-Hindustan Times While demonetisation was subsequently described as a policy boost to promoting digital payments, the original policy had very different stated targets. November 8, 2021 marks five years of demonetisation in India. On this day in 2016, in a televised address at 8 pm, Prime Minister Narendra Modi declared that currency notes of ₹500 and ₹1000 -- these two denominations were 86% of the currency in circulation at the time in...
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5 reasons why cash is back in the economy after 5 years of demonetisation -Anand Adhikari
-BusinessToday.in Two years prior to demonetisation, the currency, as well as the nominal growth in the economy, was in the range of 10-12 per cent. But in the last two years, currency in circulation has grown by 14-16 per cent whereas the nominal GDP growth has been lower. Five years after demonetisation, the cash in the system is back at a much higher level. The government had demonetised the high-value notes of...
More »The long road to timely MGNREGA payments -Rajendran Narayanan and Anuradha De
-The Hindu There remain delays in the stage where the Central government transfers wages to the workers’ accounts There is a famous parable of the 13th-century mystic Mullah Nasruddin. He was once spotted under a street light searching frantically for a key that he had lost. A passer-by noticed the frazzled Nasruddin and stopped to help him. After both of them spent a long time searching for the key, the exasperated passer-by...
More »Five Years Since Demonetisation, Value Of Cash In Circulation Up 64% -Animesh Singh
-NDTV.com (with inputs from Agencies) The value and volume of bank notes in circulation had increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21 Though the government had launched its sudden move of demonetisation to cull out black money by weeding out currency notes worth 500 and 1,000 rupees denomination out of the system, on November 8, 2016, the notes in circulation in value terms have increased by 64...
More »Five years later, it’s even more clear that demonetisation was a disaster for India -Arun Kumar
-Scroll.in The move brought about a policy-induced crisis for the country and did little to stop the flow of black money. The demonetisation of high-denomination currency notes on November 8, 2016, created a nightmare for citizens that lasted several months. Long queues formed outside the banks and ATMs to obtain swap denotified currency notes for new ones so that life could continue. This situation persisted even beyond December 30, 2016, the last...
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