Decoding arvind subramanian's stand on demonetization: did ex-cea ever support note-ban?

Dnaindia

Decoding arvind subramanian's stand on demonetization: did ex-cea ever support note-ban?"


Play all audios:

Loading...

8.Demonetization was a necessary radical, historic decision with profound impact on the India Economy: Economic Survey 2016-17 The Economic Survey 2016-17 was tabled in Parliament on January


31, 2017, nearly 3 months after demonetization was announced. The survey authored by a team led by Surbramanian said demonetization resulted in widening of taxpayers' base and rise in


household saving. The survey argueed that the move was indeed a necessary “radical”, historic” decision with “profound” impact on the India Economy. “India’s demonetization is unprecedented


in international economic history, in that it combined secrecy and suddenness amidst normal economic and political conditions,” it said. “In fact, India has given a whole new expression to


unconventional monetary policy, with the difference that whereas advanced economies have focused on expanding the money supply, India’s demonetization has reduced it. This policy could be


considered a “reverse helicopter drop”, or perhaps more accurately a “helicopter hoover." "Taking seasonality into account it is found that there is a 0.8 per cent monthly trend


increase in new tax filers (annual growth of nearly 10 per cent). The level of tax filers by November 2017 was 31 per cent greater than what this trend would suggest, a statistically


significant difference," said the Economic Survey 2017-18 released by the government said. "This translates roughly into about 18 lakh (1.8 million) additional taxpayers due to


demonetization-cum-GST, representing 3 per cent of existing taxpayers." Besides, the survey said one of the main aims of demonetization and the Goods and Services Tax (GST) was to


increase the formalisation of the economy and bring more Indians into the income tax net, which includes only about 5.93 crore individual taxpayers (filers and those whose tax is deducted at


source in 2015-16). (Photo: PTI)


Trending News

Caitlin Clark’s Probable Olympics Snub Draws Outrage From Sports Pundits

Greg Fiume/Getty Images The reactions to news that No. 1 WNBA draft choice and NCAA all-time scoring leader Caitlin Clar...

Motional Fock states for quantum-enhanced amplitude and phase measurements with trapped ions

Download PDF Article Open access Published: 02 July 2019 Motional Fock states for quantum-enhanced amplitude and phase m...

Neville delighted with clean sheet

Valencia coach Gary Neville was thrilled with his side's clean sheet in their 4-0 thrashing of Granada in the Copa ...

Fox settles nearly 20 workplace discrimination claims

21st Century Fox has settled racial and gender discrimination lawsuits involving 18 current and former employees for abo...

Meet IIT dropout, who wrote his first program at 6, later built multi-crore business; know his success story

Ankit established "Bobble AI" with his older brother Rahul Prasad in 2015, which produced the "Bobble Indic" keyboard.Wh...

Latests News

Decoding arvind subramanian's stand on demonetization: did ex-cea ever support note-ban?

8.Demonetization was a necessary radical, historic decision with profound impact on the India Economy: Economic Survey 2...

Alabama's special election polls stink, and that's a good thing

I have some bad news for all those who hoped the polling industry would improve after the disastrous results of the 2016...

Short day length-induced decrease of cesium uptake without altering potassium uptake manner in poplar

ABSTRACT Short day length-induced alteration of potassium (K) localization in perennial trees is believed to be a mechan...

Stocks close mixed, ending a dismal august

Stocks ended mixed Tuesday after the Fed released minutes from its last meeting saying the economy would have to get muc...

Food waste collection service to rollout through bega valley in 2018

Essentially anything that once lived will be able to go in your FOGO bin. Garden waste including trimmings, clippings an...

Top