-PTI Besides Patel, Economic Affairs Secretary Sashikanta Das and Financial Services Secretary Anjuly Chib Duggal are also being asked to appear before the Committee. A Parliamentary panel has decided to summon Reserve Bank Governor Urjit Patel again to explain how much of the junked currency has been deposited in banks post note ban and the progress made in remonetisation. The meeting of the Standing Committees on Finance, headed by former cabinet minister M...
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Macroeconomic Impact of Demonetisation: A Preliminary Assessment -RBI
-eSocialSciences.org The analysis in this paper suggests that Demonetisation has impacted various sectors of the economy in varying degrees; however, in the affected sectors, the adverse impact was transient and felt mainly in November and December 2016. The impact moderated significantly in January 2017 and dissipated by and large by mid-February, reflecting the fast pace of remonetisation. The latest CSO estimates suggest that the impact of Demonetisation on GVA growth was...
More »Modi's Digital India dream souring? Value of digital transactions recedes -Abhishek Waghmare
-IndiaSpend This puts in peril the government's target to achieve 25 billion digital transactions in 2017-18 The value of digital transactions nationwide declined marginally (1.5%) to Rs 92.6 lakh crore ($1.4 trillion) in February 2017 from Rs 94 lakh crore in November 2016 ($1.42 trillion), according to representative data (provisional) on electronic payments released by the Reserve Bank of India (RBI). The data do not cover all transactions across all banks. But, card...
More »Debt, drought & death: Two suicides a day since October in Tamil Nadu -Arun Janardhanan
-The Indian Express Last week, the farmer distress reached Delhi, with a group of Tamil Nadu farmers starting a sit-in at Jantar Mantar. Nagapattinam: On January 1, R Panneerselvam stepped out of his home thrice to check on his wasted paddy crop on his 3-acre land. The final time, a tired Pannerselvam flopped down on a chair and asked his eldest son to fetch him tea from a nearby stall. By the...
More »Law matters, not PM's word: A-G to SC on note ban deadline -Utkarsh Anand
-The Indian Express "There is no question of PM’s speech...if PM says March 31, 2017 but the law says December 30, 2016, the law will prevail over the PM. Let’s be clear about that first," the A-G submitted before a bench led by Chief Justice of India J S Khehar The Central government’s top law officer, Attorney General Mukul Rohatgi, told Supreme Court Tuesday that the “law will prevail over” Prime Minister...
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