-Newsclick.in The PM’s claim that greater cash use is associated with less transparency and hence a larger black economy is baseless, as is his assertion that cash use in India has fallen. On the fourth anniversary of demonetisation (November 8), Prime Minister Narendra Modi has claimed that it succeeded in cuRBIng black money. He probably believes he can get away with making this claim because of the passage of time. But most...
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Explained: What is a technical recession? -Udit Misra
-The Indian Express Latest RBI bulletin projects contraction for a second consecutive quarter, which means the economy is in a ‘technical recession’. What does it mean, and how is it different from a ‘recession’ and a ‘recessionary phase’? In its latest monthly bulletin — for November — the Reserve Bank of India has dedicated a chapter on the “State of the economy”. The idea is to provide a monthly snapshot of some...
More »Recession: July-Sept GDP to contract 8.6%, estimates RBI
-The Indian Express The RBI, however, said the economy will break out of contraction of the six months gone by and return to positive growth in the October-December quarter of 2020-21. Mumbai: The Indian economy likely entered into a technical recession for the first time in history at the end of the first half of 2020-21, according to the Reserve Bank of India. After an unprecedented decline of 23.9 per cent in GDP...
More »Centre rolls out ₹1.19 lakh-crore stimulus package
-The Hindu Atma Nirbhar Bharat Abhiyan 3.0 includes scheme to incentivise new recruitment. Finance Minister Nirmala Sitharaman on Thursday announced a fresh set of relief and stimulus measures for the economy worth ₹1.19 lakh crore, including a scheme to boost re-employment chances of formal sector employees who lost their jobs amidst the COVID-19 pandemic. The measures, announced a day after the Reserve Bank of India (RBI) said the country had entered into a...
More »Four years since demonetisation: Cash in system steadily rising, at all-time high -George Mathew and Sandeep Singh
-The Indian Express After Rs 500 and Rs 1,000 notes were withdrawn from the system in November 2016, currency with the public, which stood at Rs 17.97 lakh crore on November 4, 2016, declined to Rs 7.8 lakh crore in January 2017 soon after demonetisation. Four years after the government announced demonetisation on November 8, 2016, the currency with public for the fortnight ended October 23, 2020 stood at a record high...
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