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Income tax department to use analytics to look for discrepancies in bank accounts -Sachin Dave

-The Economic Times MUMBAI: For the first time, the income-tax department will use big data analytical tools to go through personal bank deposits to segregate black Money holders from genuine tax-payers, two people in the know have said. While the government has used big data analytical tools for corporate tax reporting in some cases in the past, this is the first time that it will use analytics on such a large scale...

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MGNREGA spending high, call for Rs 10,000 crore extra -Shalini Nair

-The Indian Express As part of the first supplementary grant of demands, the ministry had released an additional Rs 5,000 crore — a third of the Rs 15,000 crore the MoRD had demanded to meet increased expenditure in drought-affected states. The Ministry of Rural Development has sought Rs 10,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) as part of the second batch of supplementary demand of grants, set...

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For agri input providers, rising crop acreages is bittersweet news -R Sree Ram

-Livemint.com While the good news is that crop acreages are not hit, the bad news is that the cash crunch is impacting sales—if this lasts long, demand destruction can be severe The winter or rabi crop sowing has gathered pace after a setback. The past two readings from the ministry of agriculture show crop sowing growth of 4-8% from the year-ago levels. In the first week after demonetisation, sowing dropped 0.7%. Sowing has now...

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PM said don't return Jan Dhan cash, villagers say we have no choice -Priyangi Agarwal

-The Times of India BAREILLY: Two days after PM Modi urged Jan Dhan account holders at a rally in poll-bound UP's Moradabad city to hold on to the Money deposited into their accounts by people with illegal cash, villagers across districts that TOI spoke with said the PM's advice didn't factor in "ground realities". "The PM may have meant well, but the fact is not one Jan Dhan account holder who let...

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Harried bankers want to shut shop till there's enough cash -Saloni Shukla

-The Economic Times MUMBAI: Bank employees want branches to be closed until the Reserve Bank of India (RBI) supplies sufficient quantities of currency notes as irate customers increasingly harass staffers and indulge in arson and physical assault amid a cash shortage following demonetisation of high denomination notes last month. "RBI should take a view to stop banking operations for 15 days till adequate Money is available. Let RBI close the banks till...

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