-The Business Standard This has meant the GNI per capita has more than doubled from $1,229 in 1990 In recent years, India's growth has undoubtedly been spectacular. Income growth a year has averaged about five per cent from 1990 through 2012. This has meant the gross national income (GNI) per capita (purchasing power parity, in dollar terms) has more than doubled from $1,229 in 1990. However, even if one discounts the drop in...
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Developing countries experiencing unprecedented growth, says UN report
-The United Nations The rapid growth of developing countries is propelling millions out of poverty on an unprecedented scale and radically reshaping the global system, according to a flagship United Nations report launched today. “The rise of the South is unprecedented in its speed and scale,” says the Human Development Report 2013, which uses the term “South” to mean developing countries and “North” to mean developed nations. “Never in history have the...
More »Cobrapost's Shocking Mega Expose: Major Indian Private Sector Banks, HDFC Bank, ICICI Bank and Axis Bank, Are Blatantly Running A Huge Nation-wide Money Laundering Racket
-CobraPost.com Cobrapost's Shocking Mega Expose: Major Indian Private Sector Banks, HDFC Bank, ICICI Bank and Axis Bank, Are Blatantly Running A Huge Nation-wide Money Laundering Racket New Delhi: A Cobrapost pan-India undercover investigation spanning several months, unearths a vast, nation-wide money laundering racket being run by HDFC Bank, ICICI Bank and Axis Bank. The brazen criminal activity by these banks is channelizing vast amounts of black money into the regular banking...
More »The taxman is watching, says FinMin-Remya Nair
-Live Mint Govt reiterates it will crack down hard on tax evaders, defends steps introduced in Finance Bill to check evasion The government on Tuesday reiterated its intention to crack down hard on tax evaders and defended some of the stringent provisions introduced in the Finance Bill last week to check evasion, including granting wider powers of arrest to taxmen and making certain offences non-bailable. Finance minister P. Chidambaram, in his budget speech...
More »A walk on the wild side
-The Economist Government borrowing generates inflation, widens the external deficit and crowds out much-needed investment. Can India now overcome its debt addiction? INDIA has grappled with its public finances for long enough. When presenting its first budget after independence in 1947, the finance minister of the day insisted that the country was not living beyond its means. Yet every budget since has failed to produce a surplus. India borrows more heavily...
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