ECONOMY

General

Slowdown 'man-made crisis': Manmohan Singh hits out at Modi govt
STATE OF THE ECONOMY
01.09.19 - Team PT

Former Prime Minister Manmohan Singh on Sunday, in a statement in a video, said the state of the economy today was "deeply worrying”.

He said the "all-round mismanagement” by the Modi government "resulted in this slow down”, adding that last quarter’s GDP growth rate ...
  


Say good bye to $5-trillion economy: Subramanian Swamy
GDP DOWNFALL
31.08.19 - Team PT

Bharatiya Janata Party leader Subramanian Swamy on Saturday said that the country may not reach its target of being a $5-trillion economy if "no new economic policy is forthcoming”. Swamy’s comments followed the news of India’s Gross Domestic Product growth falling to 5% ...
  


10 public sector banks to be merged into four
30.08.19 - Team PT

Finance Minister Nirmala Sitharaman today announced a big consolidation of public sector banks: 10 public sector banks to be merged into four. Under the scheme of amalgamation, Indian Bank will be merged with Allahabad Bank; PNB, OBC and United Bank to be merged (PNB will ...
  


PM Modi asks NHAI to stop constructing highways
DEBT BALLOONED ALMOST SEVEN-FOLD
30.08.19 -

India’s path to economic recovery faces another obstacle, with Prime Minister Narendra Modi asking the state road builder to stop constructing highways after its debt ballooned almost seven-fold over the past five years.

"National Highways Authority of India totally logjammed with an unplanned and excessive expansion ...
  


Parle Products may cut up to 10,000 jobs as slowdown bites
EVEN RS 5 BISCUITS PACKS AREN'T SELLING
21.08.19 - Team PT

Parle Products Pvt Ltd, a leading Indian biscuit-maker, might lay off up to 10,000 workers as slowing economic growth and falling demand in the rural areas could cause production cuts, a company executive said on Wednesday.

A sharp drop in Parle's biscuit sales means the company ...
  


Patience is finally wearing thin
THE WOBBLY ECONOMY
21.08.19 -

 
Patience is finally wearing thin. The resigned shrug with which Indian industry once responded to the flow of dismal high-frequency data from various sectors of the economy has started to give way to muffled expressions of disquiet over the Narendra Modi government’s fumbling efforts to ...
  


CBI books NDTV’s Prannoy Roy, Radhika Roy and others for alleged FDI norms violation
21.08.19 - Team PT

The CBI has booked NDTV promoters Prannoy Roy and his wife Radhika Roy, and others in connection with alleged violation of foreign direct investment (FDI) rules, officials said on Wednesday.
 
The agency has also booked the media outlet’s former CEO Vikramaditya Chandra under charges of criminal ...
  


Can Libra improve financial access?
CRYPTO REVOLUTION
08.07.19 - Anum Malkani

THROUGHOUT history, many new technologies launched with great hype have failed to live up to their potential. Blockchain and Bitcoin are examples of such ‘revolutionary’ technologies that are yet to cause any real disruption. Libra is likely to follow in their footsteps.

In 2008, a paper ...
  


Paswan accepts Amarinder’s suggestion for joint meeting with FM
RS. 31000 CRORE FOOD ACCOUNT LOAN ISSUE
27.06.19 - Team PT

New Delhi, June 27: Union Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan on Thursday acceded to the request of Punjab Chief Minister Captain Amarinder Singh to hold a joint meeting with the Union Finance Minister to resolve the Rs 31000 crore ...
  


Justice MMS Bedi (retd) to head Punjab VAT Tribunal; Gurtej Singh to be member
05.06.19 - Team PT

The Punjab Government had cleared the appointment of retired Punjab and Haryana High Court Justice MMS Bedi (retd) as the new Chairman of the Punjab Value Added Tax (VAT) Tribunal.

A decision to this effect was taken at the level of the Chief Minister following a ...
  


