An RBI study has found that the controversial note-ban imposed in November 2016 has led to further decline in the already falling credit to the MSME sector, while GST roll-out has not made any significant positive impact on overall credit to the sector but has deeply dented their exports. The credit disbursal to the MSME sector has, however recovered a tad since the lows of 2017 to reach the mid-2015 […]
Both demonetisation and GST have affected India’s gross domestic product (GDP) growth adversely, former Prime Minister Manmohan Singh said on Monday. “Both demonetisation and GST have had some impact on GDP,” Manmohan Singh, who has earlier said the Indian economy has been running on only “one engine” of public spending, told CNBC-TV18 channel. “Both would affect the informal sector, the small scale sector that are responsible for 40% of GDP… […]
With the 50-day deadline for the exchange of demonetised notes drawing near, Prime Minister Narendra Modi on Tuesday said his “fight” against black money and corruption would continue unabated. “Through the note ban, in one stroke, we destroyed the world of terrorism, drug mafia, human trafficking and underworld,” he said, addressing a ‘Parivartan Maha Rally’ here. Indebted to people for support: Modi Acknowledging that people had undergone “immense” trouble due […]
The maid who cooks for us seemed bemused, as if she could not make up her mind whether to be sad or happy. A little coaxing brought out the story. Her young married daughter had come to her distraught. She had been squirrelling away little bits from what her husband gave her every month to run the household. Over the last few years this had become what, to her, was […]
Pronab Sen, the government’s former chief statistician, says contrary to perception, GDP growth won’t be drastically hit in the present quarter. While popular perception is that the demonetisation effect would drastically reduce economic growth in the ongoing quarter and by a bit in the next one, Pronab Sen, the government’s former chief statistician, tells Indivjal Dhasmana it will be the other way round. Various estimates say growth in gross domestic […]
