Demonetisation anniversary: A political thriller turns 8
The much-hyped demonetisation has failed to break real estate’s love for black money, per a recent survey. Black money continues to be dominant in real estate.
Economy
Bibek Debroy, economist & chairman of PM’s economic advisory council, dies at 69
He had worked in Presidency College, Kolkata; Gokhale Institute of Politics and Economics, Pune; Indian Institute of Foreign Trade, Delhi; and also as the Director of a Ministry of Finance/UNDP project on legal reforms.
India’s forex reserves jump $12.588 billion to hit record high of $704.885 billion
India’s forex reserves jumped by $12.588 billion to a new all-time high of $704.885 billion for the week ended September 27, the Reserve Bank said on oCtober 4.
The overall kitty had swelled by $2.838 billion to $692.296 billion in the previous reporting week.
The $12.588-billion surge would be one of the highest weekly rises ever, and this is the first time the reserves have crossed the $700-billion mark.
Are we looking at a rate cut in December?
Even though this is partly due to base effect, what is more interesting to note here is that the inflation has averaged at 3.65 per cent for the first two months of the second quarter. The RBI has forecast an average 4.4 per cent inflation in the second quarter.
India has capability to become trusted partner in diversified semiconductor supply chain: PM
Prime Minister Modi stated this while chairing the Semiconductor Executives’ Roundtable at his residence – 7, Lok Kalyan Marg. During the meeting, he said that their ideas will not only shape their business but also India’s future, a statement issued by the Prime Minister’s Office said.
How deep is India’s unemployment problem?
The Economic Survey 2023-24 suggested that India had to create 78.5 lakh jobs in the non-farm sector by 2030 to cater to the rising workforce
Total deposits under Jan Dhan bank accounts grow to Rs 2,31,236 crore
Till now, more than 53.14 crore beneficiaries banked under PMJDY since inception, the data showed.
PMJDY accounts grow 3.6 -fold from 15.67 crore in March 2015 to 53.14 crore as on 14-08-2024
Around 55.6% Jan-Dhan account holders are women and around 66.6% Jan Dhan accounts in rural and semi-urban areas, per the data.
CPI inflation falls to a 5-year low in July: Don’t uncork the bubbly yet
Locally, food prices remain tricky. Hence, the central bank will continue on a wait and watch mode till end of this year before it gets convicing signals on a sustainable easing in inflation numbers.
