IDA REDUCED BY 0.8% FROM 1-1-2017

IDA RATE REDUCED FROM NEW YEAR DAY

CASHLESS = LESS CASH = LESS INDEX = LESS IDA

31/12

The Labour Bureau of India has officially released the All India Consumer Price Index (AICPI) for the month of November 2016. It is 277 Points. AICPI for October was 278 Points and for September it was 277 Points. Three months’ average is 277.33.

Based on the above Average the IDA from January 2017 will be119.5%. There will be a decrease of 0.8% from the existing rate of 120.3%.

Recent action of withdrawal of Rs 500 and Rs 1000 Notes rendered large section of the people cashless. It reduced their purchasing power. It affected the small scale trade, the markets. In turn, it affected the price and Index also.

The advisors of Prime Minister deal with Credit Cards and Smart Cards. They do not know the stark reality in the villages and small towns and in the ordinary families.

This is the result of a good scheme implemented without proper planning, without proper preparation and without understanding the ground reality. Financial experts trained by world Bank or IMF or US based Institutions do not know what the real India is.

We are moving into a new year…..

….P S Ramankutty