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Demonetisation checked growth of high value notes, says PM Office
“Decreased proportion of HDN in the economy helps thwart corruption and funding of terrorism,” the PMO said in a tweet. It said, “The estimated value of high denomination notes at the end of September 2017 is approx Rs 12 lakh crore. Without demonetisation, the values of HDN would have been around Rs 18 lakh crore today.”
The PMO tweet further said that “0.00011 per cent of India’s population deposited almost 33 per cent of the total cash in country”.As per the Reserve Bank data, Rs 15.28 lakh crore or 99 per cent of the demonetised currency was returned, leaving only about Rs 16,000 crore outside the banking system.
Everyone looks forward to weekends for the simple reason that they get to relax, unwind and recharge themselves for another hectic workweek. But not the Maharashtra Govt. Atleast not this weekend. In between Friday night and Saturday early morning, our State Govt proved to us that if they put their minds to getting something done, they will; even if it involves staying up post their working hours. Hail Politics and Self - Interest! I guess it's pretty apparent by now what this writeup is going to be about. But no. I won't bore you with that anymore. Instead, I'll include a few links to help you catch up:
Two years ago my teacher sent the entire class on an assignment as part of our Principles of Marketing subject in which we had to visit different retail outlets and check which company manufactured them. I remember going to one such place with 3 other class mates, with Note Pad open in our phones and discreetly clicking pictures of all HUL products. It sort of felt weird at first because we had never done the picture clicking part before, but slowly got used to it as soon as we realized that the line of HUL products was just never ending. We submitted the assignment the next day and that was the end of the story. But just yesterday, I opened the HUL website again as part of my semester VI Logistics subject assignment (yes I do get homework even in TY!). I was surprised by the products that I saw.