आर्थिक – Page 30 – Dialogue India (डायलॉग इंडिया): Latest And Breaking Hindi News Headlines, News In Hindi

Sep72019 by Dialogue IndiaNo Comments

Mandatory linking of repo-rate with interest-rate should be for NBFCs also

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Recently reserve Bank of India RBI has made it mandatory for banks to compulsorily link repo-rate with interest-rate, so that loan-takers rather than loan-providing banks may be beneficiary of repo-rate cut announced by RBI. But there is no clarification in regard to Non-Banking-Financial-Companies NBFCs which continue to charge earlier increased interest-rates despite repo-rate cut announced by RBI. Earlier also RBI in its recent circular announcing total waiver of foreclosure-charges on pre-payment of loans in respect of banks deliberately and traditionally avoided applying the much-awaited decision in respect of NBFCs. Vigilance-enquiry is needed at concerned RBI division regulating NBFCs why RBI patronises NBFCs in their wrong-doings and not applying public-interest regulatory me...

Aug302019 by Dialogue IndiaNo Comments

Biggest biscuit-manufacturer denies job-cut, but does not rule out because of irrational GST tariffs

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Biggest biscuit-manufacturing company of India denies media-reports about job-cut of 10000 persons, but does not rule out because of highly irrational GST tariffs affecting sale of its confectionary items where biscuits attract 18-percent GST while rusks are in 5-percent GST slab. Presently GST-tariffs are highly irrational, confusing and improper where similar items are in different GST-brackets like 5, 12 and 18 percent. GST on harmful sweets is just 5-percent while namkeens prepared and sold by local confectioners attract 12-percent. Best is to remove all confusion by putting sweets, namkeens, biscuits, rusks and all such food-items in a common GST-slab of 12-percent for single rate-structure for products made by confectioners. GST has become additional product where most local co...

Aug302019 by Dialogue IndiaNo Comments

Special attention to top three sectors contributing to Indian economy is necessary to boost Indian economy

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Retail-wholesale trade, agriculture and real-estate are the three top-most sectors contributing to Indian economy with respectively 23, 15.7 and 13.5 percent shares. Union Finance Ministry should concentrate to develop these sectors plugging loopholes of misuse of development. On-line sale has swallowed retail and wholesale trade creating large unemployment and loss of trade and taxes. Experiment should be made on banning on-line trade or imposing strict restrictions so that consumers may find it advantageous to go to markets rather than on-line purchases. Data on agriculture is heavily polluted where contribution by agriculture to Indian economy is based on false figures because of large-scale misuse of provision of totally tax-free agricultural-income by ultra-rich persons includin...

Aug302019 by Dialogue IndiaNo Comments

Government should bear complete transaction-charges on payment made through debit and credit cards for curbing currency circulation

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It refers to RBI report released on 29.08.2019 revealing that there has been a shocking 18-percent rise in currency-circulation from that at time of demonetization of cold currency-notes of rupees 500 and 1000 on 08.11.2016 thus killing the very purpose of demonetization. This is because stress was given on small digital payments where there are regular cases of frauds affecting ordinary lower and middle income people. Currency-circulation can only be curbed by targeting bigger transactions. Rather than spending so much like rupees 4811 crores on currency-printing in the year 2017-18, study should be made if government and banks can bear complete transaction-charges on use of credit and debit cards. Presently traders having low profit-margins charge two-percent extra from consumers on paym...

Aug302019 by Dialogue IndiaNo Comments

Abolition of foreclosure-charges on pre-payment of loans still incomplete even after ten years of RBI admitting its not approving policy of foreclosure charges

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Reserve Bank of India (RBI) has once again issued circular dated 02.08.2019 clarifying that banks shall not charge foreclosure charges or pre-payment penalties on any floating-rate term-loan sanctioned for purposes other than business to individual borrowers with or without co-obligant(s). Earlier about a decade back, RBI in an RTI response dated 03.09.2009 had clearly stated that RBI does not approve policy of charging penalty or foreclosure charges. In this period of ten years, RBI had waived concept of foreclosure-charges in a phased manner rather than totally like starting from such waiver only for home-loans. But even the latest circular dated 02.08.2019 has not completely met with RBI policy of not approving foreclosure-charges as revealed in ten-years old RTI response dated 03.09...

