Kolkata: On the second anniversary of demonetisation, West Bengal Chief Minister Mamata Banerjee on Thursday slammed the central government under Prime Minister Narendra Modi for cheating the nation with the note-ban “scam”. Calling it a dark day, Banerjee tweeted: “The government cheated our nation with this big #Demonetisation scam. It ruined the economy and the […]
Mumbai: Over 99 per cent of the Rs 15.3 lakh crore taken out of circulation through demonetisation in November 2016 has returned to the Reserve Bank of India (RBI), the central bank announced on Wednesday. The RBI’s annual report 2017-18 said that on completion of the process of verification of the scrapped Rs 500 and […]
New Delhi: Making a sharp attack on the Modi government on demonetisation, former Finance Minister P. Chidambaram on Wednesday said the country paid a “huge price” for cancelling what turned out “a small sum” of Rs 13,000 crore. He said for the Rs 13,000 crore, which did not come back to the banks, the country […]
New Delhi: The inside story of the issues that made headlines during the Presidentship of Pranab Mukherjee — demonetisation, surgical strikes and others — will find mention in the fourth part of his autobiographical series, titles “The Presidential Years”. Billed as a “first of its kind” book, it will be published in December and will […]
New Delhi: Finance Minister Arun Jaitley on Tuesday said demonetisation and the Goods and Services Tax (GST) led to higher formalisation of economy resulting in higher direct tax revenue and greater number of income tax return filings. “The impact of demonetisation and GST implementation has resulted into higher formalisation of economy. This is further substantiated […]
Kuala Lumpur: Congress President Rahul Gandhi on Saturday took everyone by surprise with his reply when he was asked how he would have rolled out demonetisation had he been in the government. His reply was: “If I was the Prime Minister, and someone had given me a file with demonetisation written on it, I would have […]
New Delhi: The Reserve Bank of India (RBI) had printed high denomination notes worth Rs 15,78,700 crore as on December 8, of which Rs 2,46,300 crore has not been supplied to the market, state-run State Bank of India (SBI) said on Wednesday. Based on the government and RBI data, the SBI, in a research note […]
New Delhi: Union Finance Minister Arun Jaitley today said that US credit rating agency Moody’s upgrading India’s sovereign rating was an extremely encouraging international recognition of the structural reforms undertaken by the government including demonetisation, GST and recapitalization of public sector banks. “It is a belated recognition of all the positive steps taken in the last […]
New Delhi: The Bharatiya Janata Party (BJP) has said that it will observe the first anniversary of the November 8 demonetisation as “Anti-Black Money Day” across the country. The decision of the ruling party came in a bid to counter the opposition’s plan to observe the anniversary as ‘Black Day’. “There was a parallel black […]
United Nations: India has lost its rank as the world’s fastest growing major economy in the International Monetary Fund’s tally after it slashed India’s growth projection for 2017 by 0.5 percent to 6.7 percent on Tuesday. China edged slightly ahead to be the growth champion with a projected growth rate of 6.8 percent, according to […]
Thiruvananthapuram: Even after coming under heavy criticism over his ‘toilet’ remarks soon after he became a Union Minister, K.J. Alphons on Monday said he will continue to speak of toilets. “No amount of ridicule will prevent me from speaking about the need of building toilets as 67 per cent of the country’s population does not […]
Rajkot: Attacking the Narendra Modi government over its manner of implementing GST and on demonetisation, Congress Vice President Rahul Gandhi termed the former “catastrophic” to small and medium businesses and the latter legalising the black money of “the country’s biggest thieves”. Interacting with businessmen, intellectuals and entreprenuers in this Gujarat business hub late Tuesday, he said […]
New Delhi: Acknowledging that private investment was short in coming, Finance Minister Arun Jaitley on Thursday said that the government will come out with “appropriate action” at the right time to boost the economy. “From day one, this is a proactive government. We are analysing the economic indicators and appropriate action will be taken at […]
New Delhi: Increase in volume of digital transactions, widening of tax base and squeezed circulation of high denomination currency were the real measures of success of demonetisation, Finance Minister Arun Jaitley said on Monday. The success of the November 2016 note ban came under attack after the Reserve Bank of India revealed that almost 99 per […]
Kolkata: Reserve Bank of India’s former Deputy Governor S.S. Mundra, on Tuesday said that the “by-products” of demonetisation could be “more avaluable” than the main objective behind the move. “In case of certain manufacturing industry we see that the by-products are more valuable than the main products. This can be compared to demonetisation,” Mundra said […]
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