-MoneyControl.com In post-DeMo Q4 2016-Q3 2021, sales of approximately 10.37 lakh units outstripped new launches that were at approximately 9.04 lakh units Cash transactions in the housing market have reduced by at least 75-80 percent since demonetisation five years ago. Buyers no longer buy homes to get rid of black money - they now buy them because they want to own homes. But the component is still finding its way into property...
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After 5 years of demonetisation, black money is very much around -Dinesh Unnikrishnan
-MoneyControl.com The Narendra Modi government expected demonetisation to extinguish at least Rs 3-4 lakh crore of black money. However, RBI data show that 99% of the money that was invalidated came into the banking system. Meanwhile fresh seizures of black money continue. On November 8, 2016, Prime Minister Narendra Modi appeared on national television and said that all Rs 500 and Rs 1,000 notes would become invalid at midnight. The announcement at...
More »Has India’s Informal Economy Really Shrunk? The Actual Story Is Different -Biswajit Dhar
-TheQuint.com A recent SBI report, which states that the informal economy has declined, avoids even defining ‘informal economy’. A recent edition of “Ecowrap”, a publication of the research team of the State Bank of India (SBI), has claimed that India’s informal economy has sharply declined from 52.4 per cent in 2017-18 to between 15 and 20 per cent in 2020-21 in the three years since 2017-18. This finding by the SBI research...
More »India’s productivity challenge is especially steep in service sectors -Vidya Mahambare and Sowmya Dhanaraj
-Livemint.com Value-addition per worker needs to rise sharply in several fields for the country to enhance prosperity and reduce inequality It is known that productivity is the key to economic prosperity. How do we raise the productivity of service workers? This is one of the biggest challenges that India faces which hasn’t yet received much attention. Why is this important? First, low and medium-productivity service sectors (services except Real Estate, business and professional...
More »Economic lessons for India from the Evergrande crisis in China -Vivek Kaul
-Livemint.com Real Estate must contribute more to our economy and that calls for sectoral reforms and cheap homes Over the past few weeks, the financial and economic world has been worried about the likely collapse of Evergrande, the world’s most-indebted Real Estate company. At the same time, the bigger issue of China’s dependence for growth on its real-estate sector remains. In a working paper titled, Peak China Housing, Kenneth S. Rogoff and Yuanchen...
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