Aug302019 by Dialogue IndiaNo Comments

Much-more required to boost economy than announced by Union Finance Minister

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It refers to high-level press-conference held on 23.08.2019 by Union Finance Minister (FM) with all the secretary-level officers joining her to reply to questions by media-persons. FM announced many measures in a bid to remove fear-psychology developed amongst tax-payers by withdrawing criminal action for normal tax-related violations. But too much attention was given to auto-industry by reducing interest on car-loans, doubling depreciation to 30-percent and announcing large-scale purchase of new cars for government departments and ministries to replace old ones. Huge purchase of new cars by government will heavily burden public-exchequers leading to tax-burden or deficit-economy both of which will result in price-increase. Even if new cars are to be purchased for governments, rule shou...

Aug302019 by Dialogue IndiaNo Comments

अर्थव्यवस्था के संकट से उबरने की तैयारी

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भारत आर्थिक मंदी की मार से त्रस्त होता दिख रहा है, आर्थिक अंधेरा चहुं ओर परिव्याप्त हुआ है। अर्थव्यवस्था इस समय बहुत नाजुक दौर से गुजर रही है। बेरोजगारी बढ़ रही है, व्यापार ठप्प है, बाजार सूने हंै, बड़ी कम्पनियां अपने कर्मियों की छंटनी कर रही है, ऐसे कई आंकड़ें एशिया की तीसरी सबसे बड़ी अर्थव्यवस्था के चरमराने के संकेत दे रहे हैं। सरकारी आंकड़ों के अनुसार बेरोजगारी दर पिछले 45 सालों में सबसे नीचे के स्तर पर पहुंच चुकी है और ऑटोमोबाइल सेक्टर के साथ-साथ उत्पाद काफी समय से मंदी की ओर अग्रसर है। सरकार को अर्थव्यवस्था का संकट गहराने से पहले जल्द कदम उठाने होंगे और नाजूक होती स्थिति को देखते हुए यदि सरकार जागी है तो यह शुभ संकेत है। एक तरफ केन्द्र सरकार ने अर्थव्यवस्था में सुधार के लिये प्रोत्साहन या पैकेज की घोषणा की है, जो दूसरी ओर भारतीय रिर्जव बैंक के खजाने से भी केन्द्र सरकार को 1.76 लाख करोड़ रुप...

Aug102019 by Dialogue IndiaNo Comments

Benefit of base-point cut in interest-rates be compulsorily passed on to old loan-takers

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It refers to Reserve Bank of India RBI cutting a 35 basic-point cut in interest-rates to lower EMIs of loans. But in practice, such benefits are absorbed by loan-givers banks and Non-Banking-Financial-Companies NBFCs without passing on the benefit to old customers till they approach for lowering of interest-rates. In practice, very few customers approach for cut in interest-rates. Banks and NBFCs very reluctantly lower interest-rates even on being approached. Benefit of cut in basic-point of rates by RBI is used to lure new loan-takers by banks and NBFCs. System should be that banks and NBFCs may have to compulsorily pass on benefits of cut in basic-points of interest-rates to old loan-takers. Basic problem is that decision-takers at RBI react to public-needs only after decades. It took a...

Jul312019 by Dialogue IndiaNo Comments

RBI shields and patronises wrong-doings of NBFCs

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Reserve Bank of India RBI through an RTI response (copy enclosed) openly shielded wrong-doings of torturing money-lending business by Non-Banking-Finance-Companies NBFCs like an NBFC-agent rather than regulatory-authority when the central Bank provided an analytical detail on suggestions to regulate NBFCs especially in their money-recovering process from those trapped in their net through luring mobile-calls. Significantly these NBFCs dominate loan-takers through financing by public-money of public-sector banks which is also unduly justified by RBI which avoided giving data of complaints against NBFCs. RBI justified filing of court-cases by NBFCs for recovery in cities other than of loan-takers despite NBFC-office being also in the city of loan-taker simply to unduly harass loan-taker a...

Jul212019 by Dialogue IndiaNo Comments

Media-reports indicate that surcharge on Income Tax may hit investments

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It refers to media-reports indicating that estimated rupees 12000 crores proposed to be earned by imposing surcharge on tax-payers in higher slabs may adversely affect investment in India. India tuned up with most other countries in the world when Raja Challiah committee report was implemented by bringing highest Income-Tax slab down to 30-percent. Tax-system should be simple-most abolishing concepts of cess, surcharge and subsidies to the extent possible. In present system with persons having assessed income upto rupees five lakhs per annum totally exempted from Income Tax, a person having income say rupees 501000 will evidently try to evade rupees 1000 from income because otherwise he would be getting exemption only on income upto rupees 250000. Basic exemption-limit should be same fo...