New Delhi: The fall in sugar sales following nationwide lockdown to control coronavirus has precipitated a cash crisis in the sugar industry, for which the...
Gandhi also criticised Modi for his silence on the banking frauds allegedly committed by the diamond merchants who have fled the country.
More than 22,000 government employees are yet to get their salary for the month of March, even as the Finance Department authorities are working hard to fix the glitch.
"Demonetization was too coarse an approach, and it accomplished too little while causing too much collateral damage," said former Chief Economic Adviser Basu.
"This (demonetisation) has proved to be one of the most disruptive experiments in recent economic history, and one from which Modi's administration now risks learning all the wrong lessons," wrote author James Crabtree.
The long-term impact of this move on the Indian economy and the banking sector is uncertain, SBI told institutional investors prior to its Rs 15,000 crore share sale through private placement.
"Volume of all digital transactions increased by about 23 times with 63,80,000 digital transactions for a value of Rs 2,425 crore in March 2017, compared to 2,80,000 digital transactions worth Rs 101 crore till November 2016," Niti Aayog said in a statement.
Even many eligible claimants failed to reach the bank counters as they could not produce the required documents.
While lifting of ATM withdrawal limits represents coming full circle for these machines in respect of demonetisation, the return to normalcy in terms of cash available in them is still awaited, indicating the slow pace of remonetisation.
The daily limit of withdrawal from ATMs has been increased with effect from January 1, 2017, from the existing Rs 2,500 to Rs 4,500 per day per card said the central bank.
The November 8 move to spike the Rs 500 and Rs 1,000 notes had damaged the Indian economy, future investment and was also an assault on the privacy of common man life by inflicting more state control.