Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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-The Telegraph&lt;br /&gt;
&lt;br /&gt;
The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.&lt;br /&gt;
&lt;br /&gt;
A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.&lt;br /&gt;
&lt;br /&gt;
While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply.&lt;br /&gt;
&lt;br /&gt;
The big drag on GDP growth is expected to come from the cash crunch in retail trade and related businesses. Consumer durables, real estate, retailing, jewellery, and hotels and restaurants - the wide patch of discretionary spending - will wilt with a potential loss of pricing power.&lt;br /&gt;
&lt;br /&gt;
The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called &amp;quot;useless bits of paper&amp;quot; while delivering his shock announcement on the evening of November 8.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;We are staring at a massive downward spiral in the economy,&amp;quot; former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. &amp;quot;We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
&amp;quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&amp;quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.
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&amp;nbsp;
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Please &lt;a href=&quot;http://www.telegraphindia.com/1161118/jsp/frontpage/story_119903.jsp#.WC5zSfRnDIV&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp; &lt;br /&gt;
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The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.

A consensus has started to emerge that...&#039;,
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-The Telegraph&lt;br /&gt;
&lt;br /&gt;
The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.&lt;br /&gt;
&lt;br /&gt;
A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called &amp;quot;useless bits of paper&amp;quot; while delivering his shock announcement on the evening of November 8.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
&amp;quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&amp;quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.
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The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.

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-The Telegraph

The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.

A consensus has started to emerge that..."/>
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                <strong>Slumber fear grips economy</strong></h1>
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                <div align="justify">-The Telegraph<br /><br />The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.<br /><br />A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.<br /><br />While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply.<br /><br />The big drag on GDP growth is expected to come from the cash crunch in retail trade and related businesses. Consumer durables, real estate, retailing, jewellery, and hotels and restaurants - the wide patch of discretionary spending - will wilt with a potential loss of pricing power.<br /><br />The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called &quot;useless bits of paper&quot; while delivering his shock announcement on the evening of November 8.<br /><br />&quot;We are staring at a massive downward spiral in the economy,&quot; former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. &quot;We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy.&quot;<br /><br />&quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.</div><div align="justify">&nbsp;</div><div align="justify">Please <a href="http://www.telegraphindia.com/1161118/jsp/frontpage/story_119903.jsp#.WC5zSfRnDIV" title="http://www.telegraphindia.com/1161118/jsp/frontpage/story_119903.jsp#.WC5zSfRnDIV">click here</a> to read more.&nbsp; <br /></div>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f551b8e695c-trace').style.display = (document.getElementById('cakeErr67f551b8e695c-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f551b8e695c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f551b8e695c-code').style.display = (document.getElementById('cakeErr67f551b8e695c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f551b8e695c-context').style.display = (document.getElementById('cakeErr67f551b8e695c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f551b8e695c-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
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</span></span></code></pre><pre id="cakeErr67f551b8e695c-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
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-The Telegraph&lt;br /&gt;
&lt;br /&gt;
The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.&lt;br /&gt;
&lt;br /&gt;
A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.&lt;br /&gt;
&lt;br /&gt;
While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
&amp;quot;We are staring at a massive downward spiral in the economy,&amp;quot; former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. &amp;quot;We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
&amp;quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&amp;quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.
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The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.

A consensus has started to emerge that...&#039;,
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&lt;br /&gt;
The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
&amp;quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&amp;quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.
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The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.

A consensus has started to emerge that...&#039;
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-The Telegraph

The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.

A consensus has started to emerge that..."/>
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                <strong>Slumber fear grips economy</strong></h1>
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                <div align="justify">-The Telegraph<br /><br />The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.<br /><br />A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.<br /><br />While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply.<br /><br />The big drag on GDP growth is expected to come from the cash crunch in retail trade and related businesses. Consumer durables, real estate, retailing, jewellery, and hotels and restaurants - the wide patch of discretionary spending - will wilt with a potential loss of pricing power.<br /><br />The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called &quot;useless bits of paper&quot; while delivering his shock announcement on the evening of November 8.<br /><br />&quot;We are staring at a massive downward spiral in the economy,&quot; former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. &quot;We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy.&quot;<br /><br />&quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.</div><div align="justify">&nbsp;</div><div align="justify">Please <a href="http://www.telegraphindia.com/1161118/jsp/frontpage/story_119903.jsp#.WC5zSfRnDIV" title="http://www.telegraphindia.com/1161118/jsp/frontpage/story_119903.jsp#.WC5zSfRnDIV">click here</a> to read more.&nbsp; <br /></div>               </font>
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-The Telegraph&lt;br /&gt;
&lt;br /&gt;
The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.&lt;br /&gt;
&lt;br /&gt;
A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.&lt;br /&gt;
&lt;br /&gt;
While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called &amp;quot;useless bits of paper&amp;quot; while delivering his shock announcement on the evening of November 8.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;We are staring at a massive downward spiral in the economy,&amp;quot; former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. &amp;quot;We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
&amp;quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&amp;quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.
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The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.

