-The Times of India NEW DELHI: Inequality in India may be at its highest level since 1922, when the country's income tax law was conceived, with 22% income accruing to the top 1% income earners, a new paper released by economists Thomas Piketty and Lucas Chancel showed. "The top 1% of earners captured less than 21% of total income in the late 1930s, before dropping to 6% in early 1980s and rising...
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Printing presses to RBI: Pay us Rs 577 cr for note-ban loss -Ritu Sarin
-The Indian Express The Rs 577-crore bill is largely on account of huge consignments of imported/indigenous currency note paper used for Rs 1,000 and Rs 500 denominations as well as consignments which had been previously ordered or were in the process of being shipped to India. New Delhi: The government’s currency paper printing presses have asked the Reserve Bank of India (RBI) for compensation or reimbursement to the tune of Rs 577...
More »This year's floods worst in a decade -Subodh Varma
-The Times of India NEW DELHI: As the monsoon prepares to recede, India faces a mammoth recovery task from the worst floods in a decade. Over 3.4 crore people across 280 districts have been affected by floods that left more than 1,000 dead. Very preliminary estimates indicate that over 3 lakh hectares of crops, mainly paddy, have been destroyed. Over 8 lakh homes, mostly kachcha units have been damaged or destroyed. An...
More »No information on how much black money removed by note ban, says RBI
-PTI NEW DELHI: The RBI has told a parliamentary panel that it has "no information" on how much black money has been extinguished as a result of demonetisation of Rs 500/1,000 notes or about unaccounted cash legitimised through exchange of currency post note ban. Stating that an estimated Rs 15.28 lakh crore in junked notes has come back "subject to future corrections based on verification process", the Reserve Bank also said it...
More »Shameful that garbage hill can kill: Tribunal
-PTI New Delhi: The National Green Tribunal today came down heavily on the AAP government and the East Delhi Municipal Corporation (EDMC) over the Ghazipur landfill collapse in which two persons were killed, saying "nothing can be more humiliating than people being killed under garbage hill". The green panel issued notices to them while directing them to show cause why punitive action should not be taken against the Delhi government and criminal...
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