Cash Ban Impact

Former Chief Economic Advisor Arvind Subramanian said the autonomy of the Reserve Bank of India must be protected because the country will benefit by having strong institutions.

With India still struggling to measure the impact of last year's unprecedented clampdown on cash -- especially on the vast informal sector -- some analysts are using innovative indicators to assess the health of the $2 trillion economy.

"Excessive dependence on cash has its own cost," said the Finance Minister.

Government data on Thursday showed consumption continued to fall under the impact of Prime Minister Narendra Modi's clampdown on cash and investment stayed sluggish.

Fitch said the recovery in global growth is strengthening and is expected to pick up to 2.9 per cent this year and peak to 3.1 per cent in 2018 - the highest such rate since 2010.

Benefits of unprecedented decision to cancel 86 percent of currency in circulation will take time to fully play out and need more work to ensure they're lasting, he said.

Polling was held in 73 assembly constituencies in western Uttar Pradesh on Saturday in the first of seven phases of what is billed as a semi-final before the 2019 national election. A turnout of 64.2 per cent was recorded, 3 per cent better than that registered in 2012 state elections. The pressure is on the BJP which swept the region in the 2014 n...

The worst of the cash crunch is now over and the government expects it to be fully cleared by the end of April. A private manufacturing survey on Wednesday showed business is slowly returning to normal.

In the study, India Development Foundation (IDF) assessed the impact of demonetisation on agriculture and the informal sector that rely heavily on cash transactions and also provide employment to majority of population.

RBI Governor Urjit Patel will brief a parliamentary panel tomorrow about demonetisation and its impact on the economy and the steps taken by the central bank to deal with the cash crunch. Representatives of the Finance Ministry, including the department of Economic Affairs, Financial Services and Revenue will also brief the members of the Standing...

PM Modi on November 8 abolished old 500 and 1,000-rupee notes in a bid to root out corruption and force the nation away from its cash habit to digital transactions.

Post notes-ban, cash-based transactions worth Rs 25,000 crore have moved to the digital mode, says a survey.

With less than a month to go before the annual presentation, Statistics Office has refused to estimate the impact of PM Modi's unprecedented cash clampdown on gross domestic product.

The Reserve Bank of India on Tuesday advised banks to supply at least 40 per cent of new currency notes in rural areas to overcome the impact of demonetisation. The circular by the central bank has been issued after reports of rural areas in the country facing cash shortage post-demonetistion. The government had on November 9, 2016 demonetised 86 p...

In Gajju Majra near Patiala, 32-year-old Harpreet Singh wakes up and heads straight to the bank. From 7 am, he waits in a queue along with his fellow farmers to withdraw money, so that he can buy fodder to feed his cattle and essential material for his crop. Almost two months after the notes ban, farmers in Punjab remain distressed by the cash crun...

Former Chief Economic Advisor Arvind Subramanian said the autonomy of the Reserve Bank of India must be protected because the country will benefit by having strong institutions.

With India still struggling to measure the impact of last year's unprecedented clampdown on cash -- especially on the vast informal sector -- some analysts are using innovative indicators to assess the health of the $2 trillion economy.

"Excessive dependence on cash has its own cost," said the Finance Minister.

Government data on Thursday showed consumption continued to fall under the impact of Prime Minister Narendra Modi's clampdown on cash and investment stayed sluggish.

Fitch said the recovery in global growth is strengthening and is expected to pick up to 2.9 per cent this year and peak to 3.1 per cent in 2018 - the highest such rate since 2010.

Benefits of unprecedented decision to cancel 86 percent of currency in circulation will take time to fully play out and need more work to ensure they're lasting, he said.

Polling was held in 73 assembly constituencies in western Uttar Pradesh on Saturday in the first of seven phases of what is billed as a semi-final before the 2019 national election. A turnout of 64.2 per cent was recorded, 3 per cent better than that registered in 2012 state elections. The pressure is on the BJP which swept the region in the 2014 n...

The worst of the cash crunch is now over and the government expects it to be fully cleared by the end of April. A private manufacturing survey on Wednesday showed business is slowly returning to normal.

In the study, India Development Foundation (IDF) assessed the impact of demonetisation on agriculture and the informal sector that rely heavily on cash transactions and also provide employment to majority of population.

RBI Governor Urjit Patel will brief a parliamentary panel tomorrow about demonetisation and its impact on the economy and the steps taken by the central bank to deal with the cash crunch. Representatives of the Finance Ministry, including the department of Economic Affairs, Financial Services and Revenue will also brief the members of the Standing...

PM Modi on November 8 abolished old 500 and 1,000-rupee notes in a bid to root out corruption and force the nation away from its cash habit to digital transactions.

Post notes-ban, cash-based transactions worth Rs 25,000 crore have moved to the digital mode, says a survey.

With less than a month to go before the annual presentation, Statistics Office has refused to estimate the impact of PM Modi's unprecedented cash clampdown on gross domestic product.

The Reserve Bank of India on Tuesday advised banks to supply at least 40 per cent of new currency notes in rural areas to overcome the impact of demonetisation. The circular by the central bank has been issued after reports of rural areas in the country facing cash shortage post-demonetistion. The government had on November 9, 2016 demonetised 86 p...

In Gajju Majra near Patiala, 32-year-old Harpreet Singh wakes up and heads straight to the bank. From 7 am, he waits in a queue along with his fellow farmers to withdraw money, so that he can buy fodder to feed his cattle and essential material for his crop. Almost two months after the notes ban, farmers in Punjab remain distressed by the cash crun...