"On the effects of demonetisation on growth, I should say that I was the one economist who had argued (with my co-authors), from first principles, that demonetisation would increase, not diminish, growth," he said.
The Rs 2,000 banknotes were introduced along with new Rs 500 currency following the withdrawal of old Rs 500 and Rs 1,000 notes from 9 November, 2016.
The survey stated that agriculture and allied activities sector is likely to grow by 12.5 percent.
Armed with a new mandate as a champion of the poor, Modi still faces a struggle to implement reforms to boost growth and jobs in Asia's third-largest economy, say experts.
The prevailing situation in the sector offers a major opportunity for the postal department. It should quickly ramp up its infrastructure and set up a technology platform to take on the biggies
The clause would give enormous powers to the official machinery for harassment
The council also approved a maximum of 15 percent cess on top of the peak GST rate of 28 percent on luxury goods and aerated drinks.
Jaitley also said that the cess on sin (tobacco products) and luxury goods has been capped at 15 percent by the Council.
The US Fed hike is as per the expected lines, which raised its benchmark interest rate for the second time in three months and there is forecast of two additional hikes this year, experts said.
The dollar is expected to strengthen further in the course of the year, and hence while interest rate policy per se may be less affected by this development, currency stability will dominate the discussion tables at the RBI
Most of these pending reforms are likely to take a backseat if Rahul's suit-boot-ki-sarkar jibe continues to play at the back of Modi's mind
India has been slow to finalise rules on products high in fat, sugar and salt, whose consumption health advocates say urgently needs to be checked to safeguard public health.
The Fed's widely anticipated rise of 25 basis points on Wednesday was also only its third since the global financial crisis
According to analysts, a Fed rate hike of 25 bps could set off capital outflows from emerging market economies like India with large external funding needs and macro-economic imbalances, thereby increasing their vulnerability.
According to a report formulated by Crisil chief economist Dharmadikari Joshi and his team, "The main reason for the faster growth in manufacturing GDP is that growth in the value of inputs used for production has been slower than the value of the final output."
The process of verification of returned notes for counterfeit notes and accounting reconciliation is still on
The decision to lift the target overnight interest rate by 25 basis points to a range of 0.75 percent to 1.00 percent marked a convincing step in the Fed's effort to return monetary policy to a more normal footing.
The hike in the DA/DR is as per the agreed methodology of taking average of Consumer Price Index-Industrial Workers for the past 12 months.
The trade deficit widened as well to USD 8.89 billion as imports expanded.
The Q3 initial GDP estimates have come in favour of its policy stance, but when the final figures will come later and the widely expected impact on the informal sector, which constitutes 40-45 percent to GDP, gets reflected in the numbers, it is quite possible that we will see a drastically different growth picture.
In order to promote digital payment mode, state governments have been requested to ensure that all individual bank accounts are seeded with Aadhaar and mobile numbers
India is one of the fastest-growing economies in the world and Indian CEOs are looking to their CIOs to deliver on the promise of digitisation
Ahead of the recently concluded assembly elections in Uttar Pradesh, the BJP had promised to bring in a loan waiver scheme for farmers in the state, if its voted to power.
Research paper prepared by the staff at the RBI’s monetary policy department tells us that the demonetisation move by Prime Minister Narendra Modi has not done any major damage to the economy so far
After the amendment in the Act, formal sector workers would be eligible for up to Rs20 lakh tax-free gratuity.
By 2040, India is projected to have the maximum share of working-age population.
CPI inflation is much lower than the last year's level of 5.3 percent.
The much-anticipated turnaround on the economic front has opened up a barrage of foreign capital fund flows into India.
China has already run a freight train connecting Europe and attempts are being made to run a demonstrative run from Dhaka to Istanbul connecting Howrah, Delhi, Lahore and Tehran.