Demonetisation and its impact on India’s economy have been discussed in detail since 8 November, the day PM Modi made the shock announcement by invalidating over 80 percent of Indian currency. Based on their political affiliations, economists have differed widely on the impact of this step but mo…
Tag: Demonetisation
Demonetisation: UP MSMEs bracing up for ‘less-cash’ biz environment
In the backdrop of demonetisation and its after effects still playing out for different sectors — the Micro, Small and Medium Enterprises (MSME) — in Uttar Pradesh are now bracing for a less-cash’ and more ‘digital’ business environment being talked about by the Narendra Modi g…
Demonetisation Effect: Agra leather industry facing hard times
The leather industry in city has been hit hard by the government’s sudden withdrawal of high-value currency with labourers not getting their wages and manufacturers having no money to buy raw material. Prime Minister Narendra Modi dropped a bombshell on November 8 by abolishing Rs. 500 and Rs. …
Demonetisation Effect: Manufacturing sector gets no relief
About 30,000 units manufacturing auto mobile spare parts and about the same number of agro based industrial units have shut shop post-demonetisation with orders drying up. About 1.5 lakh MSME units (all segments) lined up along Jeedimetla, Balanagar, Shahpur, Maheswaram, Adibatla, Quthbullapur, D…
Greater Noida Plastic Molding MSMEs envisage greater collaboration for a better tomorrow
The Indian Plastic industry has grown and diversified rapidly. The industry spans the country and as per market estimates, the industry employs about 4 million people and comprises more than 30,000 processing units out of which about 85% are small and medium-sized enterprises. On December 17, as …
Demonetisation: Textile industry extends support for cashless economy
The textile industry has expressed solidarity with the Centre’s goal to promote India as a cashless economy. Supporting the decision, representatives of the textile industry across the country are encouraging the workers to open bank accounts. As a result, salary payment will be done either throu…
How India’s Demonetisation is affecting its start-ups
On November 8, Prime Minister Narendra Modi made a televised announcement on the government’s decision to withdraw 500 and 1000 rupee notes that were in circulation in the Indian economy. This huge gamble on notes that accounted for 86% of the value of currency in circulation left a majority of c…
Demonetisation: Weavers find the going tough
Andhra Pradesh: Konapaka Rajeswari from Desaipeta near Chirala knows nothing but weaving since her childhood. The government’s demonetisation drive has now come as a big blow to Rajeswari and other weavers producing beautiful saries. “I, my mother, and father used to work all day and earn up to R…
Cash shortage will end by mid-Jan 2017: Amitabh Kant
New Delhi, December 16, 2016: The government declared that the cash shortage induced by demonetisation of high value currency notes would end by mid-January by which time about Rs. 3 trillion of black money would be sucked out of the economy, leaving about Rs.12 trillion in cash to finance normal…
Demonetisation: Measures to provide relief to Powerloom industry
Immediately after the demonetisation initiative, a quick survey of Powerloom units was undertaken in major Powerloom clusters to assess the impact on the decentralised Powerloom Sector. To address the issues of shortage of new currency, Government has initiated immediate action to enable cashless…