Enter your Email Address to subscribe to our newsletters
Now, the implication of the word ' any ' in the Act in the Demonetization Judgement is debated by many.
Read More
The Anti-drug cell of Imphal East Police busted a fake currency racket at Urup Kangthak village and Keirao village area, said officials on Thursday (Aug 25). Two persons have been arrested in the matter.
Confused RaGa juggles between monetization & demonetization; says, 'rise in GDP means hike in gas, fuel'
It's not quite demonetisation but the Reserve Bank of India looks like it is phasing out the Rs 2000 currency note if cues available in its annual report 2019-20, released on Tuesday, are any indication. The annual report said the Rs 2000 denomination note, introduced during demonetisation in 2016, was not printed at all during 2019-2020.
"We strive keeping balance amongst the various layers of the economy while setting or implementing the reforms", professed Finance Minister Nirmala Sitharaman while addressing the delegates at the Indian Economic Conclave 2019 in the national capital, further adding that the business inputs were to aid everybody aligned in the formal sectors.
On November 8, 2016, the Government of India in a landmark move, discontinued from circulation, ₹500 and ₹1000 denomination currency notes; they were no longer deemed legal tender.
Breaking down the thread of corruption and acting strong against the dishonest persons involved in under the table transactions, the Pune police in Maharashtra has moved up arresting three people from Shirur, recovering demonetised currency notes with the face value of Rs 1,00,26,000 from their possession.
The initiative of #DigitalIndia achieved another landmark in December, 2018. The BHIM app launched by government crossed total value of Rs. One lakh crore in UPI based transitions.
India's economy continues on a robust growth path, the Asian Development Bank (ADB) said Wednesday while maintaining the growth forecast for the current fiscal at 7.3%.
Demonetization has been a boon for the country as the influx of fake currency has dipped considerably. DG of BSF K K Sharma said that following demonetization, there has been a drop in fake currency influx through the Indo-Bangladesh border. He also lauded Bangladesh for taking steps to prevent smuggling and influx of such fake currency notes.
The Reserve Bank of India on Wednesday said that over 99 percent of the old 500 and 1,000 rupee notes that were banned by Prime Minister Narendra Modi in November 2016 have been returned. Notably, with an aim to eradicate corruption, terrorism and other anti-national activities from the country, PM Modi on November 8, 2016 announced demonetization i.e ban on 500 and 1000 rupees notes.
Over Rs 29.41 crore was spent on using the services of Indian Air Force to the newly-issued Rs 2,000 and Rs 500 currency notes post-demonetization. According to an RTI reply, over Rs 29.41 crore was spent on using the Indian Air Force's ultra-modern transport aircraft including C-17 and the C-130J Super Hercules for the transportation of the newly-issued Rs 2,000 and Rs 500 currency notes post-demonetization.
The short-term impact of implementation of demonetization and GST in the year 2016 and 2017 is on the brink of conclusion as Indian economy is all set to grow by 7.4 percent in the fiscal year 2018 and 2019. Notably, the forecast of International Monetary Fund (IMF) said that India will grow by 7.4 percent in the fiscal year 2018 and 2019.
Don’t worry people 2000 Rs note will not discontinue, it will be legal in circulation and also there are no plans of government to withdraw them. This was clarified in Lok Sabha today by the MoS of finance P. Radhakrishnan.
Commenting that India needs to durably recover from two lagging engines of growth which are– private investments and exports, the World Bank has said that Indian economy can achieve a growth rate of 8 percent and higher on a continuing basis.
Demonetization was the biggest and boldest step taken by PM Modi led central government with an aim to curb corruption, black money etc. However, the step has proved to be worth as after demonetization, the Income Tax department has unearthed undisclosed income of Rs 7,961 crore from November last year to March.
My Maliks are the 125 crore and I am accountable to them for every moment of my time because they have placed their faith in me. This was said by Prime Minister Narendra Modi on Thursday at a public meeting in Surat, Gujarat.
Indians definitely understand the same and voted Prime Minister Narendra Modi to power with absolute majority. Their trust in government is paying off. One must remember the common citizen of India doesn’t go thru the reports and rankings of different international organisations but goes by the experience.
The topmost priority of Indian government was to create corruption-free, citizen-centric and development-friendly ecosystem in the country. This was said by Prime Minister Narendra Modi on Thursday while addressing at the inaugural session of the 15th edition of the Hindustan Times Leadership Summit.
The Income Tax Department has slapped notices on 1.16 lakh individuals and firms who made cash deposits of more than Rs 25 lakh in bank accounts post note ban but failed to file returns by the due date, CBDT Chairman Sushil Chandra said.
