With cash -- the primary medium of exchange -- all but disappearing, it is now unlikely that the expected fillip to demand on account of a good monsoon and proceeds from the Seventh Pay Commission payout will materialise.
Months before 8/11, MP, Haryana probed note ban
'We asked them to withdraw these instructions immediately.
'We said, "If you don't withdraw, we are going to give a call that from tomorrow officers will totally boycott these instructions".'
The ripples from November 8 may be seen in next year's state budgets.
The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crpre of these right after.
Some believe the shift to mobile-based transactions will be seamless considering that the urban tele-density is 148%. In rural areas, it is touching 51%. But smartphone penetration in India is a mere 12%. Growth of mobile money has been extremely slow: It is currently 1%.
Much depends on how the liquidity situation evolves over the coming months, with greater clarity expected from the next monetary policy meeting scheduled for December 7.
Lens on rural transactions. Only 38% of branches of scheduled commercial banks (SCBs) are in rural areas
Reducing it to 1.3% would lead to savings of Rs 70,000 crore over 5 years
Creation of 115 million non-farm jobs over next decade critical to sustaining growth, says McKinsey
Taxes on health, excluding medicines, could rise from 8.8 per cent currently, to around 13.6 per cent - an increase of 4.8 per cent.
Moody's expects tax to be lower than the multitude of taxes such as sales tax, excise duties, local taxes, and value-added taxes the automobile sector currently pays
Seven months down the line, not much progress has been made, except that the scheme is still being fine-tuned.
Political scientist Vinay Sitapati explores the role played by the then Prime Minister P V Narasimha Rao in steering the reforms through in his new book Half Lion.
West Bengal and Maharashtra, despite having fewer public sector employees, are likely to face a higher burden of salaries and pensions.
The survey covered 47,535 households in rural areas and 36,065 households in urban areas.
The amount constitutes 45 per cent of the railways' total wage bill.
Higher interest rates in the US do not necessarily coincide with capital outflows.
The Finance Commission has substantially increased the allocation of funds to panchayats, but a large part of it is apportioned by state governments.
Experts say Prabhu displays a clear intent of reforms but has not been able to fully shake-up the mammoth railway system.
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