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Demonetisation, GST, Railway Examination and Immature Indian Government

I name this blog as Demonetisation, GST, Railway Examination and Immature Indian Government.

On 8th November 2016, the Government of India announced the demonetisation of all ₹500 and ₹1,000 banknotes. The BSE SENSEX and NIFTY stock indices fell over 6 percent on the day after the announcement. In the days following the demonetisation, the country faced severe cash shortages with severe detrimental effects across the economy. The Government made revisions after revisions.

Revision: 25 November
- RBI says old currency notes can be exchanged at RBI branches
Revision: 24 November
- Government stops over the counter exchange of old banknotes; can only be deposited
- Government to ensure adequate cash supply for pensioners, armed forces personnel
- Allows certain payments in old 500 rupees notes including at tolls, hospitals for limited time
Revision: 23 November
- Government says will offer Rs210 billion in farm credit to farmers
Revision: 22 November
- RBI sets balance kept in prepaid wallets, cards (PPIs) at 20,000 rupees from 10,000 til 30 December
- Merchants can transfer up to Rs50,000 from PPIs to banks til 30 December
- Monthly limits on transactions via PPIs raised to Rs20,000 for 10,000 till 30 December
- RBI asks state-run Nabard to disburse up to Rs230 billion for crop loans
Revision: 21 November
- RBI allows cash withdrawal of up to Rs250,000 for wedding-related expenses
- RBI allows farmers to withdraw up to 25,000 rupees a week from their loan, deposit accounts
- RBI gives small borrowers 60 more days before loans of up to Rs10 million are marked substandard
- Government allows farmers to purchase seeds from state-run outlets with old Rs500 notes
Revision: 18 November
- RBI sets limit of cash withdrawal at card swiping machines at Rs2,000 per day
Revision: 17 November
- Government allows farmers to withdraw up to Rs25,000 a week against the crop loans
- Government extends time limit for farmer to pay crop insurance premiums by 14 days
- Cuts limit for over-the-counter exchange of old bills at banks to Rs2,000 from 4,500
Revision: 15 November
- Government says banks must use indelible ink to ensure people change cash only once
Revision: 14 November
- Extends deadline for payments in old notes including for petrol for limited time
Revision: 13 November
- RBI raises cap on weekly cash withdrawals from banks to Rs24,000 from 20,000
- Removes per-day withdrawal limit cap of Rs10,000
- Raises limit for over-the-counter exchange of old bills at banks to Rs4,500 from 4,000
- Waives ATM fees for all transactions by savings bank customers till 30 December
- Government increases withdrawal limits at re-calibrated ATMs to Rs2,500 per day from 2,000
Revision: 11 November
- Extends deadline for payments in old notes including for petrol for limited time


Goods and Services Tax (GST) is an indirect tax levied in India on the sale of goods and services. The tax came into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Modi government. The tax replaced existing multiple cascading taxes levied by the central and state governments. The impact of GST on Indian business can be negative and positive. The proposed GST rate is quite high than VAT which won't bring down the price of commodities. Now again the Government made revisions after revisions.
25th GST Council Meeting held on 18th January, 2018.

24th GST council meeting held through Video Conferencing on 16th December 2017.

23rd GST council meeting held on 10th November at Guwahati, Assam.

22nd GST Council Meeting held on 06th October, 2017 at Vigyan Bhavan, New Delhi.

21st GST Council Meeting held on 09th September, 2017 in Hyderabad.

20th GST Council Meeting held on 05th August, 2017 at Vigyan Bhavan,New Delhi.

19th GST Council Meeting held on 17th july, 2017 by Video Conferencing
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1st GST Council Meeting held on 22nd & 23rd September, 2016 in New Delhi

In these all meetings some items were moved to 28% to 18%, 18% to 12%, 18% to 5% and different different GST Slab.


A large scale recruitment by Indian Railway across the nation, begins from January-February 2018, generating 90,000 jobs: Railway Minister Piyush Goyal. There are nearly 90,000 posts in Group C Level (Erstwhile Group D) like track maintainer, points man, helper, gateman, porter and group C Level II categories like assistant Loco Pilots (ALP), technicians (Fitter, Crane Driver, Blacksmith, Carpenter) through Railway Recruitment Boards website. But they have done something wrong in notifications like changes in the age criteria, huge fee, remove exam languages & ITI eligibility. After massive protest & outrage by candidates and one of the popular media coverage, the government are now on backfoot and again made revisions after revisions.


"I want to make it clear that the hike in the fees is because we realised that many people fill the form and then do not turn up for the exams. The government spends a lot of money on the exams. So, those who appear will get their fee refunded. Those who have paid Rs 250 will be refunded the entire amount and those who have paid Rs 500 will be refunded Rs 400. So, in effect, there is no hike. We want only the serious candidates to appear in the exams," Railway Minister Piyush Goyal.

"It has also been decided that the questions in regional languages like Malayalam, Tamil, Kannada, Odia, Telugu, Bangla and others will be available for candidates to take the exam," the statement said.

A class 10th pass or ITI (Industrial Training Institute) degree holder or NCTVT (National Council for Training in the Vocational Trades) degree holder would be deemed eligible to apply for the jobs in Level 1 Group C & D: Railway Minister Piyush Goyal.

The age relaxation which was given a few years ago had to be brought back to normal age. So relaxation was reduced by 2 years. Some candidates who were not aware of the changes were becoming ineligible to apply. So decided to allow age relaxation in this year's exam: Railway Minister Piyush Goyal.


Now the point is if the government had done some ground work, then revisions do not have to be repeated again and again.


This is a clear sign of immature governance of Modi government.  

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