Moody’s Investors Service has downgraded its outlook on India to ‘negative’ from ‘stable’. The agency, however, has retained India’s credit rating at Baa2. Moody’s India rating is a notch higher than that of Standard & Poor’s and the outlook revision now may well be to compensate for its past optimism on India. Reason for changing … Continued
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Three years since demonetisation, the level of cash with the public has grown faster than the GDP growth of the country, even as digital payments — especially those on the Unified Payments Interface (UPI) platform — have seen robust growth. Reserve Bank of India data show that the public held Rs. 20.49 lakh crore in … Continued
Food Safety and Standards Authority of India (FSSAI) has notified a draft regulation aimed at prohibiting the sale and advertisement of food rich in fat, sugar and salt to schoolchildren inside the school premises and within 50 m around it. What do the draft regulations say? In a bid to shield the children from consuming … Continued
The Union Cabinet has approved the creation of an Alternative Investment Fund (AIF) of Rs. 25,000 crores to provide last-mile funding for stalled affordable and middle-income housing projects across the country, Finance Minister Nirmala Sitharaman announced. Which projects will be eligible? The Minister had announced the proposal to create this fund in mid-September, which the … Continued
Pulled out of RCEP India eventually decided to play it safe by pulling out at the last minute from the Regional Comprehensive Economic Partnership (RCEP) which was finalised by 15 countries in Bangkok. Why did India withdraw? The pressure mounted on the government and the Prime Minister by interest groups, ranging from farmers, small industries … Continued
Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enroll in National Pension Scheme (NPS) at par with Non-Resident Indians. The Government vide notification on Foreign Exchange Management (Non-debt Instruments) Rules, 2019 of Dept. of Economic Affairs, has specified that an OCI may subscribe to the National Pension … Continued
On October 24, in a strongly-worded order, the Supreme Court of India upheld the Department of Telecom (DoT)’s interpretation of “adjusted gross revenue” (AGR), which came as a huge blow to telecom service providers. Following the order, the telcos are now staring at dues of an estimated ₹1.4 lakh crore, which needs to be paid … Continued
Ever since the results of the Periodic Labour Force Survey (PLFS) 2017-18 became public — they showed that unemployment in India was at a 45-year high — there has been vigorous public debate about the true state of unemployment in the country. What has fueled this debate — and allowed different people to arrive at … Continued
The Union Cabinet today approved the proposal for revival of BSNL and MTNL by administrative allotment of spectrum for 4G services, debt restructuring by raising of bonds with sovereign guarantee, reducing employee costs, monetisation of assets and in-principle approval of merger of BSNL & MTNL. The following was approved by the cabinet: Administrative allotment of … Continued
Since February, the Reserve Bank of India (RBI) has aggressively cut the repo rate. This is the interest rate that the RBI charges the banks when it lends them money. By cutting the repo rate, the RBI has been sending a signal to the rest of the banking system that the lending rates in the … Continued