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Demonetisation

In a surprise move, the Central government has demonetised Rs 500 and Rs 1,000 currency notes. The move is aimed at fighting black money. Ever since the policy came into effect, people have queued up outside ATMs and banks to withdraw notes or exchange old currencies. The opposition has slammed the government with Trinamool's Mamata Banerjee calling for a rollback. Demonetisation has led to a logjam in Parliament. Demonetisation is a radical monetary step in which a currency unit’s status as a legal tender is declared invalid. This is usually done whenever there is a change of national currency, replacing the old unit with a new one. In India, it was first implemented in 1946 when the Reserve Bank of India demonetised the then circulated Rs 1,000 and Rs 10,000 notes.
Result: 1- 8 out of 862 Article found

As DCCBs try to dispose of old notes, RBI asks them to write them off as losses

Already saddled with crores in withdrawn notes, rural banks across state set to face increasing losses this year

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15 months after demonetisation, RBI still processing returned notes

RBI said in the report, for the year ended June 30, 2017, that only Rs 16,050 crore of the Rs 15.44 lakh crore in old high denomination notes had not returned

Budget 2018: Health sub-centres gear up for bigger role in preventive care

Budget for uncertain times

While a certain amount of extra spending can’t be ruled out, this has to be kept at a minimum. If it is not, the bond markets will get even more spooked than they are right now, interest rates will rise and, to that extent, will dampen whatever industrial activity there is right now.

Income tax in Union Budget 2018

Economic Survey 2018: Note ban, GST led to ‘substantial increase’ in new taxpayers

Taxpayers under the new tax regime have increased by 50 per cent; 18 lakh new I-T filers since Nov 2016.

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Q3FY18 earnings: Most companies meet expectations

The numbers, however, need to be seen in the context of the very weak base quarter in Q3FY17 when the acute shortage of cash, following the withdrawal of high denomination notes, disrupted the economy.

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Maharashtra: CBI conducts searches at 32 places for alleged exchange of demonetised notes

It was also alleged that the bank officers replaced the original small cash books with new summary books which reflected false entries to accommodate the exchange of scrapped notes.

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Demonetised notes worth Rs 97 crore found in Kanpur, 16 arrested

The Centre had banned high-value notes of Rs 500 and Rs 1,00o in a surprise move in November 2016.

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Tax-fruits of demonetisation

A direct outcome of demonetisation is a sharp increase in 2017-18 in tax buoyancy (revenues per unit of growth). Given this ‘unexpected’ result, will the knee-jerk critics of demonetisation please stand down?

Labour markets: The ‘puzzle’ of rural wages

The reasons for their going up even during the height of demonetisation are as straightforward as the current sharp deceleration.

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World Bank says India has ‘enormous potential’, predicts 7.3% growth in 2018

World Bank report: India, despite initial setbacks from demonetisation and Goods and Services Tax (GST), is estimated to have grown at 6.7 per cent in 2017, it added.

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Middle class can hope for tax relief in upcoming Budget: Sources

In the next Budget to be unveiled on February 1, the government could lower tax rate by 10 per cent on income between 5-10 lakh, levy 20 per cent rate for income between Rs 10-20 lakh and 30 per cent for income beyond 20 lakh rupees.

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Uttarakhand man consumes poison, goes to BJP minister with complaint on noteban, GST

State minister Subodh Uniyal said Pandey’s action “looks politically motivated”.

Faces on the fringes of news: ‘Demonetisation, GST, now coins’

Faces on the fringes of news: ‘Demonetisation, GST, now coins’

‘We got a special trunk made to stock coins,’ says Rajiv Thaman

Uttarakhand businessman consumes poison

Uttarakhand businessman enters BJP office after consuming poison, blames GST and demonetisation

Pandey, who has been in the transport business for the past five years, blamed the Trivendra Rawat-led government and the Centre for loss in business due to demonetisation and GST

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When Manmohan Singh brought reforms in 1991, GDP was reduced to 1.1%, says NITI Aayog VC

“When Manmohan Singh brought some reforms in 1991-92, our GDP was reduced to 1.8. In comparison to that, it’s an achievement that even after huge reforms like GST and demonetisation, our GDP didn’t face that reduction,” Rajiv Kumar said.