Fitch Ratings expects property sales in India to fall by at least 20%-30 percent in 2017, owing to disruption caused by demonetisation and general caution on the part of buyers. Homebuilders already have high levels of unsold inventory and a
If fighting black money is the aim, demonetisation is the wrong weapon, says India’s largest and oldest business body. “Demonetisation may wipe out the stock of black money held in
India is in the midst of a revolution. Demonetisation has impacted every family, business and institution, providing popular support to transform society, economy, polity and governance. To get the support of the chief ministers for implementation
Prime minister Narendra Modi, for so long a darling of business and industry, has received an editorial rap from business glossy Forbes for demonetisation. The move, which is being criticised heavily on grounds of being ineffective, anti-poor and
The longer run impact of demonetisation on formal domestic remittances could be significant. Following up on a major financial inclusion initiative (Jan Dhan Yojana) and new payments banks, this move is likely to drive a large segment of domestic
One thing consistent about demonetisation has been the ever-changing rules. Monday saw a new rule in place. One can now deposit the scrapped currency of Rs 500 and Rs 1,000 in excess of Rs 5,000 only once till December 30 a
A close friend, stock market wizard and intellectual sparring partner, also a Marvel Comics and Stan Lee fan, has been keenly following the demonetisation debate in media and elsewhere. “So this all seems horrible,” he said, mi
The Indian government has audaciously put the demonetisation show on the road, though with little consideration of infrastructural, banking and connectivity back-up. After making his own set of political calculations, the prime minister has quite
How can one sustain people’s support for demonetisation when they are beginning to realise that there was zero planning behind it, none of its touted benefits are coming true, and their pain and harassment have been meaningless? One can try
The government has initiated numerous steps to combat the scourge of corruption and black money in the last two and a half years, said NITI Aayog CEO Amitabh Kant on Thursday. Addressing a press conference, Kant said that there has
The unprecedented move to demonetise “will have short- and medium-term credit implications for every sector of the economy”, said Moody’s Investors Service. The latest edition of Moody’s Inside India
If you are planning to file a revised income tax return following demonetisation, then be warned. The income tax department will be looking out for manipulation or fudging and such cases may be taken up for scrutiny. The income tax
Do you think demonetization will help weed out black money? It is too early to say. Only when the final results are in by December 31, we will know if black money has been weeded out or not. Besides the figures too are i
Reasons given for demonetisation To control counterfeit notes that could contribute to terrorism To undermine or eliminate black economy &nb
The Reserve Bank of India (RBI) on Wednesday doubled the balance that can be kept in prepaid wallets and cards to Rs 20,000. Also, merchants can transfer up to Rs 50,000 per month from these so-called semi-closed prepaid payment instruments
By far the most sweeping change in currency policy that has occurred anywhere in the world in decades: that’s what former US treasury secretary and Harvard economist Lawrence H Summers along with PhD candidate Natasha Sarin say in a blog pos
Murugammal, 45, has an unhealthy pale appearance. She has no money to go and get her further medical tests done. She goes inside her thatched hut to fetch an X-ray report. “I just had Rs 1,000, which I had spent on getting X-ray done from me
Demonetisation is not the way to tackle black economy and it will in fact affect the white economy, believes Arun Kumar, a former professor of economics at the Jawaharlal Nehru University (JNU) who has authored The Black Economy in India (Pe
