-Outlook Hit hard by demonetisation, India lost the tag of the fastest growing economy to China in the March quarter with a GDP growth of 6.1 per cent, pulling down the 2016-17 expansion to a three-year low of 7.1 per cent. The bad news of the economy growing at the slowest pace in three years mainly on account of poor performance of manufacturing and service sectors come at a time when the...
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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 »PSUs told to pay for govt's 3rd anniversary events -Dipak K Dash
-The Times of India NEW DELHI: The Centre has asked PSUs and government entities to pick up the tab for functions to mark three years of the Modi government across 543 districts where events called "Sabka Saath, Sabka Vikas Sammelan" are being held from May 27 to June 18. According to an official communication to 45 such entities, the objectives of these programmes have been set out as informing the public about...
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 »Government to step up mergers in PSU banks: Arun Jaitley
-The Times of India NEW DELHI: The Centre will pursue more mergers in the state-run banking space as the aim is to have a handful of strong and bigger banks of international level, finance minister Arun Jaitley has said. "Today banking is not what it used to be 10-20 years ago... Is it necessary to have 30-32 public sector banks, some of them weak? Obviously not. What will you do with...
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