-PTI New Delhi: The government said demonetisation of high-value Currency notes in November 2016 achieved the objectives “quite substantially” even as the Reserve Bank of India reported most of the demonetised Currency was back with the banks. The RBI annual report released on Wednesday said 99.3% of Rs 500 and Rs 1,000 junked notes came back to banks. “I think demonetisation has achieved its objective quite substantially,” economic affairs secretary Subhash Chandra...
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99.40% of demonetised notes returned: RBI
-The Hindu Business Line Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018 Mumbai: Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report. The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore....
More »Pronab Sen, former Chief Statistician of India, interviewed by TCA Sharad Raghavan
-The Hindu The former Chief Statistician on calculating GDP back series, on indicators of development, and the fall of the rupee The draft of the back series GDP data, which was made public by the government recently, is unlikely to change drastically even if other methods of calculation are used, says former Chief Statistician of India, Pronab Sen. The noted economist discusses GDP, employment and poverty data; the value of the rupee;...
More »Dip in Rupee Value Sees Rice Export Prices Drop
-TheWire.in A drop in rice export rates from the top exporter, India, due to the falling rupee also weighed on demand for the Vietnamese variety. Bengaluru: Rice export prices in India fell this week as the rupee weakened, with the drop in rates from the top exporter also weighing on demand for the Vietnamese variety. Rates for India’s 5% broken parboiled rice fell by $3 per tonne to $389-$393 per tonne this week. “Rupee...
More »The Indian economy's changing growth constraints -Niranjan Rajadhyaksha
-Livemint.com The job of policy strategists is always to identify the binding constraints to growth and then try to figure out which policies will help ease them Economists of a certain vintage will remember the old development models in which rapid economic growth was held back by three key constraints. The first was the savings constraint. A poor country such as India could not save enough of its annual national income to sustain...
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