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A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
Demonetisation will help in transfer of resources from tax evaders to government, he said.
'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.
"Cash is still quite high in the system. There is also stocking of Rs 2,000 notes in evidence. The expansion of digital payments is taking place all over the world. It is happening in India as well. The pace is much slower," S C Garg, who took VRS from government service after he was abruptly shifted out of the finance ministry, said in a note.
Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
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.
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Jaitley said that when cash is deposited in the banks, it loses anonymity and can be identified with its owner.
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.
Former Indian Prime Minister Manmohan Singh passed away on Thursday night at the age of 92. He was brought to the emergency department of AIIMS Delhi in critical condition after "sudden loss of consciousness."
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.
From connectivity woes to infrastructure advancements and the startup boom, there is a gulf between claims and reality in India's economic landscape, points out Devangshu Datta.
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.
Justice BV Nagarathna said she had to dissent against the demonetisation move by the central government as in 2016, when the decision was announced, the Rs 500 and Rs 1,000 notes comprised 86 per cent of the total currency notes in circulation, and 98 per cent of it came back after they were banned.
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
'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.
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.
'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.
In a relatively rare occurrence, the growth in manufacturing jobs exceeded the pace of sector growth in 2022-23 (FY23). The number of persons engaged in the segment grew by 7.43 per cent in FY23, according to figures from the Annual Survey of Industries (ASI) released on September 30. The gross value added for the manufacturing sector grew by 4.24 per cent in current prices and declined by 2.2 per cent in real terms for FY23, according to earlier annual figures released by the government.
He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
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.
Kharge also hit back at the BJP for criticising his party colleague Rahul Gandhi over a copy of the Constitution with a red cover. He showed a picture of PM Modi gifting a similar copy to former president Ramnath Kovind.
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.
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.
Annapoorna chain of restaurants owner Srinivasan is seen purportedly highlighting concerns over varying GST rates. In the second video, Srinivasan was seen purportedly apologising in person to the Finance Minister.
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.
