Breaking News

You are here » Indian-Commodity  :  Economy  :  Effects of demonetization to be clearer towards end of current fiscal: TCA Anant

15-Jun2017

Effects of demonetization to be clearer towards end of current fiscal: TCA Anant

Amid ongoing debate over demonetization impact on the economy, the Chief Statistician of the government, TCA Anant has said that effects of demonetization will be clearer towards end of the current fiscal after data from the government and company accounts come in. He also mentioned that the short term figures could not assess these impacts and as statistician, he will need to see the trajectories and work out the analysis.

Anant further said that even if the move has affected the economy at multiple levels, it should not be seen just from the perspective of cash replacement as it has also benefited in many ways to the country and added that the note ban has improved digital transactions and tax collection. He noted that the overall trajectory of growth post-November to pre-November has seen a distinct structural break.

On the upcoming Goods and Services Tax (GST) regime, Anant said that it would improve the quality of the statistical data as it would plug leakages in the sales tax regime and so improvement in quality of measurement along with the linkage with informal activity will actually make GDP compilation better.


Related News

View all news

Jaitley makes case for blending subsidy with investment to augment agri sector growth

In order to boost farm sector growth and make it sustainable and self-sufficient, Finance Minister Arun Jaitley made a case for blending subsidy with investment. He said formalisation of the economy has......

States likely to miss debt-to-GDP ratio target of 20% by FY23: Ind-Ra

The India Ratings and Research (Ind-Ra), a subsidiary of Fitch Ratings, has warmed that the states are likely to miss the 20% debt-to-GDP ratio target by fiscal year 2022-23 (FY23) as most of them have......

Merger of public sector banks to improve efficiency, governance: Moody's

A day after the government proposed to merge three public sector banks, global credit rating agency, Moody's Investors Service has said that merger of Bank of Baroda, Vijaya Bank and Dena Bank will be......

Top News

View all news

TCS iON enters into strategic business partnership with The Training Room

Tata Consultancy Services' (TCS) strategic business unit TCS iON has entered into a strategic business partnership with The Training Room, a leading UK provider of technical training courses and careers......

IGL plans to add 60 CNG stations, give 2 lakh connections in FY19

Indraprastha Gas (IGL) is planning to add a record 60 CNG dispensing stations and give piped cooking gas connections to at least 2 lakh households this fiscal as it steps up efforts to achieve the government's......

RCF to begin work on coal gasification based fertilizer plant at Talcher: Report

Rashtriya Chemicals and Fertilizers (RCF) will reportedly commence work on the coal gasification based fertilizer plant at Talcher in state of Odisha. The company has got approval for equity investment......