Aarohi Blog

Back Minister Arun Jaitley on Tuesday called demonetisation a "watershed crossroads ever". He cited information widely to put forth a defense for the declaration by Prime Minister Narendra Modi's declaration on November 8 a year ago to put 86 for each penny of money unavailable for general use. In a blog and at a question and answer session later at the Bharatiya Janata Party (BJP) central station here, Jaitley said the note boycott had accomplished its destinations of diminishing the trade segment out the economy, extending the assessment net, uncovering unaccounted riches and lessening obscurity of money. The FM likewise dismissed feedback of 'impose fear mongering' that took after demonetisation and the merchandise and enterprises charge. "A more effective framework to check avoidance is a reasonable and legitimate framework. It can't be a psychological warfare framework. A productive framework empowers us to check avoidance. It just empower...

Leader Narendra Modi on Wednesday bludgeoned the commentators of his administration's monetary arrangements and communicated sense of duty regarding doing further changes to alter the course of declining GDP (total national output) development. Modi looked at the "accomplishments" of the three years of the National Democratic Alliance (NDA) government drove by him against the "disappointments" of the past United Progressive Alliance (UPA) administration, contending this was not the first occasion when that the monetary development had tumbled to 5.7 for each penny in a quarter.The UPA administration's record was much more terrible,he included. He said the present government had influenced a worldview to move from approach loss of motion of the past government to strategy implementation.Modi guaranteed the organizations coming into the formal economy, that they would not be bothered and their old records would not be analyzed.He said demonetis...

Factory activity plunged last month and had its deepest contraction in more than nine years after Prime Minister Narendra Modi's new tax policy severely hurt output and demand, a survey showed on Tuesday. The Nikkei/IHS Markit Manufacturing Purchasing Managers' Index fell to 47.9 in July from June's 50.9, its first reading below the 50 mark that separates growth from contraction since December and its lowest reading since February 2009. A Reuters poll predicted a modest July dip to 50.8. But July brought the biggest month-on-month decline since November 2008, just after the collapse of Lehman Brothers triggered a financial crisis and brought on a global recession. "New orders and output decreased for the first time since the demonetisation-related downturn." An output sub-index fell to 46.3, its lowest since early 2009, from 51.7 in June, while contractions were reported across all major sub-indexes in the survey, including new orders, purch...

No steps have been taken for the introduction of Sharia-compliant mutual funds in India, the Reserve Bank of India (RBI) has said. Replying to an RTI application filed by a PTI correspondent, the central bank said the Government of India had sought its comments on the launch of Sharia-compliant mutual funds by State Bank of Indiain December 2014. The RBI submitted its reply the same month, The Islamic or Sharia-compliant financial system is based on the principles of not charging an interest on deposits, as it is prohibited under Islam. "The Reserve Bank of India has not taken any step for introduction of Sharia-compliant mutual funds in India," the reply said. The RBI was asked to provide details on the introduction of Sharia-compliant mutual funds in the country. The SBI had in 2014 announced the launch of the same.However, it was deferred to make it a better and more attractive fund in the future, according to an official communication. H A...

Rita Teotia today expressed hope that the current border standoff between India and China will not have any impact on the bilateral trade. She also dismissed concerns that the confrontation between the two neighbours on the Sikkim sector will affect the ongoing Regional Comprehensive Economic Partnership (RCEP) negotiations. "I would hesitate to classify it in such a way (that it would impact bilateral trade). Of course, this is not the remit of the department of commerce, but we would hope that the regular trade between the two countries would move ahead and move in a way that is positive for everybody," Teotia said on the sidelines of the 19th round of negotiations on the RCEP here. Indian and Chinese soldiers are locked in a face-off at the Doklam area, which is roughly 15 km southeast of the Nathu La Pass that separates India and China and about 30 km southwest of the river Dramana Chhu in Bhutan . Last month, the Indian Army stopped Chinese road construction a...