Morning Brief: Modi To Review Jobs Growth; Blow To Congress; Bumper Gold Holdings

Good Morning, Swarajya Readers! Here's What You Need To Know Today.

Modi To Review Farm Sector And Jobs Growth: Agriculture and jobs will be the focus of Prime Minister Narendra Modi's discussions on Tuesday with top economists and experts from India and abroad. The theme of the NITI Aayog meeting is 'Economic policy: The road ahead'. In another development, a senior tax official said Modi has quietly plugged a tax loophole used by the wealthy to buy real estate in someone else's name as part of his campaign against corruption.

Yet Another Signal For Tax Cuts: Signalling yet another hint of a possible tax cut in the Union Budget, Finance Minister Arun Jaitley said that India needs a lower level of taxation to be globally compatible and broad base the economy. Extraordinary high taxation rates in the past have led to higher tax evasions, the Finance Minister added.

Chandrababu Naidu Says Demonetisation Problems Easing: Andhra Pradesh Chief Minister Chandrababu Naidu said problems caused by demonetisation are "easing out" and the move will eventually benefit the nation. This comes days after he said the decision was not as per "our wish" and that he had to "break his head" to find solutions.

Few Takers For Opposition Unity Call By Congress On Note Ban: The renewed bid by the Congress to forge opposition unity against demonetisation and allegations of corruption against Prime Minister Narendra Modi suffered a setback with key "secular" players planning to skip a meeting called by the party on Tuesday.

Resolve Internal Mahabharat, BJP Tells SP: The Bharatiya Janata Party (BJP) on Monday ridiculed Samajwadi Party (SP) for the ongoing feud in the ruling party asking it resolve the ‘Mahabharat’ and focus on law and order, corruption and lack of administration in the politically crucial state. Meanwhile, Bahujan Samaj Party chief Mayawati said an alliance between the SP and Congress would be struck only if it benefited the BJP.

Prabhu Promises More Wi-Fi Stations: Railway Minister Suresh Prabhu said 200 more stations would be provided with Wi-Fi facility in 2017. Speaking in Thiruvananthapuram, Prabhu assured the Kerala government that efforts would be made to install bio toilets in trains running in the state. He also promised the government that Thiruvananthapuram-New Delhi Rajdhani Express will run five days a week.

Rs 100 Crore Jan Dhan Shocker: A woman on Monday sought the intervention of the Prime Minister after she found nearly Rs 100 crore in her Jan-Dhan account in a Meerut branch of a state-run bank. The move comes after the bank officials did not attend to her complaint and kept asking her to come some other time.

Gold Prices Hit 11-Month Low: Gold prices slumped by Rs 250 to hit over 11-month low of Rs 27,550 per 10 gram at the bullion market on Monday. Traders said the persistent fall in demand from jewellers and retailers in view of the prevailing cash crunch triggered by the demonetisation of old high denomination notes have been the primary factor weighing on gold prices.

Bumper Gold Holdings: The gold holdings of the three largest gold loan companies in Kerala – Muthoot Finance, Manappuram Finance and Muthoot Fincorp – have grown to nearly 263 tonnes. They now have more precious metal than the gold reserves of some of the richest nations – Belgium, Singapore, Sweden or Australia.

Kerala Catholic Priest’s Plea To The Pope: A Catholic priest from Kerala who was abducted in Yemen in March, has appealed to the central government and Pope Francis to secure his release. “If I were a European priest, I would have been taken more seriously. I am from India. I am perhaps not considered as of much value,” Father Tom Uzhunnalil said in a video posted on the internet.

MUST READ OP-EDS

Impact Of Modi Government’s Campaign Against Cash On Informal Economy: The hope is that informal businesses will transform themselves from being the dirty underbelly of Indian capitalism into respectable, tax-paying, suited and booted members of a sleek, productive and bourgeois modern India.

No Disruption For Patriarchy: In a year of exhausting divisiveness, it is important to remember that there is something still worth celebrating – significant stepping stones towards the goal of gender equality.

What Awaits Us In 2017? In sum, in 2016, risks materialised but stock markets and investors chose to whistle past them. 2017 will be the year of waking up to the laws and loss of gravity.

SWARAJYA SPECIAL

Big Q: Why Should RBI Or Any Central Bank Have A Monopoly On Money? The 21st century will challenge the idea of the state and its monopoly powers, but Step One in that process is whether central banks should have a monopoly on money. The answer is no.

Just How Many Times Will Rahul Gandhi Come Of Age? The Congress vice-president should stop wasting his breath on Narendra Modi. His energy would be better expended in trying to build a base for his party in Uttar Pradesh.

Mamata Banerjee Is Scared, And It Has Started Showing: It is becoming increasingly clear that Banerjee’s high-pitched and often ugly diatribes against demonetisation and Modi are borne out of a deep fear of skeletons tumbling out of her cupboard.

We hope you enjoyed reading our morning brief. Have a great day ahead!

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