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The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government&#039;s demonetisation drive on the economy, businesses and households - and the picture doesn&#039;t look too good.

A consensus has started to emerge that...&#039;
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-The Telegraph

The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.

A consensus has started to emerge that..."/>
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                <strong>Slumber fear grips economy</strong></h1>
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                <div align="justify">-The Telegraph<br /><br />The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.<br /><br />A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.<br /><br />While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply.<br /><br />The big drag on GDP growth is expected to come from the cash crunch in retail trade and related businesses. Consumer durables, real estate, retailing, jewellery, and hotels and restaurants - the wide patch of discretionary spending - will wilt with a potential loss of pricing power.<br /><br />The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called &quot;useless bits of paper&quot; while delivering his shock announcement on the evening of November 8.<br /><br />&quot;We are staring at a massive downward spiral in the economy,&quot; former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. &quot;We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy.&quot;<br /><br />&quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.</div><div align="justify">&nbsp;</div><div align="justify">Please <a href="http://www.telegraphindia.com/1161118/jsp/frontpage/story_119903.jsp#.WC5zSfRnDIV" title="http://www.telegraphindia.com/1161118/jsp/frontpage/story_119903.jsp#.WC5zSfRnDIV">click here</a> to read more.&nbsp; <br /></div>               </font>
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-The Telegraph<br />
<br />
The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.<br />
<br />
A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.<br />
<br />
While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply.<br />
<br />
The big drag on GDP growth is expected to come from the cash crunch in retail trade and related businesses. Consumer durables, real estate, retailing, jewellery, and hotels and restaurants - the wide patch of discretionary spending - will wilt with a potential loss of pricing power.<br />
<br />
The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called &quot;useless bits of paper&quot; while delivering his shock announcement on the evening of November 8.<br />
<br />
&quot;We are staring at a massive downward spiral in the economy,&quot; former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. &quot;We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy.&quot;<br />
<br />
&quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.
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-The Telegraph

The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.

A consensus has started to emerge that...',
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-The Telegraph<br />
<br />
The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.<br />
<br />
A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.<br />
<br />
While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply.<br />
<br />
The big drag on GDP growth is expected to come from the cash crunch in retail trade and related businesses. Consumer durables, real estate, retailing, jewellery, and hotels and restaurants - the wide patch of discretionary spending - will wilt with a potential loss of pricing power.<br />
<br />
The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called &quot;useless bits of paper&quot; while delivering his shock announcement on the evening of November 8.<br />
<br />
&quot;We are staring at a massive downward spiral in the economy,&quot; former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. &quot;We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy.&quot;<br />
<br />
&quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.
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&nbsp;
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-The Telegraph

The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.

A consensus has started to emerge that...'
$disp = '<div align="justify">-The Telegraph<br /><br />The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good.<br /><br />A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year.<br /><br />While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply.<br /><br />The big drag on GDP growth is expected to come from the cash crunch in retail trade and related businesses. Consumer durables, real estate, retailing, jewellery, and hotels and restaurants - the wide patch of discretionary spending - will wilt with a potential loss of pricing power.<br /><br />The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called &quot;useless bits of paper&quot; while delivering his shock announcement on the evening of November 8.<br /><br />&quot;We are staring at a massive downward spiral in the economy,&quot; former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. &quot;We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy.&quot;<br /><br />&quot;Against the current backdrop, we expect October-December quarter earnings to be impacted the most,&quot; brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.</div><div align="justify">&nbsp;</div><div align="justify">Please <a href="http://www.telegraphindia.com/1161118/jsp/frontpage/story_119903.jsp#.WC5zSfRnDIV" title="http://www.telegraphindia.com/1161118/jsp/frontpage/story_119903.jsp#.WC5zSfRnDIV">click here</a> to read more.&nbsp; <br /></div>'
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Slumber fear grips economy

-The Telegraph The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good. A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact is likely to be felt in the third and fourth quarters of this financial year. While the economists quibble over the scale of the macroeconomic impact, there is a growing sense that the cash-dependent sectors of the economy - accounting for around 30 per cent of the GDP - will feel the real heat as money supply contracts sharply. The big drag on GDP growth is expected to come from the cash crunch in retail trade and related businesses. Consumer durables, real estate, retailing, jewellery, and hotels and restaurants - the wide patch of discretionary spending - will wilt with a potential loss of pricing power. The informal economy, which some estimate at 45 per cent of the GDP, is expected to stutter over the next few weeks till the government starts to remonetise at least a substantial part of the Rs 14 trillion currency stack that became what Modi called "useless bits of paper" while delivering his shock announcement on the evening of November 8. "We are staring at a massive downward spiral in the economy," former banker Meera Sanyal said in a televised debate on the virtues of demonetisation. "We have a large and legitimate cash-driven economy that has been massively impacted by the move. And that can only hurt the economy." "Against the current backdrop, we expect October-December quarter earnings to be impacted the most," brokerage Motilal Oswal said in a report titled Demonetisation: Feedback from the Ground Zero. The brokerage said it was difficult to quantify the earnings impact because of the uncertainty surrounding the duration of liquidity recalibration.   Please click here to read more.