BMC polls: 19% winners face criminal cases

 43 winners in the just concluded Brihanmumbai Municipal Corporation (BMC) elections are facing criminal cases, says a report. |BMC polls: 19% winners face criminal cases, says report As many as 43 winners in the just concluded Brihanmumbai Municipal Corporation (BMC) elections are facing criminal cases, says a report. This implies that nearly 19 per cent of the newly elected corporators have criminal charges against them, including for offences like attempt to murder and rape, as per an analysis of the affidavits of 225 winners out of the total 227 in BMC polls recently done by NGOs Association for Democratic Reforms (ADR) and Maharashtra Election Watch Maharashtra Election Watch's state-cordinator Sharad Kumar said,

Demonetisation: Premium properties, land worst affected Priyansh Jain

 A textile merchant from New Delhi, has an independent three-storeyed property in upmarket Pitampura locality. He has a large joint family and is now looking to sell his property and relocate to R Priyansh Jain, a textile merchant from New Delhi, has an independent three-storeyed property in upmarket Pitampura locality. He has a large joint family and is now looking to sell his property and relocate to a bigger house. However, over the last one year, he has seen a drastic fall in property rates. “What was selling for Rs 20 crores at one point of time in 2015, was in the range of Rs 8-10 crores, in 2016. The recent demonetisation has added to the problems of the property market it seems,” says Jain. The situation seems similar in other metro cities and tier-2 cities. Take for example the case of Mumbai’s upmarket Bandra region, where high-end properties have seen a correction of more than 10%. “Given that old currency notes are no longer valid, home buyers/investors using unaccounted wealth to carry out transactions in cash, are facing a tough time and developers accepting cash components are facing a higher liquidity crunch than those accepting all payments through cheque/ bank transfer,” says Anuj Puri, former head of JLL India.

Govt sees FY17 per capita income rising 10% to Rs 103,818 

"The per capita net national income during 2016-17 is estimated to be Rs 103,818 showing a rise of 10.2 percent as compared to Rs 94,178 during 2015-16 with the growth rate of 8.9 percent," as per data on Second Advance Estimates of National Income, 2016-17. |Govt sees FY17 per capita income rising 10% to Rs 103,818 India's per capita net national income is expected to rise 10.2 percent to Rs 103,818 in the current fiscal, government data showed today. The per capita national income during 2015-16 stood at Rs 94,178, an increase of 8.9 percent from the previous fiscal. "The per capita net national income during 2016-17 is estimated to be Rs 103,818 showing a rise of 10.2 percent as compared to Rs 94,178 during 2015-16 with the growth rate of 8.9 percent," as per data on Second Advance Estimates of National Income, 2016-17.

Tax officials to send 50,000 letters to PM for successful GST

 A decision in this regard was taken during a meeting of representatives of All India Association of Central Excise Gazetted Executive Officers and those from Indian Revenue Service (Customs and Central Excise) Tax officials to send 50,000 letters to PM for successful GST At least 50,000 letters will be sent by indirect tax officials to Prime Minister Narendra Modi seeking his intervention to ensure successful roll-out of Goods and Services Tax (GST). A decision in this regard was taken during a meeting of representatives of All India Association of Central Excise Gazetted Executive Officers and those from Indian Revenue Service (Customs and Central Excise). "We have decided that each employee working under Central Board of Excise and Customs (CBEC) will write a letter to the Prime Minister seeking his intervention for the successful GST. "Though there are about 85,000 indirect tax employees working at various levels across the country, at least 50,000 letters will be sent to the Prime Minister within next two days," said Anup Kumar Srivastava

Q3 growth negates negative speculations about note ban impact Economic Affairs 

Secretary Shaktikanta Das said the third quarter and the 7.1 percent growth projected for full fiscal are "definitely something noteworthy". | Q3 growth negates negative speculations about note ban impact Elated at the GDP numbers, Finance Ministry said the 7 percent growth in the third quarter has negated the negative projections and speculations about the impact of demonetisation on growth. Economic Affairs Secretary Shaktikanta Das said the third quarter and the 7.1 percent growth projected for full fiscal are "definitely something noteworthy". "We had said that most of the reports were anecdotal, not based on statistics. There were reports that manufacturing activities in many sectors were affected due to demonetisation but as we see from the numbers manufacturing growth at very 8.3 percent is very satisfying number and promising number," Das told reporters here.