Ease of Doing Business Index India

Ease of Doing Business Index India

India ranks 130th out of 190 countries in the World Bank’s Doing Business report 2017. India ranked 131st in 2016 and 134th in 2015.

New Zealand has topped the ranking in 2017 followed by Singapore. (Note: Data in the World Bank’s Doing Business 2017 report are as of June 1, 2016)

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OPEC’s decision to cut oil production

Image credit : Foxoildrilling

Image credits : Foxoildrilling

The Organization of the Petroleum Exporting Countries(OPEC) has designed a deal to cut its oil production by 1.2 million barrels per day.  This has been done to increase the oil prices globally.

It has planned to re-balance the oil market by cutting back its production to 32.5 million barrels per day from 1 January 2017. Presently, the total oil production of OPEC’s member countries is about 33.7 million barrels of oil per day.

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Should India Make a Transition to the Cashless Economy?

 

cashless economy

Image credits: FeeGenie

The current policy decision to demonetise high-denomination notes will provide a big fillip to the cashless economy. In this context, the Finance Minister Arun Jaitley remarked that the demonetisation  scheme will “not merely nudge the economy in the direction of the cashless economy but [give it] a significant push in that direction.”

The scheme is expected to effect behavioural change by forcing people to adopt cashless means of payments. (Read more about demonetisation in this article: http://economyria.com/demonetisation-of-currency-explained/)

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Trans-Pacific Partnership without USA : What’s happening?

tpp-without-us

TPP( Trans-Pacific Partnership), a pact branded as the world’s most ambitious free-trade agreement is nearly coming to end. Involving 12 Pacific Rim countries, including America, Japan and Canada, the Trans-Pacific Partnership represented roughly 40% of global GDP, and one-third of world trade. (Read in detail about TPP in this article: The Trans-Pacific Partnership Deal (TPP): Demystified)

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Don’t be confused- Loan Write off is not a Waiver

loan write off

“Written off does not mean maafi…. It doesn’t mean that the loan ceases to be a loan. We will still chase the loan, the entry in the book changes from being a performing asset to a non-performing asset.”

-Finance Miniter, Shri Arun Jaitley

Write-offs are a very common tool to clean up bank balance sheets around the world. It does not mean Vijay Mallya or anyone else for that matter is off the hook. Earlier this year, China’s top four banks wrote off 130.3 billion yuan (equivalent to 19.5 billion dollars) of bad loans for the first half of the year. It was an increment of 44 percent from the previous year. Moreover, from fiscal 2011 to fiscal 2015, India’s banking industry also wrote off a cumulative Rs 1.76 trillion worth of loans.

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