India no longer enjoys the advantage of demographic dividend as it’s saddled with crores of youngsters with low skills unsuited to the economy, claimed a human resources and education expert. Chairman of Manipal Global Education TV Mohandas Pai claimed India already has 10 crore people in the 21-35 age-group with bad skills, unsuited for the economy. “There is no demographic dividend,” he said.
Plan and Policy
Plan & Policy
Retail-focused non-banking financial companies (NBFCs) would require Rs 3.8-4 trillion of fresh debt capital in FY19 to grow at 20 per cent in the current financial year, says a report. Domestic NBFCs are facing twin challenges in the form of narrowing options and increased borrowing cost for adequate debt raising.
“Retail-focused NBFCs would require about Rs 3.8-4 trillion of fresh debt funding during FY19 to support their envisaged portfolio growth of about 20 per cent during the year,” according to a report by Icra.
Closer to first anniversary of GST, the government on Monday said the new indirect tax regime has added more jobs in formal sector and widened taxpayer base. It noted that partial inclusion of real estate in the new structure had brought builders and those dealing in steel and cements into tax-net.
But government does not seem to be satisfied with the current level of tax compliance and wants people to pay non-oil taxes honestly. Union minister Arun Jaitley has appealed people to pay taxes and equated it with patriotic duty of citizens.
The Reserve Bank of India’s (RBI) draft guidelines on loan system for delivery of bank credit will help improve liquidity planning by large borrowers and intra-day fund management by lenders, a SBI study said on Monday.
Earlier this month, RBI had came out with draft guidelines on loan system for delivery of bank credit to improve discipline among larger borrowers enjoying working capital facility from the banking system.
With Indians becoming more digitally active, the risk of frauds has increased with around one in four customers becoming victims to online financial deceit, says a report.
In a report, global financial information company, Experian says 24 per cent of Indians have directly experienced frauds while transacting online, and sectors like telco’s (57 per cent), banks (54 per cent) and retailers (46 per cent) are the worst victims.
Further, Indians are most comfortable sharing data with banks (50 per cent) and least with branded retailers (30 per cent).
While the gold market finds crypto-currencies as risky assets and a competition for gold, it hails the blockchain technology, which is used by crypto-assets, as the future of savings in the yellow metal.
A recently held investment summit by World Gold Council (WGC) found that the blockchain technology is considerably more interesting than the crypto-assets it supports. Investment in gold could be facilitated through digital tokens and the blockchain technology examples of which exist already, the summit found.
India will pitch for ‘responsible crude pricing at the upcoming conference organised by oil producers’ cartel Opec, Union minister Dharmendra Pradhan said on Monday.
On the rising oil prices in the country, the minister assured that the government would leave no stone unturned to keep these products within the reach of the common man.
Hitting back at naysayers, Union minister Arun Jaitley said on Monday 7.7 per cent growth in the March quarter has “firmly” established India as the fastest growing major economy and the future looks much brighter than the past.
Left with few options to tackle the crude price hike impact on the economy, the finance ministry may ask the political leadership to persuade the 21 BJP-ruled states to take the initiative for bringing petroleum products under GST.
Facing multiple probes for alleged lapses in corporate governance, ICICI Bank on Monday effected a shake-up in its top deck. Bank’s managing director and chief executive officer Chanda Kochhar, who faces serious charges of quid pro quo in her dealings with Videocon group, will go on leave till the completion of an independent enquiry announced last month.