Paytm's founder Vijay Shekhar Sharma was in the news recently for signing a deal to purchase a Rs. 82 crore worth property in Lutyens’ Delhi. He is credited with the growth of Paytm's mobile wallet services, which is currently being used by over 220 million users across the country. Although Paytm was launched in 2010, the popularity of its mobile wallet services and payment gateway among the ordinary citizens grew...
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GDP flop-show: Manmohan Singh has the last laugh in war of words with Narendra Modi over note ban -Dinesh Unnikrishnan
-Firstpost.com If one purely compare the January-March quarter GDP growth of fiscal year 2017 and fiscal year 2016, former Prime Minister Manmohan Singh’s prediction that demonetisation will shave off 2 percentage points of India’s GDP has come true. In the January-March quarter of FY16, GDP grew by 9 percent, which has come down to 6.1 percent in the corresponding quarter this year— a near 3 percentage point difference. Even the full...
More »Social impact of demonetisation may have been greater: World Bank
-The Hindu Greater data availability, especially on labour markets, needed to better gauge social impact of such policies The World Bank has said the social impact of demonetisation may have been greater as the informal economy was likely to have been hit especially hard. However, the Bank said the impact of demonetisation on the informal economy was difficult to measure and greater data availability, especially on labour markets, is needed to...
More »Exact number of trucks entering Delhi still unclear, over 10,000 FIRs against environment tax violators -Sowmiya Ashok
-The Indian Express In 2015, the Centre for Science and Environment (CSE) pointed out a mismatch between their survey and the civic body’s claims over the numbers of commercial vehicles entering the city. New Delhi: Over 10,000 FIRs have been filed at the borders of Delhi against violators of toll and environment tax, a toll operator told The Indian Express. “There is a rise in criminal activities at the borders and...
More »Demonetisation sucked in cash like vacuum cleaner: IMF
-PTI “Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.” Washington: India’s demonetisation led to huge cash shortages that have “adversely affected” consumption and like a “vacuum cleaner” it sucked in cash and then was slowly replacing the currency, a senior IMF official has said. “You’ve heard about so-called ‘helicopter drops’ of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as...
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