https://www.taxtmi.com/news?id=17178 Remonetisation has led to widespread replacement of pre-November 8 currency, with the RBI providing sufficient liquidity and banks and post offices distributing new notes to restore circulation. Resulting higher bank deposits have expanded banks' lending capacity. Fiscal receipts show growth: direct tax collections increased around 13.6-14.4 percent to December 19, and central indirect taxes rose about 26.2 percent to November 30 (excise ~43.5%, service tax ~25.7%, customs ~5.6%). Other indicators-rabi sowing, life insurance business, tourism, air traffic, petroleum consumption, and mutual fund inflows-have also risen. en-us Thu, 29 Dec 2016 17:52:01 +0530 Thu, 29 Dec 2016 17:52:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17178 Remonetisation has led to widespread replacement of pre-November 8 currency, with the RBI providing sufficient liquidity and banks and post offices distributing new notes to restore circulation. Resulting higher bank deposits have expanded banks' lending capacity. Fiscal receipts show growth: direct tax collections increased around 13.6-14.4 percent to December 19, and central indirect taxes rose about 26.2 percent to November 30 (excise ~43.5%, service tax ~25.7%, customs ~5.6%). Other indicators-rabi sowing, life insurance business, tourism, air traffic, petroleum consumption, and mutual fund inflows-have also risen. News - Thu, 29 Dec 2016 17:52:01 +0530 https://www.taxtmi.com/news?id=17178