-The Hindu Jaitley blames ‘spurt in demand’; Congress recalls note ban Amidst reports of a cash crunch from different parts of the country, Union Finance Minister Arun Jaitley said the government was “tackling the issue quickly” to overcome a “temporary shortage” caused by a sudden spurt in demand. But with hash tags #cashcrunch and #ATM trending on Twitter all day, Opposition leaders launched a scathing attack on the government. Minister’s assurance Responding to the Currency...
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What demonetisation did to tax collections -Aarati Krishnan
-The Hindu It has sharply lifted tax buoyancy and ushered many new return filers into the income tax net The argument about whether demonetisation was good or bad for the economy refuses to die down even a year after the event. Former RBI Governor Raghuram Rajan took potshots at it in a recent speech. While one can endlessly debate, with very little data, on whether the ban on high-value Currency notes dealt a...
More »As Empty ATMs Reported, RBI Says Shortage Due To Logistical Reasons: 10 Points -Debjani Chatterjee
-NDTV (With inputs from agencies) As ATMs ran dry in several parts of the country, finance minister Arun Jaitley said the shortage is temporary and is being tackled quickly. New Delhi: In response to reports that ATMs in several states are running dry, Finance Minister Arun Jaitley today conceded a "temporary shortage in some areas" and said it was being "tackled quickly". The Reserve Bank of India said the shortage...
More »Gujarat braces for cash shortage as chests dry up -Rutam Vora
-The Hindu Business Line Ahmedabad: Ahead of the kharif sowing season, Gujarat is facing a cash shortage as banks have started receiving lesser cash than required from the RBI. This has resulted in the rationing of cash disbursements at several banks in parts of Gujarat, mainly in the north. Banking sources confirmed experiencing cash shortage at the Currency chest level from where the disbursement of cash takes place to the bank branches. There...
More »Diesel price hits all-time high, petrol prices highest in over 4 years -Sumant Banerji
-BusinessToday.in Prices of diesel hit an all-time high of Rs 64.40 per litre in Delhi, while petrol prices were at Rs 73.55, highest in over four years. The last time petrol prices were higher was in September 2013 when it was Rs 76.06 per litre in the city. In a bid to bring in transparency in pricing of fuels, the government had changed the fortnightly revision of prices to a daily routine...
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