
"We had an idea that the bulk of the money would come back but the present 99 percent is a surprise for most of us", he said.
India's finance ministry says it is probing 1.8 million bank accounts where cash inflows during the demonetization period "did not appear in line with its tax profile", meaning it can expect some belated tax payments.
A raft of economic data since the note ban decision have signalled that $2 trillion economy was hurt by the cash clampdown, raising fears that the economic growth would stall.
Sharma also asked the government to release manufacturing and IIP numbers as per old and new series.
Indian Prime Minister Narendra Modi plans to reshuffle his cabinet over the next two days and some mid-level ministers have offered to quit to pave the way for changes, sources in the party and aides to the ministers said.
Jaitley questioned the knowledge on black money and its relation with the demonetised currency adding that the demonetisation's objective was also to create a digital economy and India was moving in the right direction.
The idea was to make it hard for hoarders of undeclared wealth, known in India as "black money", to exchange their undeclared cash for legal tender.
Qantas is ditching Dubai for flights to London
The alliance is conditional on Australian Competition and Consumer Commission (ACCC) approval. The second Singapore -Sydney daily service will continue to be operated by an A330 aircraft.
Congress leader Anand Sharma on Thursday hit out at the Narendra Modi government over demonetisation, demanding the Centre to come out with a white paper on the economy, ANI reported. "So more tax payers, bigger tax base, both in direct and indirect tax, more digitisation, lesser cash in the system, integration of the formal with the informal economy. The economist deserves a Nobel Prize!" On the Goods and Services Tax (GST), Jaitley said its inflationary impact has been avoided and there is a scope of convergence of tax rates going forward. The old notes were allowed to be deposited in banks, with unusual deposits coming under income tax scrutiny.
But according to the RBI report, Rs 15.28 lakh crore out of the Rs 15.44 lakh crore in the currency that was ceased to be legal tender on November 8, 2016, has come back into the Indian banking system. "The Reserve Bank figures yesterday exposed the falsehood propagated by the government", he said. Instead of that new Rs, 2000 notes rolled out into the market.
However, at that time when people on the streets were complaining about the difficulties they were facing due to cash crunch in the wake of scrapping of Rs 500 and Rs 1,000 currency notes by Modi regime, Singh chose to come out from his self-imposed exile and spoke eloquently on the subject.
"Some people had expected a very large shock to economic growth on account of demonetisation", the statement read. "Now the prime minister should explain where is that black money", he said.
The RBI annual report said that "subject to future corrections based on verification process when completed, " the estimated value of the banned notes it "received" was Rs15,28,000 crore.
Pointing to the government's claim that demonetisation would be an assault on finances of terrorists and Maoists, he said post-demonetisation there were 36 major terror incidents in Jammu and Kashmir alone and 58 Army personnel and 36 civilians lost their lives.
Interestingly, RBI's annual report shows a spike in the number of so-called suspicious transaction reports filed by banks, financial institutions and intermediaries.
Nashville Statement: Conservative Christians Release Manifesto Of Hate
He added, "We are pleased to offer this statement as a faithful expression of Christian conviction in a secular age". One of the most discussed elements of the Nashville Statement among evangelicals is something called Article 10.
Lenovo's Mixed Reality Headset Is Called The Explorer
Among the few it mentioned, Windows Story Remix will allow users automatically turn a collage of images into a cohesive narrative. Terry Myerson , head of the Windows group at Microsoft , promised that this fourth update to Windows 10 would be the best yet.
CC Sabathia fired up in Yankees' victory over Red Sox
NOTES: Toronto 1B Justin Smoak (calf) sat out, and 3B Josh Donaldson also did not play, just to give him a day off. Using a sharp slider, Sabathia struck out six. "I think it's who he is and what's made him so great for so long".
Buhari Congratulates 'Impressive' Super Eagles
Things only got worse when Iheanacho sent Nigeria leading with his 77 minute goal , making it four goals to nothing. Nigeria travel to Youande for the fourth group game against Cameroon which will be played on Monday, September 4.
Chelsea Target Fernando Llorente Pulls On Tottenham Shirt
Spurs have reportedly spent £12.1 million for the 32-year-old Llorente and is having his medical examination done today. However, they are now willing to do business with Wilfried Bony linked with a return to the Liberty Stadium.
Thomas Lemar Breaks Silence After Failed Arsenal Move
Wenger declared a deal for Lemar "dead" earlier this month . "I was focused on my game, that's all that mattered to me". Lemar scored twice for France in their 4-0 thrashing of Holland in a 2018 World Cup qualifier on Thursday night.
Pressure mounts on Trump to keep migrant amnesty
Their letter argues that Dreamers play a vital role in the USA economy and help ensure U.S. competitiveness. More than 17,000 are eligible, according to data from the Migration Policy Institute.
'The Hurricane Harvey effect:' storm behind gas price hikes
The cheapest local listing remains Costco at 4411 Walker Rd., selling regular gas at 113.9 cents as of 10:30 a.m. Across Canada, gas prices are up an average of 9.5 cents compared with last week.
Mexico sees risk in talks as U.S. hints at abandoning NAFTA
President, Finland would never have signed NAFTA with Russian Federation or whoever you wanted to". Trump then turned to Niinistö and said, "I guarantee you, Mr.
Trump blasts Comey's exoneration of Clinton as part of a 'rigged system'
Comey's announcement, saying they've reviewed partially redacted interview transcripts that indicate Mr. The letter blasted Comey for the premature drafting of the letter before the investigation concluded.
Former Villanova Basketball Coach Rollie Massimino Dies at Age 82
Villanova posted 10 seasons of 20 victories or more in Massimino's tenure and he was the 1982 BIG EAST Coach of the Year. Each of the players recruited to Villanova by Massimino who spent four years in the program earned his degree.
Ogun Hajj Board Denies Death Of Pilgrims
Confirming this development, the Commissioner in Charge of health, National Hajj Commission of Nigeria, NAHCON, Dr. On Friday, they will move on to Mina before sunrise for the hajj ritual of the symbolic "Stoning of the Devil".
Celtics, Cavaliers reach agreement on Kyrie Irving, Isaiah Thomas trade
Celtics General Manager, Danny Ainge had seen talents like Paul George , Jimmy Butler and Chris Paul pass on by to other teams. So who won the trade? Irving is exactly the type of player the Celtics need, a proven playoff performer and a victor .
Thomas Lemar scores stunner for France against Netherlands
Despite being a popular player around Liverpool , his relationship with the club has soured in recent weeks. Therefore, Coutinho is a viable target for Barcelona , who can be a long-term solution at Camp Nou.
Mueller reportedly working with top Trump foe, could end-run presidential pardon
The sources told NBC News that prosecutors want to know what Trump knew about the meeting and whether he sought to hide its goal . The president has repeatedly called it a "witch hunt", has denied any collusion with Moscow and has been critical of Mueller.