Breaking News

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


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

Micro-finance institutions' asset quality stabilizes: Crisil Ratings

Credit ratings agency, Crisil Ratings in its latest report has said that asset quality of micro-finance institutions (MFIs) comprising small finance banks as well as non-bank MFIs has shrugged off the......

RBI's new NPA norms likely to push up banks' credit costs, weaken earnings: Fitch Ratings

Fitch Ratings in its latest report has stated that the Reserve Bank of India's (RBI) new norms for overhauling the mechanism to deal with the bad debt, is likely to push up banks' credit costs and weaken......

India will emerge as model for rest of world on completing transitions: Rajiv Kumar

With successful completion of three transitions such as economic, political and social, the Niti Aayog vice-chairman Rajiv Kumar has said India will emerge as a model for the rest of the world. ......

Top News

View all news

Sadbhav Infrastructure emerges lowest bidder for Vadodara Kim Expressway Project

Sadbhav Infrastructure has been declared L-1 (Lowest) bidder by the National Highways Authority of India (NHAI) for new Hybrid Annuity Project in the State of Gujarat.The Project is for the construction......

Tribhovandas Bhimji Zaveri opens 37th store in Pune

Tribhovandas Bhimji Zaveri has opened its 37th store at Unit No. UG-71, Phoenix Market City Mall, Viman Nagar, Pune, in state of Maharashtra on March 17, 2018.Tribhovandas Bhimji Zaveri, a well-known jewellery......

DHFL planning to raise funds through NCDs

Dewan Housing Finance Corporation (DHFL) is planning to raise funds through Non-Convertible Debentures (NCDs). The company has proposed to issue Secured Redeemable NCDs amounting to Rs 300 crore and a......