"Only 24 lakh people admit that they earn more than Rs 10 lakh a year, even though you see so many big cars, big houses in every city"
- Prime Minister Narendra Modi, during a televised address on December 31. He thanked the nation for its cooperation in the demonetisation drive and fight against corruption61.44 bn, or about Rs 4 lakh crore, was the worth of merger and acquisition (M&A) deals in India in 2016. According to a News CorpVCC Edge report, the deal value is not only at a five-year high, but is 159 per cent more than the $23.71 billion witnessed in 2015
Rs 570 crore gross earnings for Aamir Khan-starrer Dangal. The film in its second week is closing in on Salman Khan's Sultan, which grossed Rs 584.15 crore since its release last July. In the domestic box office Dangal earned Rs 410 crore and Rs 158.7 crore from international theatres, according to indiatoday.in
GST Delayed
The rollout of the goods and services tax (GST) is likely to be delayed by at least two months. The government will, however, be well within the mandatory deadline of September 2017 - when the central and state governments will lose powers to levy all indirect taxes other than GST. It may introduce the legislation in the first half of the Budget Session
"It is expected to significantly transform the domestic economy in terms of, efficiency gains, accountability and transparency? notwithstanding short-term disruptions of the economy and public hardship"
- Urjit Patel, RBI Governor, on demonetisation
Poll Dates to 5 States
Chief Election Commissioner Nasim Zaidi announced the 2017 poll schedule for five state assemblies - Uttar Pradesh will go to polls in seven phases between February 11 and March 8, Punjab and Goa elections will be held on February 4, polling in Uttarakhand will take place on February 15, and Manipur's two-phase elections will be held on March 4 and 8. The model code of conduct has already come into play, and counting for all states will be held on March 11
Internet for All
The Telecom Regulatory Authority of India released a comprehensive consultation paper on net neutrality, which seeks equal access to all Internet content. It has sought written comments and recommendations from all stakeholders by February 15
Cashless Boost
SBI has decided to do away with transaction charges on point-of-sale terminals for merchants with annual turnover of Rs 20 lakh, or less. Currently, SBI charges 0.25 per cent on transactions of less than Rs 1,000; 0.5 per cent for Rs 1,000-2,000; and 1 per cent for higher values