Tag: Demonetisation
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Who Benefitted After Modi’s Demonetisation?
It is usually believed that Narendra Modi’s surgical attack on the economy that he declared through the demonetisation of thousand rupee and five hundred rupee notes, exactly five years ago, was a disaster. Well, it surely devastated a large section of the economy but that does not really mean that Modi failed in what he…
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Demonetisation: Was It A Complete Failure?
Five years back on November 8, Prime Minister Narendra Modi appeared on national television and said all Rs 500, Rs 1,000 high-value notes will turn invalid by midnight. The announcement at 8 pm— aimed at flushing out money hidden from the taxman, known as black money—led to nearly 86 percent of the currency in circulation…
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India loses fastest growing economy tag, demonetisation lowered GDP
Kolkata: The latest economic data released by the Central Statistics Office (CSO) reveals that during the fourth quarter of 2016-17, India’s Gross Domestic Production (GDP) remained at 6.1 per cen only despite its touted growth of 7.1. “Real GDP at constant (2011-12) prices in Q4 of 2016-17 is estimated at Rs 32.28 lakh crore, as…
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Digitalisation is a Double-edged Weapon
Digitalisation, which Prime Minister Narendra Modi is touting as the panacea for the country’s ills, is a double-edged weapon. If it can help solve problems, it can also make the job of the rogues easier. It was the digitalisation that turned small examination frauds into what has now come to be known as Vyapam scam…