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.
If a risk taker and young, NPS would suit her/him. Otherwise, s/he should go for EPF.
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.
Pronab Sen, the government's former chief statistician, says contrary to perception, GDP growth won't be drastically hit in the present quarter.
A large number of people using cards at PoS Cards being used more frequently Small-ticket transactions Mastercard South Asia head Porush Singh calls these the three key trends for a cashless future. And post-demonetization India, he believes, is steadily moving towards it.
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.
The economy could return to 8% growth by the end of 2017-2018, says Arvind Panagariya, vice-chairman NITI Aayog.
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%.
Consensus seems a problem before the current session of Parliament ends.
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.
'Demonetisation may have been well-intentioned, but it was a major mistake. The government should reverse it. It could at least declare that Rs 500 notes, which many poorer people frequently use, are legal again,' Basu, who till recently was World Bank vice-president, wrote in an opinion piece in The New York Times.
Lens on rural transactions. Only 38% of branches of scheduled commercial banks (SCBs) are in rural areas
The study says the entire supply chain of goods and services will suffer a massive liquidity shock.
'Because of the government's step, the people are now going to splurge on consumption.' 'If you ask me, would growth be 8% for 2017-2018, I would say 7.5% because of the demonetisation move would not be very significant.'
Information gathered from a person's social media account will be matched with his or her declared income.
Significant portion of the funds used to fuel urban demand have become illegal and inoperative.
Reducing it to 1.3% would lead to savings of Rs 70,000 crore over 5 years
Chief Economic Advisor Arvind Subramanian says that he hopes GDP growth will be at the upper end of the 7-7.5 per cent range.
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