-The Indian Express It can also mean other things such as Currency shortage, transaction mode shift. The government has presented a lower cash-to-GDP ratio as a key achievement of demonetisation, and a measure of black money being checked. Economists, however, caution against reading this metric in isolation. Prime Minister Narendra Modi said last month that the cash-to-GDP ratio is down to 9% after demonetisation, from over 12% earlier. “Was it possible if a...
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Has euphoria in Uttar Pradesh over fighting black money turned into disappointment? -Gyan Varma
-Livemint.com Political analysts feel there is a sense of dissatisfaction in Uttar Pradesh on demonetisation, though the political dominance of the BJP continues Baghpat, Shamli and Sardhana (Uttar Pradesh): Ved Pal, a 35-year-old farmer from the village of Bodda in Baghpat district, thinks demonetisation was the right thing to do even if its immediate aftermath was painful. “Any new work undertaken by any individual or government will always face problems; so demonetisation...
More »Note ban anniversary: RBI says still verifying returned notes
-PTI NEW DELHI: Nearly a year after Prime Minister Narendra Modi announced demonetisation, the Rs 500 and Rs 1,000 bills returned to banks are still being "processed in all earnest" through a sophisticated Currency verification system, the RBI has said. In reply to an RTI query, the central bank said it has processed about 1,134 crore pieces of Rs 500 notes and 524.90 crore pieces of Rs 1,000 junked notes, having face...
More »The Ghost of Demonetisation Still Haunts Marathwada's Farmers -Parth MN
-TheWire.in The cashless future that demonetisation promised never came, and many in rural Marathwada scoff at the idea. Aurangabad: Ten months after Currency notes of Rs 500 and Rs 1,000 were scrapped on November 8 last year, the ghost of demonetisation continues to haunt Deepak Badavne. In early November, Badavne had harvested 31 quintals of cotton from his 2.5 acre farm. He expected good returns on it. “The trader arranged for the truck...
More »Govt readies booster dose to revive stuttering economy, may target MSME sector -Suchetana Ray
-Hindustan Times India’s economic growth slumped to 5.7% in April-June quarter, which experts attribute to demonetisation that sucked out 86% of the Currency in circulation from a largely cash-reliant economy. The government’s expected measures to revive a stuttering economy could mainly target the MSME sector and involve a re-look at public-private project norms to boost investment without breaching its fiscal deficit target for the year, officials involved in the process told HT. Besides,...
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