Current Trends in Indian Economy Six years since demonetisation, cash with public at record high of ₹30.88 lakh crore As per the fortnightly data on money supply released by the RBI the currency with the public increased to ₹30.88 lakh crore as on October 21. The central bank data for Reserve Money had put the currency in circulation at ₹17.7 lakh crore on November 4, 2016. ₹30.88 lakh crore with the public illustrates that cash usage is still robust even six years after the demonetisation move. At ₹30.88 lakh crore, the currency with the public is 71.84% higher than the level for the fortnight ended November 4, 2016. On November 8, 2016, Prime Minister Narendra Modi had announced the decision to withdraw ₹500 and ₹1,000 denomination notes with the ultimate aim of reducing corruption and black money in the economy. The intent of the move, which was criticised by many experts for poor planning and execution, was to make India a "less cash" economy. Reports and Indices UNDP Report: Social, Economic Benefits of a Global Green Revolution at Risk The report titled “How Just Transition Can Deliver the Paris Agreement,”released by the United Nations Development Programme (UNDP) states that the nations fail to recognize the opportunities given by a “green revolution” face increased social inequality, civil unrest, and less competitive economy if suggested net-zero emissions paths are not carried out efficiently. The concept of a “just transition” is critical to fulfilling the Paris Agreement’s global climate targets as countries transition to sustainable economies. Note: A Just Transition means ensuring efficient and coherent climate change mitigation and adaptation policies and regulations that limit labour market disruptions and job losses and support for workers and companies impacted by the transition. The report was released in advance of the UNFCCC (UN Climate Change)…
Indian economy will moderate GDP growth: D&B report
Indian economy, GDP The coronavirus pandemic is a "severe demand shock" for the Indian economy and could lead to further moderation in the country's GDP growth as the coronavirus-induced lockdown is causing significant disruption across multiple sectors. According to Dun & Bradstreet, besides the impact on human lives and the global supply chain, the pandemic is a severe demand shock which has offset the green shoots of recovery of the Indian economy that were visible towards the end of 2019 and early 2020. Accordingly, Dun & Bradstreet has revised its Gross Domestic Product (GDP) estimates for India downwards by 0.2 percentage points for fiscal year 2020 to 4.8 percent and by 0.5 percent for the fiscal year 2021 to 6 percent.
