Parliament is expected to see yet another day of washout with an aggressive opposition insisting on Prime Minister Narendra Modi's presence in Parliament during the debate on demonetisation.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
He will be around for another crack at the elections, and a clear majority, predicts Saisuresh Sivaswamy.
The Supreme Court on Friday refused to tinker with the move to do away with the use of now-defunct high-value currency notes for public utilities, in government hospitals and for rail tickets.
"This 'notebandi' is a positive step which will lead to benefits. It will happen," the JD-U president said, terming corruption and black money as a "big sin and festering wound" which must be eradicated.
'Investors hate uncertainty and the demonetisation move certainly creates that.'
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.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
'The more harder India pushes its nationalism on to its population, the further away we send Kashmiris.' 'We should understand that the unrest in that state cannot be solved by demonetisation. There are much deeper causes,' says Aakar Patel.
Stating that implementation of the demonetisation policy had its "share of challenges", Nooyi hoped that things will return to normal by the second quarter.
While Zee managed single-digit growth in revenue, HT Media's income dipped marginally, reports Urvi Malvania/Business Standard.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
Kerala Chief Minister Pinarayi Vijayan, along with his ministers, sat on a dharna in front of the Reserve Bank of India office in Thiruvananthapuram protesting against the Centre's move to "destroy" the cooperative sector in the state under the cover of demonetisation process and also took pot shots at Prime Minister Narendra Modi.
India Inc said policymakers should take doable steps to revive fixed investments and production of capital goods
'Imagine what the BJP's urges would be if India's electorate awarded it truly brute majorities like the 400 plus seats the prime minister called for in the 2024 general elections?' asks Shyam G Menon.
'The policy focus of the government should have been on creating more good quality jobs but that was not their focus.'
Successful demonetisation will help in raising revenues on sustained basis as more and more people will come under the tax net, says a World Bank report.
The home ministry has deputed three top officials to be in touch with state governments to ensure security of banks, ATMs and cash transporting vehicles.
FY17 GDP growth faces cash crunch heat
In Reserve Bank offices, 59 CVPS machines are used and each machine is operated by a set of five persons under a supervisor who supervises a cluster of machines
It will be in Modi's interest to reinvent his party, read the writing on the wall that voters wrote, and move ahead. He has little choice now. The country is watching, asserts Ramesh Menon.
The note ban is Modi's make-or-break gambit for 2019. Opposition leaders see a vulnerability and won't gift pre-eminence to the Congress, says Shekhar Gupta.
It has always been accepted in various apex court rulings that economic policy is not justiciable. It can intervene only if the legislation is seen to violate fundamental rights says Sukumar Mukhopadhyay.
Microfinance portfolio of SFBs saw a muted growth of about 3% last year
He dismissed as "hollow claim" Prime Minister Narendra "Modi's propaganda" that things have started looking up
A Nielsen report found that biscuits, salty snacks, toilet soap, shampoo, washing powder and skin creams were reporting a sharp decline in sales due to demonetisation, reports Viveat Susan Pinto from Mumbai.
They alleged that the central bank has "failed miserably" in handling the situation post-demonetisation.
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
The Chittoor MP's dress was split vertically with a white part having pictures of a wailing farmer and a worker while the other portion in black showed rich people rejoicing.
'India is still a cash economy.' 'For a common household, almost everything from grocery to maid services is paid in cash.' 'The demonetised notes account for 85 per cent of the currency in circulation.' 'Until fresh notes flow back into the economy, day-to-day transactions ordinarily done in cash will be impacted.'
The annual cash offerings of the hundi in the just ended calendar year have even crossed Rs 1000 crore
The 'black paper', titled '10 saal anyay kaal' also alleged that issues such as rising prices, unemployment, subversion of institutions and farmers' 'distress' had plagued the country.
Yechury said the prime minister was making statements after statements outside Parliament when it was in session but not inside and this 'amounts to utter contempt of Parliament'.
Mounting a blistering attack on Prime Minister Narendra Modi, Rahul Gandhi on Friday said the demonetisation drive launched by him was "firebombing of 99 per cent honest people" and not a "surgical strike".
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
In all the time he has spent in bank and ATM queues, these are the 10 arguments that were being thrown at him constantly by those supporting the demonetisation, says Syed Firdaus Ashraf.
'The Opposition parties will continue to woo Chandrababu Naidu even though he has said he will support the BJP.'
'The 2024 election results will lead to much intense targeting of Modi, more intense debates, many more breakdowns in Parliament and many more movements on the streets.' 'The results have hit Modi's standing, and the politics of the Opposition parties will be sharply focused to ensure that Modi doesn't get back his charisma of being 'invincible' with help of State power.' Sheela Bhatt looks at the political situation through the prism of 2024 Lok Sabha election results.
Opposition leaders on Thursday observed a 'Black Day' in Parliament premises to mark one month of the announcement of demonetisation, with Rahul Gandhi launching a scathing attack on Prime Minister Narendra Modi, saying his "foolish decision" has "devastated" the country.
In the last of a six-part series Sanjay Jog discovers that if the government and beedi employers don't act now, there could be social unrest soon.
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