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BUDGET NEWS :   High Minister Narendra Modi's flagship programme, the Pradhan Mantri Jan-Dhan Yojana (PMJDY), which completed three years in August ultimate yr and was credited with the aid of Finance Minister Arun Jaitley for unleashing the "JAM" -- Jan Dhan, Aadhaar, cellular -- revolution, is set to get hold of an extension in budget 2018, that's simply days away. The monetary inclusion scheme could also reportedly see the overdraft quantity sanctioned below it double because the government seems to use it to promote entrepreneurship by using presenting bank loans. A senior authorities official told monetary each day The economic times that in budget 2018, an announcement on PMJDY being extended is anticipated. The unnamed reputable brought that an boom in the overdraft quantity beneath the scheme can also be on the playing cards. pointing out that the government become seeking to "build upon" the scheme, the reliable informed the monetary day ...

The fear is that Modi is already beginning to lean more heavily on that first leg of his, Hindu nationalism, now that his economic strategy is losing some of its sheen LATEST NEWS :  The immense popularity of Narendra Modi , India’s most dynamic prime minister in decades, has always rested on two legs: Hindu nationalism and his tantalising promises to build on the country’s go-go economy. That second leg is now looking a little shaky. In the last two years, India’s consumer confidence has plummeted, construction has slowed, the fixed investment rate has fallen, many factories have shut down and unemployment has gone up. Fingers are pointing at Modi. Just about all economists agree that two of the prime minister’s biggest policy gambles — abruptly voiding most of the nation’s currency and then, less than a year later, imposing a sweeping new sales tax — have slowed India’s meteoric growth. “Things have been worsening, worsening, worsening,” said Himanshu, an ec...

According to the legal notice, Nissan said repeated requests to state officials for the payment, due in 2015, were overlooked LATEST NEWS :  Japanese automaker Nissan Motor has begun international arbitration against India to seek more than $770 million in a dispute over unpaid state incentives, according to a person familiar with the matter and documents reviewed by Reuters. In a legal notice sent to Prime Minister Narendra Modi last year, Nissan sought payment of incentives due from the Tamil Nadu government as part of a 2008 agreement to set up a car manufacturing plant in the southern state. According to the notice, Nissan said repeated requests to state officials for the payment, due in 2015, were overlooked and even a plea by the company's chairman, Carlos Ghosn, to Modi in March of last year seeking federal assistance did not yield any results. The notice, sent by Nissan's lawyers in July 2016, was followed by more than a dozen meetings between fed...

Modi said his government is committed to developing a development-centric eco system which is free of corruption LATEST NEWS :  Prime Minister Narendra Modi on Thursday said that he is ready to pay the political price for the steps taken by him for a better India and asserted he would not be deterred. Addressing a gathering here, he said his government is committed to developing a development-centric eco system which is free of corruption and is citizen centric. He also said that post demonetisation, the black money, which was part of a parallel economy, has now become part of the formal system. Inaugurating the Hindustan Times Leadership Summit here, Modi said data mining after the note ban is also helping government track down those involved in corruption. Appreciating the role of Aadhaar in delivering services to the people and also checking pilferages, he said the system would also work as a tool to track down benami properties. Also read this : N Ko...

The Reuters poll of 52 economists over past week showed GDP growth likely rose to 6.4% LATEST NEWS : Indian economic growth likely rebounded in the July-September quarter from the slowest growth in three years, with demand picking up modestly as the effects from a shock Note ban on high-value currency notes eased, a Reuters poll showed. If that's correct, the data will be the latest evidence of a broad-based global economic upturn across Asia and most of the world that has many major central banks poised to move away from ultra-easy monetary policy. India was the world's fastest-growing major economy in 2016. But already-slowing growth was made weaker by the surprise cash clampdown late in 2016 by Prime Minister Narendra Modi's government, which has hurt consumer spending ever since. In July, the government introduced a goods and services tax that made sweeping changes to the way businesses across Asia's third largest economy charge taxes, deliverin...

In recent weeks, most Opposition parties, but particularly the Congress, have chosen to focus their attack on the Modi government on its handling of the economy, lack of jobs and farm distress LATEST NEWS :  Former finance minister and Bharatiya Janata celebration (BJP) veteran Yashwant Sinha’s modern day criticism of the Narendra Modi government’s moves has given the Congress birthday celebration, which has struggled to build a marketing campaign around the present status quo’s disasters on the financial the front, a prime shot inside the arm. while Sinha responded the decision of his “national obligation” to talk up, BJP’s Rajya Sabha member Subramanian Swamy and Sangh Parivar fellow vacationer S Gurumurthy have also spoken earlier approximately the negative state of the economy. Congress chief and some other former finance minister P Chidambaram, who held a press briefing later inside the day to highlight the monetary slowdown the united states turned into deali...