Demonetisation impact News

Tomorrow will complete 6 years since the decision of demonetisation came into force on 8th November 2016. When demonetisation was implemented, this decision was repeatedly questioned, it was made a narrative that it would ruin the country's economy, we would go back many decades but nothing like this happened. Demonetisation has given a new direction to the country's economy and to understand this one must watch this DNA report.

Demonetisation and GST failed to deliver enough votes to the Congress yet again Rahul Gandhi had mocked GST as 'Gabbar Singh Tax', and repeatedly attacked the Centre over it Eight states head to the polls in 2018 and Congress may have to recalibrate its strategy

The plan to demonetise rupee 500 and rupee 1000 bank notes was kept highly confidential.

Among the main objectives of demonetisation was the flushing out of black money and also conversion of the non-formal economy into a formal economy to expand the tax base.

More digital interface would help create a transaction history for the small retailers and enable them to get loans from banks.

The opposition parties have planned to mark November 8 as ‘Black Day.

The outstanding demonetised notes as on November 8, 2016 were Rs 15.44 lakh crore. Of these, Rs 15.28 lakh crore or 99 per cent were returned, leaving only about Rs 16,000 crore outside the banking system.

India's high economic growth rate last fiscal may not reflect the actual impact of demonetisation particularly on the informal sector, and it may take a few months to assess its real fallout, Chief Economic Adviser Arvind Subramanian has said.

Housing sales stood at 28,472 units during the October- December quarter in eight major cities-- Gurugram, Noida, Mumbai, Kolkata, Hyderabad, Bengaluru, Pune and Chennai.

With the GDP growing by 7 percent in the third quarter, India Inc said the economy is getting back on track yet reforms are needed to revive investments and push demand hit by note ban.

After relentless debates have been underway discussing the impact of demonetisation, HDFC Bank Chairman Deepak Parekh on Tuesday stated that it is high time this discussion ended, while casting his vote in Mumbai today in the BMC polls.

Nearly half of the 18 lakh people under the I-T scanner for suspicious bank deposits post cash ban have been put in the 'doubtful' category, but action against them will follow only after the new tax amnesty scheme ends on March 31.  

The real estate sector is likely to witness further consolidation as property sales and demand have been affected post demonetisation, according to realty consultant JLL India.

After witnessing a "huge impact" due to demonetisation in November, homegrown auto major Tata Motors says it is seeing signs of recovery since the second half of December.

The RBI had recently raised the ATM withdrawal limit to Rs 10,000 a day but maintained the weekly cap at Rs 24,000 for saving account and Rs 1 lakh for current account holders.

Reserve Bank of India Governor Urjit Patel on Friday is learnt to have said that cash flow in the country will normalise soon.

The arsenal thrown at government this time has come from domestic rating agency Icra, and not from the Opposition camp, which claims that incomplete data was used to arrive at advance GDP estimates for 2016-17.

Passenger vehicle (PV) sales in India is likely to grow in the range of 7-9 per cent next year on the back of low fuel prices and an accommodative monetary policy stance by the Reserve Bank of India, according to global rating firm Fitch.