355

The Controversy around the Fuel Price Rise in India

New Delhi: The rise in petrol and diesel prices has been making news for the last week or so. Change in fuel price has impacted the daily budget to macroeconomics like inflation numbers of the nation. 

On this, Oil Minister Dharmendra Pradhan, last week ruled out any government intervention to disrupt the daily revision in petrol and diesel prices saying the reform will continue.

Pradhan maintained that the criticism of the government for the spike is unfair and also the present spurt is a temporary phenomenon. In fact after introduction of daily changes in petrol and diesel prices, there was a period when the prices fell continuously for a fortnight or so and nobody at that time complained.

330

Minister Says Digital Economy To Offer 5-7 Mn Job Opportunities

New Delhi: Electronics and IT Minister Ravi Shankar Prasad has  said that  India’s burgeoning digital economy is expected to provide job opportunities to about 50-70 lakh youth in the country by 2020.
Prasad said it is important to have affordable and inclusive technology to ensure growth and prosperity for the masses.

Speaking at the Digital Haryana Summit in Gurugram, he said the country’s digital economy is growing fast and by 2020 it is expected to provide job opportunities to about 50 to 70 lakh youth.

281

Morgan Stanley Says Rise In Inflation Likely To Keep RBI Rates On Hold

New Delhi: Leading global financial services firm Morgan Stanley has viewed that the Reserve Bank is likely to hold the key rate in the monetary policy review next month following a rise in inflation and is expected to focus more on resolving the problem of bad loans in the banking system.

“There was an uptick in headline inflation in August driven by implementation of the House Rent Allowance (7th Pay Commission) hike and accordingly the RBI is expected to keep rates on hold”, according to its report.

251

‘Made In India’ Phones To Touch The 50 Crore Mark By 2019-20

New Delhi: The number of 'Made in India' phones is poised to touch the 50 crore mark by 2019-20, according to an official.

"In 2014, we produced 6 crore mobile phones. In 2016-17, we produced 17.5 crore mobile phones and we are well on path to producing 50 crore mobile phones by 2019-20," IT Ministry Additional Secretary Ajay Kumar said at an event here.

He added that the value addition in these indigenously made phones has also grown significantly over the years.

227

Survey Says 70% People Want Scrapped Rs 1000 Note Back

New Delhi:A survey has revealed that nearly 70 per cent of the population wants the Rs 1,000 banknotes back. 

Last November, government scrapped Rs 500 and Rs 1,000 notes, which accounted over 86 per cent of the total Rs 16.24 trillion value of banknotes in circulation as of March 2016.
The Reserve Bank had said last week that as much as 99 per cent of the scrapped notes have come back to the system.