If the government is to be believed, demonetisation has not been a failure, despite the return of 99 per cent of the banned notes. They still claim it has been a success. Finance Minister Arun Jaitley, speaking on the day the Reserve Bank of India or RBI released data showing only 1 per cent of the cash did not end up with the banks, said, “The real objects of demonetisation […]

The biggest tax reform in decades – the national Goods and Services Tax or GST – has been thoroughly jeopardized by the centre’s abrupt demonetization drive, said Amit Mitra today. As the Finance Minister of West Bengal, Mr Mitra is on the GST Council, which is drafting the rate and scope of the tax. He told NDTV that the April rollout of the tax seems unfeasible now and he will […]