-The Hindu Business Line Indian digital Economy set to reach $ one trillion in another 5-7 years: Ravi Shankar Prasad Kolkata: Around 1.5 lakh gram panchayats will be connected via optical fibre under the national optical fibre network programme of the Centre by mid-2018, the Union Minister for Electronics & IT and Law & Justice, Ravi Shankar Prasad, said today. Of the targeted 2.5 lakh gram panchayats are to be connected under this...
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Only 7% rise in transactions through cards post demonetisation
-PTI NEW DELHI: Transactions through debit and credit cards rose by merely seven per cent post demonetisation, as against a surge of over 23 per cent in overall digital transactions, top government officials told a parliamentary panel. Officials from various ministries gave a presentation to the Parliamentary Standing Committee on Finance on 'Demonetisation and Transformation towards Digital Economy'. The digital transactions in all modes increased by 23 per cent to 27.5 million in...
More »Under Operation Clean Money II, 6.6 lakh more persons on I-T radar -Surabhi
-The Hindu Business Line Uses SFT to identify people who made high cash deposits during demonetisation period New Delhi: In hot pursuit of black-money hoarders who may have made high-value cash deposits during the demonetisation window, the Income Tax Department has identified an additional 6.6 lakh people in the second phase of Operation Clean Money. The Central Board of Direct Taxes (CBDT) has harvested information from the Statement of Financial Transactions (SFT) to...
More »Farmers need remunerative prices, not debt waiver, to end rural distress -TK Arun
-The Economic Times Farmers are agitated. Loan waivers have not stemmed protests or farmer suicides. This is a multidimensional problem and also a huge political opportunity for parties that can think constructively. Waiving loans is bad policy. It adds to the fiscal stress of states, straining under the electricity utility debt they have taken over. The states would undo the Centre’s hard-wrought fiscal discipline, scaring rating agencies. Waived loans bring little benefit to...
More »1.5 Million Jobs Lost During First Four Months of 2017, Says CMIE
-TheWire.in While this is likely a side-effect of demonetisation, more research is needed to unpack how India’s unemployment rate fell in January-April 2017. New Delhi: The Modi government’s demonetisation decision may have resulted in the loss of roughly 1.5 million jobs, according to new survey data put out by the Centre for Monitoring Indian Economy (CMIE). CMIE’s data is based on the result of consecutive waves of household surveys performed from January 2016...
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