Declaring demonetisation a complete failure may turn out to be hasty, argues economist Ashok K Lahiri.
Prime Minister Narendra Modi on Saturday inaugurated the 6th India Mobile Congress at Pragati Maidan in Delhi and launched 5G services. The 5G telecom services seek to provide seamless coverage, high data rate, low latency and highly reliable communications system. The three major telecom operators of the country demonstrated one use case each in front of the prime minister to show the potential of 5G technology in India.
The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
The US Air Force's (USAF) two newest fifth-generation supersonic multirole F-35A aircraft made a historic debut at Aero-India here on Monday, drawing strong interest and adding lustre to the five-day marquee event.
'Much as I have been enjoying the anti-GST jokes on WhatsApp and also worrying about the economy in a tailspin in more serious moments, there is a tiny part of me that is thankful to Modi and Jaitley,' notes Keya Sarkar.
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
The Central Board of Secondary Education (CBSE) has rationalised by up to 30 per cent the syllabus for classes 9 to 12 for the academic year 2020-21 to reduce course load on students amid the COVID-19 crisis, Union Human Resource Development Minister Ramesh Pokhriyal 'Nishank' announced on Tuesday.
Image used for representational purpose only. Photograph: Jayanta Dey/Reuters The Congress also said demonetisation has come a full circle and added that the Rs 2,000 note was a "band-aid to cover up the foolish decision of demonetising" Rs 500 and Rs 1,000 notes.
179 million debit cards were issued during December 2016 to June 2018. A mere 2,000 ATMs were opened in the same period.
'I expect a demand stimulus in the Budget. 'There has been such a shock to the economy that such a stimulus would be needed.'
How has the note ban affected newspapers and the rest of the media?
How many more years, how many more states, how many more campaigns, how many more candidates can he ask votes for, before he or the voters or both tire?, asks Krishna Prasad.
'Traders have been the worst hit because of the government's policies, but for some unknown reason, many continue to support the BJP.'
'In a country like ours, people talk about wanting to be like Singapore, but when it comes to paying taxes, they start criticising.' 'The medicine is bitter, but the long term effect is good,' Senthil Natarajan, who runs Kovai Pazamudhir Nilayam, a one of its kind fruit and vegetable chain in Tamil Nadu, tells Rediff.com's Archana Masih.
The corporate sector took production cuts, conducted inventory management and reduced staff to meet challenges following the govt's note ban decision
The Bharatiya Janata Party rejected this was any sort of demonetisation and instead reminded the Congress that even during the rule of Manmohan Singh, old currency notes were taken off circulation.
Could the gains in terms of widening the tax net, increased digital transactions and detection of higher fake currency notes have been achieved without the huge disruption and output loss that demonetisation caused to the Indian economy, asks A K Bhattacharya.
The IAF carried out 33 missions transporting 625 tonnes of treasury consignment after the demonetisation was announced, the ex-IAF chief said.
According to the report, financial assets of the Indian households are predominantly in the form of bank deposits, followed by life insurance - a pattern that got disrupted after note ban
The currency with the public is 10.3 per cent higher than it was in the week preceding November 8, 2016 - from Rs17.97 trillion to Rs18.76 trillion.
The Nikkei Markit India Manufacturing Purchasing Managers' Index increased to 50.7 in February
Many traders say that after demonetisation cash in the market has drastically reduced
The Mahindra's Scorpio-N becomes the first body-on-frame chassis SUV to secure a five-star Global NCAP rating.
As on June 16, currency in circulation was Rs 15.29 lakh cr, or 86.2% of pre-note ban level
The cash crunch following demonetisation and transaction fees that do not cover costs are among the reasons why the sector is struggling.
While Gurugram sees biggest drop in house prices, housing sales in Bengaluru dropped by 45 per cent followed by Kolkata, a 44 per cent decrease, and Ahmedabad, a 42 per cent decline.
In an otherwise agriculture- and public health-focused Union Budget 2018-19, artificial intelligence, machine learning, blockchain technology, internet of things -- jargons that found little or no mention in the previous Budgets -- managed to make their presence felt.
The protests will highlight the impact of the twin blows of demonetisation and GST
'There is global appreciation of the fact that India has the capacity and courage to carry out structural reforms like demonetisation and GST,' the finance minister said.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
Even the well heeled in metros find it difficult to go completely digital. Cash withdrawals from ATMs are back at the same level as they were before demonetisation
Well then, what did DeMo achieve? As predicted by most economists, the volume of transactions fell, economic activity was adversely impacted, and some sectors (which were more dependent on cash transactions) witnessed greater disruption than others, says Rahul Khullar.
New filers reported an average income, in many cases, close to the income tax threshold of Rs 250,000, limiting the early revenue impact.
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
Althea Krishna's collection inspired by the defunct 500 and 1,000 notes was showcased at Lakme Fashion Week Summer/Resort 2017.
Card-based EMI transactions dropped about 60 per cent in the first week after demonetisation and then recovered steadily. However, these are not yet back to the levels before November 8.
'After household expenses, we are left with nothing...' 'Sometimes I think it is better to shut the store...'
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
The Congress, which described the note ban decision as the "biggest scam" and "the largest government-abetted money laundering scheme", has asked all its state units to organise protests, processions and marches to mark the day.
Why wait for Diwali, shaadi or spend time in an ATM queue to enjoy your favourite laddoo? Sample these all time-favourite recipes.
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