Punjab to allow Industry to choose between Net & SGST Net incentives on intra state sale
PUNJAB CABINET MEETING
05.03.19 - Team PT

The Punjab Cabinet on Wednesday approved an amendment to the GST incentives notified under the Industrial and Business Development Policy 2017, to enable industrial units to choose between Net GST incentives or incentivized SGST on intra state sale.

The cabinet, at its meeting chaired by Chief ...
  


Punjab to focus on breaking the monopolistic trends in the liquor trade
NEW EXCISE POLICY
02.03.19 - Team PT

Punjab government has come out with its Excise Policy for 2019-20, with focus on breaking the monopolistic trends in the liquor trade and allotment of liquor vends in small groups, in line with the approach adopted last year.

Under the new policy, approved by the state ...
  


Punjab to provide subsidy of Rs 25 per quintal to sugarcane farmers
01.03.19 - Team PT

Punjab Cabinet led by Chief Minister Captain Amarinder Singh on Saturday gave ex-post facto approval to disburse Rs. 25 per quintal directly in the accounts of sugarcane growers (farmers), out of a total State Agreed Price (SAP) of Rs. 310, with the remaining Rs. 285 ...
  


Chanda Kochhar, Venugopal Dhoot's Homes Searched by ED
ICICI BANK LOAN CASE
01.03.19 - Team PT

Enforcement Directorate searched the homes and offices of former ICICI Bank chief executive Chanda Kochhar and Videocon managing director Venugopal Dhoot today in a loan case.

According to a NDTV report, the Central Bureau of Investigation has already issued a look-out circular against Kochhar and has ...
  


Bakery in Bengaluru covers 'Karachi' on signboard following protests
WHAT'S IN A NAME
23.02.19 - Team PT

An outlet of the Karachi Bakery in Bengaluru covered up the word ‘Karachi’ on its signboard on Friday after a mob protested against the name.

According to Scroll, some people gathered at the Indiranagar outlet of the popular Karachi Bakery on Friday evening to demand that ...
  


Radhaswami ‘Baba’ threatened to kill me: Malvinder Singh
17.02.19 - Team PT

Former Fortis Healthcare promoter Malvinder Singh has filed a criminal complaint against his brother Shivinder Singh, spiritual head of the Radha Swami Satsang Gurinder Singh Dhillon and others alleging financial fraud and threats to kill him.

According to Business Today report, the curious case of the ...
  


Farm bodies slam Modi govt's 6th Budget, say it adds insult to injury
PM-Kisan Samman Nidhi too meagre, dishonours farmers' contribution
01.02.19 - PT BUREAU

Budget silent on the most pressing questions – Income, Prices, Indebtedness, Insurance, Drought

Farmers and farm activists from nine states across the country who gathered in Shikohpur village in Haryana to witness and respond to the Union Budget dismissed the government’s declaration of PM Kisan Samman ...
  


Surjit Bhalla resigns from PM’s Economic Advisory Council
10.12.18 - Team PT

Economist Surjit S. Bhalla has resigned from his position as the part-time Member of the Economic Advisory Council to the Prime Minister. Government sources said Prime Minister Narendra Modi has accepted Bhalla’s resignation which takes effect from December 1. 

 "I resigned as part-time member PMEAC on ...
  


Urjit Patel resigns as the RBI Governor
10.12.18 - Team PT

Reserve Bank of India Governor Urjit Patel has resigned. Patel said he was resigning on account of personal reasons. 

There has been speculation of his resignation after deputy governor Viral Acharya's speech last month that sought to defend the autonomy of the RBI and the subsequent ...
  


One Time Settlement policy for defaulter entrepreneurs of Punjab
03.12.18 - Team PT

The Captain Amarinder Singh led Punjab Cabinet on Monday approved a One Time Settlement (OTS) Policy to give entrepreneurs of promoted and loanee companies the last chance to settle their dues with PSIDC and PFC, with the condition that no such OTS opportunity would be ...
  



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