'We have to stop thinking about GDP and look at the impact on output and unemployment.' 'And that is not going to be insignificant.'
The government hopes the latest action will lead to banks also lowering the cost of borrowing for corporate and individual borrowers.
'There are deliberations on whether there can be lowering of income taxes and other sops to keep more money in the hands of taxpayers, enabling them to spend more and boost demand.'
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
Lower interest rates needed to boost manufacturing, officials say.
Rs 14.5 lakh crore of Rs 500 and Rs 1,000 notes have been deposited as of 30/12.
Sops for middle class, poor and farmers on cards.
Whether or not such an overhaul will be carried out depends on the government's comfort level.
Such a move will help bring clarity to the Centre's estimates of the demonetised amount
Increase of 10% to 12% likely in a bid to improve citizens' mood after demonetisation.
Senior bureaucrats say the government has planned a 'feel-good' Budget after the 'pain' of demonetisation.
IDS-2 and raids to uncover black money stash keep receipts flowing
Measures may include tax slab and rate revisions for individuals, companies.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
Branch networks will give preference to pensioners and labourers for withdrawing money.
The praise comes a year after Prime Minister Narendra Modi termed it a 'monument of UPA's failures'.
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