Former Prime Minister Manmohan Singh shared his scathing opinion on the second anniversary of demonetisation on Thursday and said, “Today is a day to remember how economic misadventures can roil the nation for a long time.” “It is often said that time is a great healer. But unfortunately, in the[Read More…]
Tag: note ban
No direct link between demonetisation and agricultural prices: Radha Mohan Singh
Central government on Friday said that there is no “direct link” between demonetisation and the prices of agricultural commodities. “There is no direct link between demonetisation and the prices of agricultural commodities,” Agriculture Minister Radha Mohan Singh said in Rajya Sabha. He added that the government had taken enough steps[Read More…]
No proposal to withdraw Rs 2000 currency notes, says Jaitley
Finance Minister Arun Jaitley on Friday said there is no proposal to withdraw the Rs 2,000 notes that were introduced post-demonetisation. The Rs 2,000 banknotes were introduced along with new Rs 500 currency following the withdrawal of old Rs 500 and Rs 1,000 notes from November 9, 2016. “There is[Read More…]
Indian housewives’ years of saving added to junk
Demonetisation has affected normal life says Chidambaram
BJP government’s demonetisation scheme of scrapping high-value currency notes in order to solve the problem of black money in India had a critical impact on the majority of the population in the country, said former Union minister P Chidambaram. Addressing a discussion on ‘Demonetisation scheme’, he claimed that the ban on high-value currency[Read More…]
Modi’s new budget prioritises consumers before taxes
As Indian economy struggles with low consumer rate post demonetisation, PM Modi is expected to lower taxes in the Feb. 1 budget to spur consumption. The risk is that a cut in tax will rob Modi of a short-term revenue rush, which his administration had been endorse as proof of[Read More…]
Congress holds nationwide protest against note ban
Congress workers protested at Reserve Bank of India (RBI) offices at several locations across the country on Wednesday. The Congress party are executing their planned nationwide campaign against demonetization starting from Wednesday which included them gheraoing the RBI offices. This is expected to continue till the 23rd of January. Senior[Read More…]
Man receives misprinted Rs 500 notes from an ATM in Madhya Pradesh
An ATM at a village in Khargone, Madhya Pradesh dispensed two new Rs500 denomination with one blank side. Although the bank officials said the misprinted notes were received as such from the Reserve Bank of India. “We have changed these ‘misprinted’ currency notes after the consumer’s complaint. We are now[Read More…]
Rs 14 lakh crore in old notes deposited and only Rs 75,000 crore out
According to Indian Express, an information available to the Reserve Bank of India (RBI) says that post demonetisation about ₹ 14 lakh crore in demonetised currency have been deposited with banks, so far. Which is also an indication that the notes that got extinguished was much lower than expected. However[Read More…]
Note ban short-term pain, says PM Modi; promises more reforms
Prime Minister Narendra Modi on Saturday hinted at more radical reforms, saying his government will not shy away from taking difficult decisions that are in national interest. Inaugurating a new educational and training campus of the Sebi-run National Institute of Securities Markets (NISM) in this industrial township near Mumbai, Modi[Read More…]
Note ban: KCR defends PM Narendra Modi, asks all to wait till Dec 31
Chief Minister K. Chandrasekhar Rao backed demonetisation and Prime Minister Narendra Modi in the assembly on Friday, saying the “abnormal decision” was taken in the interest of the country and would work wonders in the coming days. Lauding PM, KCR said demonetisation was a part of the “scheme of things”[Read More…]
NITI Aayog announces reward schemes to encourage digital transactions
In a bid to promote electronic transactions, NITI Aayog has launched two schemes – Lucky Grahak Yojana and Digi Dhan Vyapari Yojana – involving a rewards programme entailing a spending of Rs 340 crore. NITI Aayog CEO Amitabh Kant said “Lucky Grahak Yojana” or ‘Lucky Grahak Scheme” has been launched[Read More…]
Russia protesting cash shortage for diplomats post demonetisation
Russia is set to lodge a diplomatic protest against the note ban by the Indian government, which the country says has left its diplomats struggling for cash in Delhi, reported NDTV. Russian Government sources have told NDTV that Ambassador Alexander Kadakin is waiting for a reply to his letter to[Read More…]
Jan Dhan money must go to poor, says PM Narendra Modi
Prime Minister Narendra Modi on Saturday said he is working on a formula on how to send the corrupt to jail, who deposited their money in Jan Dhan accounts of poor after demonetisation and ensure this money goes to the poor households. Responding to criticism over long queues outside banks[Read More…]
Demonetisation: 50 per cent tax on unaccounted deposits, 85 per cent if caught
Intensifying its black money hunt, the government tabled a Bill to amend the Income Tax Act in the Lok Sabha on Monday to impose more tax, penalty and surcharge on deposits made after the demonetisation drive was launched nearly three weeks ago. The amendments provide a window to black money[Read More…]
Demonetisation: Twitter war between Mahesh Sharma and Kejriwal
A wedding in union minister Mahesh Sharma’s family has seized the attention of Arvind Kejriwal, who tweeted on Monday questioning how he is paying for it after the currency ban. Kejriwal tweeted in Hindi: “BJP MP Mahesh Sharma’s daughter is getting married. Is the entire payment in cheque? Has he[Read More…]