With not so encouraging response from its Income Declaration Scheme, 2016, which could unearth just about 0.5% of GDP, the government came out with a surprise policy of discontinuing Rs 500 and Rs 1000 notes from circulation. As the government is determined to curb terrorism financing, counterfeiting as well ...

The demonetization of Rs 500 and Rs 1000 amounts to a significant monetary tightening especially for the informal sector and is likely to affect production and economic activity in this quarter. Rs 500 notes constitute the bulk of the currency used for transactions in the Indian economy. Along with Rs ...