Prime Minister Narendra Modi’s drive to take the economy into a ‘less cash’ mode through a multipronged strategy would not only check the menace of black money and corruption, but would also convert a large part of the informal economy into the organised sector, according to Assocham President Su…
Tag: Narendra Modi’s
Govt hopes to sign deals worth Rs. 1.5 lakh cr at Make in Odisha meet
The Odisha government, which is holding its maiden ‘Make in Odisha’ conclave, on back of Centre’s ‘Make in India’ initiative, is hopeful of bagging deals worth Rs. 1.5 lakh crore in the event that is to be held from November 30 to December 2. This is over and above the Rs. 1.4 lakh crore worth [&…
Assocham urges govt to ease cash limits for logistic fleet operators
As India Inc supports Prime Minister Narendra Modi’s battle against black money, the ASSOCHAM has urged the government to consider among other relief measures, increasing the cash withdrawal limits for logistic and transport fleet owners since they need hard cash for meeting expenses for crew mem…
Currency Switch Impact | How India’s internet commerce industry is coping currency recall
In the two weeks since the government announced its demonetisation initiative, India’s internet commerce industry has scrambled to adjust. Internet entrepreneurs have applauded the move, ostensibly for its long-term payoffs, although online marketplaces and logistics startups have been hit hard b…
Currency Switch Impact | Start-ups welcome demonetisation with open arms
The ongoing monetary chaos in the nation has confused the public beyond reasonability. The demonetisation has brought forth several debates questioning the same. While many have come forward in support of Prime Minister Narendra Modi’s decision, a few are against the ban of Rs 500 and Rs 10…
Currency Switch Impact| Rent-a-Worker start-up makes hay, in the demonetisation chaos
A Delhi-based startup is on a roll after it began renting workers by-the-hour as placeholders to busy professionals in India’s capital to stand in serpentine lines outside banks and ATM machines. Customers are queuing up to exchange old currency or withdraw cash after the government took 86 perc…
Currency Switch Impact | SME sector to benefit as banks will lend more
The government has managed to cut down the transportation time of cash from printing to the main distribution centres from 21 days to six and is using all modes of transport, including helicopters and Indian Air Force planes, to move the cash quickly. The government is hopeful that the situation …
Currency Ban Impact | Modi’s ‘masterstroke’ giving a ‘stroke’ to SMEs
Demonetisation has brought MSME sector to a virtual halt. Though the government has of late relaxed cash withdrawal norms, small units are still at the mercy of banks. SME sector is feeling the hardest impact of the decision and the shortage of cash has stressed the industry. As much as 86.4 per …
Currency Ban Impact | Trucking business down by 50%, start-up, $300 bn business suffers
The $300 billion logistics and trucking business is hit by the nation-wide cash crunch as the Narendra Modi’s demonetization drive – forcing transportation companies to get closer to truck aggregating and owning startups. According to estimates, the trucking business (largely dependent on cash) i…
Ease of doing business: Govt says World Bank ranking not considered 12 key reforms
India continues to rank low at 130th position in terms of ease of doing business, with the country seeing little or no improvement in dealing with construction permits, getting credit and other parameters. The list of countries in the Doing Business 2017 is topped by New Zealand while Singapore i…