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Home » Business & Economy » Bleak outlook: Note ban likely to cost India Rs 1,28,400 crore
 

Bleak outlook: Note ban likely to cost India Rs 1,28,400 crore

Sourjya Bhowmick | Updated on: 10 February 2017, 1:37 IST
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CMIE estimates Indian economy will lose Rs 1,28,400 crore due to the note ban. Here's the break-up
Printing, transporting, distributing new notes alone will cost nearly Rs 4,50,00 crore

While the social cost of demonetisation has been fairly widely documented, the economic cost has largely been a matter of estimation. Now, however, the Centre for Monitoring Indian Economy, a business information company, has done the math after compiling a series of analyses.

And the scenario it presents looks bleak: at the very least the exercise will cost the country Rs 1,28,400 crore. Consider these numbers.

First published: 25 November 2016, 9:02 IST
Narendra Modi demonitisation BJP ATM bank Note ban GDP Centre for Monitoring Indian Economy CMIE note printing toll plaza consumer demand wage loss
 
Sourjya Bhowmick @sourjyabhowmick

Born and raised in Kolkata, Sourjya is all about the numbers. He uses data to contextualise stories on a broad range of topics. Formerly with the Hindustan Times and IndiaSpend, any time not spent researching and writing is spent reading non-fiction and tackling his unending collection of films. An alumnus of Presidency College, Kolkata, he has a post-grad degree in Political Science from Calcutta University and was actively involved in student politics. He's a fan of Tintin comics, Germany's football team, Mohun Bagan and Old Monk.
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