Earlier at the University of California, Berkeley Gandhi had said that Modi had caused "tremendous damage" to India's economy with his "reckless and dangerous" decisions like demonetisation and "hastily-applied" GST.
'The whole country supports the government. The exceptions are only two -- those who thrived on black money and those who are inimical to Indian interests,' argues Major General Mrinal Suman.
How the demonetisation drives in India and Venezuela have played out.
Jaitley said that when cash is deposited in the banks, it loses anonymity and can be identified with its owner.
The Reserve Bank of India (RBI) on Monday said 97.87 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,581 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 7,581 crore at the close of business on June 28, 2024.
Will demonetisation lead to a rate cut, leading to higher quantum of lending?
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
It's been 13 days that the Winter Session commenced, but no work has taken place as MPs continue to spar over the note ban.
'PM Modi would have swept the elections in Kashmir after notebandi but then he scrapped Article 370 so all his good work went down the drain.'
A day ahead of the nationwide protests planned by the opposition against demonetisation, Prime Minister Narendra Modi defended the move and warned unscrupulous people using the Jan Dhan accounts of the poor to launder their black money of strict action.
'It is like bombing a building with 200 people to kill 5 terrorists.'
Political compulsions have led to a change of narrative. But, in the ministry of finance, senior management ought to be looking at more serious issues than 'digitally cashless' India, says Rahul Khullar.
'Demonetisation will push India onto a higher growth path after a temporary dip.'
Despite the indisputable facts demonetisation and its pain is yet to have a quantifiable political backlash. But this is provided the government can limit the damage to the next one week.
Note ban hits sales and registration of new cars; states work online payments model to deal with cash crunch. Ajay Modi and T E Narasimhan report.
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
In refusing to accept its failure, the government has sowed the seeds of further damage: by keeping India short of cash; reducing the headroom for responses to seasonal spikes in cash demand; and increasing the chances that groups will panic at temporary cash shortages, says Mihir Sharma.
'The government's principal aim should be to reduce the volume of cash transactions.' 'That would bring more of the Indian economy within the purview of taxation.' 'The current downturn in economic activity due to a lack of adequate cash is likely to be limited to a year,'
The two ministers were released from Parliament Street police station an hour later.
'GST had to come close on the heels of demonetisation as part of the same package.'
It's five months after 8/11. But this is not the first time that India's currency of the time faced the axe. The Mughals, after invading a territory, would effect the demonetisation of the local currency with the aim to cripple the economy of the land.
He termed the Centre's decision to demonetise Rs 500 and Rs 1,000 notes as "surgical strike" on common man's "small savings" and not on "black marketeers".
Modi's demonetisation move has hit the real estate market in Delhi and Mumbai
Opposition parties forced early adjournments in both Houses of parliament as they continued to press for a debate on demonetisation under any rule that entailed voting, a demand that the government has refused to accept. Congress vice president Rahul Gandhi led a walkout by the Opposition over no obituary references being made for the seven Army personnel who lost their lives in the terror attack on an Army base in Nagrota, Jammu and Kashmir.
Significant portion of the funds used to fuel urban demand have become illegal and inoperative.
In the fourth of a six-part series Sahil Makkar finds out how badly Jalandhar's sports goods industry was hit by the note ban and the price it continues to pay.
Both Houses were adjourned multiple times as Opposition members kept on shouting slogans against the PM.
'If the NDA comes to power with 320-330 plus seats, then we could see some correction. We could possibly see a level of 19,500 to 20,000.' 'If the NDA comes to power with a majority of 400-plus, we could see the markets going to about 23,500-24,000 levels.' 'And from there we could see some correction because markets are expensive at this point of time and a correction is overdue.'
There was no let up in Opposition's protest over the demonetisation issue in the second week of the winter session of Parliament as parties insisted that no discussion on demonetisation would take place till the House mourns the nearly 70 deaths caused by hardships due to the withdrawal of higher denomination currency notes.
The opposition stated that BJP party members converted their black money by purchasing eight land parcels worth Rs 3.41 crore in Bihar in the run up to the notes ban.
The currency ban has changed the lives of the people facilitating this move across India.
One thing is certain: Demonetisation has broken the back of terror funding, says Colonel Anil A Athale.
'They think quick fixes like internship in the private sector will help. 'In fact, internships have been going on for the last one decade.' 'In 2014-2015 itself, we had a ministry of skill development. None of the programmes have yielded results, still they are continuing with such schemes under some other name.' 'We don't see any seriousness on the part of the government to attack the problem of unemployment.'
'We feel EMI holidays should pick up now.' How travel companies are trying to win customers after demonetisation.
Sukanya Verma gives you some great options to choose from.
In the wake of Centre's decision to demonetise currency notes of Rs 1,000 and Rs 500, the organisers of the Pune International Marathon (PIM) have postponed the run and has been rescheduled for January 2017.
A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud said the Constitution Bench would also deal with the individual plea of those who could not deposit their currency notes during the window period provided by the Reserve Bank of India.
'The lack of opportunities here remains the biggest worry.' 'We have seen investment summits, but if you look around, much of it is only on paper and not on the ground.'
"It is very dangerous in the 21st century to exclude people," said the Congress president.
Reserve Bank of India Governor Urjit Patel is learnt to have told the parliamentary panel on demonetisation that discussions between the central bank and the government on the process began early last year.
