Indian banknote demonetisation Current Affairs, GK & News

Fifth anniversary of Demonetisation- Economic impacts

India is observing the fifth anniversary of demonetisation on November 8, 2021. Demonetisation was announced by Prime Minister Narendra Modi in 2016. Background With this move, Rs 500 and Rs 1,000 currency notes were withdrawn as a legal tender across the country. This move was aimed at eliminating black money. What is Demonetisation? Demonetisation is ..

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8.80 Million turns out to be ‘stop filers’ in Demonetisation year

Income Tax Returns have seen a upward surge in tax compliance aftermath of demonetisation and GST introduction. However according to a report, around 8.80 million taxpayers turned out to be ‘stop filers’ i.e. those who did not file tax returns in a given year despite doing so in the financial year 2016-17, the year when ..

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World Bank projects India’s growth rate at 7.3% for 2019 and 7.5% for 2020

The World Bank has projected India’s growth rate at 7.3% for 2019 and 7.5% for 2020. The bank also noted that Indian economy has recovered from the effects of demonetisation and the Goods and Services Tax (GST). The World Bank in its twice-a-year South Asia Economic Focus report in Washington stated that growth is expected ..

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India’s GDP growth rate forecast for year 2018 is 7.6%

Moody’s Investors Service has recently estimated India’s GDP growth forecast for year 2018 & 2019. In it, it has kept the GDP growth forecast for India in the calendar year 2018 unchanged at 7.6 % and for 2019 at 7.5 %, amid signs of economic recovery from the negative impact of demonetisation and disruption caused ..

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CII: India’s growth rate to fall due to demonetisation

India’s economic growth is slated to fall significantly in the second half of the current fiscal due to cash crunch spread by demonetisation. The consumer goods section has also seen significant drop in sales to the tune of 20 percent. The government had scrapped the high-value currency notes of Rs. 500 and Rs. 1000 in ..

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