-Scroll.in Because the exercise was doomed to fail in its primary objective of rooting out black money, the government kept changing its aims. We have travelled a long way from November 8, 2016, when Prime Minister Narendra Modi told us that the black money held in Rs 500 and Rs 1,000 currency notes would become “worthless pieces of paper”. Now, we are told by the finance ministry that the government expected...
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It was the suddenness of demonetisation that added immensely to its costs, and nothing to its benefits -Shankar Raghuraman
-The Times of India blog Whatever its critics may say, there is one unambiguous achievement of the demonetisation drive. The Reserve Bank of India can surely now claim its rightful place in the Guinness or Limca books for the world record in time spent on a single count of currency notes. But what about the other benefits that the finance ministry claimed after RBI announced the results of this mahayajna of...
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...
More »Govt mulling 2% relief on GST for digital payments -Pankaj Doval
-The Times of India NEW DELHI: You may soon need to shell out less if you pay digitally. The government is looking at giving a 2% incentive over the applicable GST tax rate in case of digital payments where the bill is up to Rs 2,000, in a move aimed at discouraging cash payments. According to sources, the proposal - which may give the benefit in the form of a discount or...
More »Worried SC calls for robust data protection regime
-The Hindu Capacity of non-state actors to invade the home and privacy has also been enhanced, says nine-judge Bench The Supreme Court on Thursday urged the government to put in place a robust mechanism for data protection. Noting that “informational privacy is a facet of the right to privacy”, a nine-judge Bench, led by Chief Justice of India J.S. Khehar, said dangers to personal data originate not only from the government but also...
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