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Demonetisation led to economic slowdown: Bengal FM Amit Mitra

"Seventeen reasons were given to justify demonetisation, but none of those hold good. There is more cash in the system now than there was before demonetisation," says Amit Mitra.

No record to show MSMEs impacted by demonetisation: Gadkari

Gadkari said that small enterprises were facing issues related to shortage of wor...

Demonetisation, GST & liquidity crisis drove small businesses to the brink. Then came coronavirus

A string of economic, policy and structural...

  • In the second quarter ended September 2019, the total number of microfinance loan accounts were at 9.79 crore as compared to 7.43 crore account in the year-ago period, according to a quarterly report by Microfinance Institutions Network (MFIN). Since March 2017, an estimated 1.83 crore unique borrowers have been added, which is an average of 0.73 crore per year.

    Vivaad se Vishwas scheme looks like a blessing for those who came under scrutiny following demonetisation.

    Jewellers have received tax notices asking them to turn over money they made from gold sales during DeMo.

    The BSE mid-cap index fell by nearly 3 per cent this year

    Armed with data, tax authorities have cracked the whip on jewellers who made huge cash deposits post demonetisation in 2016 but could not explain how they generated so much money when they were showing low income in their tax returns.

    The move will apply to all companies with a turnover of Rs 50 crore or more. Merchant Discount Rate is the fee paid by a merchant to a bank for accepting digital payments. The move is part of the budget announcement in July.

    Former Air Chief Marshal B S Dhanoa has said that after demonetisation in 2016, the Indian Air Force (IAF) transported 625 tonnes of new currency notes to various parts of the country.

    A high-level inter-ministerial coordination committee has raised concern about absence of effective regulatory mechanism for gems & jewellery and real estate sectors to curb money laundering and counter terror financing ahead of India’s case coming up for review before FATF in October 2020. Countries on FATF grey list could could face restrictions from international financial system.

    As per the state's Economic Survey, in FY 2016-17, when demonetisation of high value currency notes was announced by Prime Minister Narendra Modi (on November 8, 2016), the employment indicator reported a "correction" of 44,000 jobs. The indicator in the Economic Survey 2019-20 stated that industries in the state in fiscal 2015-16 had a total number of 19.70 lakh employees.

    Domestic consumer sales rose to Rs 9,696 crore.

    "We have opposed these amendments in Parliament and will continue to oppose them in practice. We condemn this piecemeal destruction of our democratic institutions and will continue to fight the Modi government in these self-serving actions which are the very opposite of national interest," she said.

    "Whether NPR or NRC, it is a tax on poor people of the country. You understand demonestisation. It was a tax on poor people. Go to banks and give your money but do not withdraw money from your account. Entire money went to the pocket of 15-20 rich people. This (NPR or NRC) is the same thing," Rahul Gandhi said.

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