhan holders to reject misuse of accounts
-The Hindu After probe revealed a sudden surge in such deposits revealing various inconsistencies Account holders once again urged by Central Board of Direct Taxes not to consent to any kind of misuse of their accounts which would expose them to the dangers of being held responsible for the tax evasion by unscrupulous elements. Investigation being conducted by the Income Tax Department across India into the sudden surge in cash deposits in jan...
More »Why are Drought-Affected States not Lifting Sufficient Food Grain: Supreme Court
-IANS The Supreme Court on Thursday sought response from 13 drought-affected states as to why they were not lifting enough food grain to made available at subsidised rates to the priority and vulnerable sections of the people in affected areas. The bench of Justice Madan B. Lokur and Justice N.V. Ramana sought response from the 13 states as NGO Swaraj Abhiyan told the court that they were not lifting sufficient food grains...
More »Imposed only reasonable restrictions, govt. tells SC -Krishnadas Rajagopal
-The Hindu Affidavit in SC denies any lack of preparedness in implementing the demonetisation policy Curb on money transactions, including withdrawals and wedding expenses, are “only reasonable restrictions” imposed on the rights of the public for a LIMited time, the government said in its latest affidavit. “Cancellation of legal tender of Rs. 500 and Rs. 1,000 notes is only a reasonable restriction and regulatory in nature. Merely because there is a restriction on...
More »Demonetisation hits MSMEs hard, output plunges to 50% of capacity; labour unrest fears haunt sector -Abheri Raychaudhuri
-The Financial Express Ahmedabad: With production having slowed down to about 50% for most micro, small and medium enterprises (MSMEs) since the demonetisation of R500 and R1,000 notes by the Centre, a spectre of unrest is beginning to haunt labour-intensive sectors such as the textile and chemicals units in Gujarat. “There are two lakh registered MSME units in Gujarat, several of which form ancillary units for the textile industry such as for...
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