Scarcity of new Rs 500 notes was due to the fact that final decision to print large volumes was only taken after Nov 8.
The decision was originally supposed to have been announced on Nov 18, but PM Modi preponed it due to leak of the Rs 2,000 note.
By now it is amply clear that the process of remonetising India is going to be long drawn out and may not bring back the entire Rs 15.44 lakh crore of junked currency.
Tragically, it is the ultimate betrayal of Prime Minister Narendra Modi by our bankers.
Budget 2017 would do well to cut the personal and corporate income tax rate to 25 per cent, further moderate the proposed goods and services tax rates.
Commerce Minister Nirmala Sitharaman says all the two lakh ATMs in the country will be functional soon.
Prabhu says the government may now step up spending in the Budget to spur demand.
Prabhu says government needs to continue filling in the gaps in spending.
Paytm 's customer base has gone up from 115 million to 150 million subscribers in the last 3-4 days.
Says licenses could have been cancelled but for consumer inconvenience