The hidden aim of eradicating black money behind demonetization has now caught the track again. After almost one year of demonetization the fight against the black money is still on. Fake currencies worth Rs 3 lakhs were captured in Assam on Monday. Along with this a printer, 17 colour cartridges, various colours and other materials used to produce fake currencies were also captured.
When demonetization was announced, preventing terror funding was one of the prime goals behind the decision. As National Investigation Agency (NIA) has seized demonetized currency worth Rs 36.3 crore in Jammu and Kashmir (J&K) terror funding case, again it has been proved why the move was necessary. Nine persons have also been arrested in the case.
Post demonetization, so far at least 2.24 lakh companies have been struck-off for remaining inactive for a period of two (2) years or more. Interestingly, Prime Minister Narendra Modi led central government took a massive and decision of ‘demonetization’ that nearly shook up all the corrupted ones and corruption too. The move was taken only with an aim to curb the corruption in the country with the guaranteed positive results. Though the opposition, political parties opposed centre’s decision severely, the
When Prime Minister Narendra Modi appealed the Indians to go digital and use less-cash mode for daily transactions, he was challenged by political pundits and some specific political parties opposed him in the name of common man. But that common man silently accepted the fact that cash is crime; and started using cashless modes. The recent reports are saying that the Digital transactions hiked by 70 % in a year.
Appreciating the path-breaking decision of demonetization, State Bank of India Chief Rajnish Kumar said that Centre's historic move has given a major boost for the banking sector. Speaking to the media Kumar mentioned that reforms like GST and demonetization would fine-tune the financial health of the country.
Indian polity in modern India was seen celebrating the dawn of an unprecedented era, commencing efforts anew of rebuilding the Indian nation and a new Indian society in May 2014. A peaceful and a quiet bloodless revolution took place. It was not a mere transfer of power from a defeated party to the victorious one, it dawned as a harbinger signaling the restoration of the forgotten glory of a golden era calling for its resurrection. The victory was the culmination of a long drawn labour of several thousand s
In a befitting response to non-BJP opposition parties plan to observe November 8 as ‘Black Day’, the BJP will be observing the day as ‘anti-black money day’.
Six opposition parties yesterday held a meeting in National capital to chalk out a strategy to counter the government over the fallout of demonetisation. The meeting held at senior Congress leader Ghulam Nabi Azad's office was attended by TMC leader Derek O Brien, rebel JD(U) leader Sharad Yadav, Satish Chandra Mishra of BSP, Kanimozhi of DMK and CPI leader D Raja.
The suppression against black money has been sharpened by the government. Under the revamped Companies Act, the identified shell companies will be facing criminal action. The companies have already been struck off the Registrar of Companies earlier this year.
India has the potential to grow at a reasonably high level in the next decade or two, owing to some structural changes by the government and a turnaround in the global economy and whole environment of doing business has changed in a matter of months due to demonetization and GST. This was said by Finance Minister Arun Jaitley at an event organized by the US-India Strategic and Partnership Forum on Friday in Washington, US.
The economy of India is poised for strong, sustainable and balanced growth backed by the Government strong focus on implementing structural reforms. This was said by Finance Minister Arun Jaitley on Friday in an interactive seminar organized by FICCI on “India Opportunity” in Washington, US.
Since last year Government of India is putting great effort to stop illegal transactions, black money, shell companies. Against this backdrop, it is significantly important that Government of India ha received vital information from 13 Banks regarding the bank account operations and post-demonetization transactions of some of the 2,09,032 suspicious companies. The companies have already been struck off the Register of Companies earlier this year.
The World Bank said that India's economic slowdown was an aberration, as it assured that GDP growth will stabilise during the year. Saying that GST will have 'hugely positive impact on the economy', World Bank President Jim Yong Kim added that the deceleration was due to temporary disruptions in preparation for the GST.
Prime Minister Narendra Modi presented the factsheet of India’s current position in the economy after demonetization and said that it is a silent but effective crackdown on ‘Black Money’. Notably, the Prime Minister Narendra Modi while addressing Company Secretaries at the inauguration of the Golden Jubilee Year of ICSI – the Institute of Company Secretaries of India said at least 2.1 lakh shell companies have been deregistered post demonetization which is a silent but effective crackdown on ‘Black Money’.
Railway authority on Wednesday announced that the service charge exemption will be continued until March 2018 on the tickets booked online. Indian Railway Passengers will get a relief with a decision of railway board.
While addressing at Conclave on Financial Inclusion by United Nations in New Delhi, Finance Minister Arun Jaitley mentioned how Pradhan Mantri Jan Dhan Yojana has played a significant role in India’s financial inclusion sector. The scheme was not merely a half-hearted one with improper implementation but with a prominent goal. He also mentioned demonetization, the volume of cash has been reduced and tax base witnessed an increase.
