-IANS It will take time for the economists to figure out whether the fall in the growth rate to 5.7 per cent is the result of the disruption caused by demonetisation and the Goods and Services Tax (GST), but most of the common people will see a connection between the two steps and a slowing down of the economy. For most of them, the GST seems right -- like the uniform civil...
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The Truth About Demonetisation -Prabhat Patnaik
-Newsclick.in After months of dilly-dallying the Reserve Bank of India has finally come out with the figure that nearly 99 percent of the currency notes demonetised in November 2016, came back to the banking system. After months of dilly-dallying the Reserve Bank of India has finally come out with the figure that nearly 99 percent of the currency notes demonetised in November 2016, came back to the banking system. The total value...
More »Demonetisation coin falls on Narendra Modi government's head, leaves behind a large bump -Sandipan Sharma
-Firstpost.com The Narendra Modi government seems to have inherited Amitabh Bachchan's famous coin from Sholay. For, whichever way it falls, the government claims it has won. Its latest spin on demonetisation is yet another example of the government's 'heads we win, tails we win' arrogance. But, economy is not cinema. So, don't believe for a moment that the government was expecting almost all of the demonetised currency to return to the Reserve...
More »As money flowed back in, how goalposts were shifted -Manoj CG & Ravish Tiwari
-The Indian Express A scrutiny of RBI’s earlier provisional disclosures and the government’s structured public remarks reveal a pattern: aware that much of the money would return, the government and the political establishment kept shifting the goalposts. New Delhi: “Tab (previous UPA) aawaz uthti thi ki kitna gaya, ab aawaz uth rahi hai ki kitna laye. Isse bada jeevan ka santosh kya ho sakta hai…Yahi toh sahi kadam hai…Woh zamana tha tab...
More »RBI says 98.96% of Rs 500, Rs 1000 notes returned after demonetisation -Gopika Gopakumar
-Livemint.com RBI annual report estimates value of Rs 500 and Rs 1000 notes returned was Rs 15.28 trillion against Rs 15.44 trillion in circulation before demonetisation Mumbai: According to Reserve Bank of India’s (RBI) annual report released Wednesday, 98.96% of Rs 500 and Rs 1000 notes (by value) that were invalidated due to the demonetisation exercise had been returned by the end of June. The numbers put to rest one of the big...
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