Can't sign in? Did you forget your password?
If you don’t have an account, click right here
Can't Sign in? Did you forget your password?
to create your profile
Click on the image to upload your profile pic
Enter your email and we shall mail you the password reset link
Enter new password and confirm password
What percentage of it can be explained by the pay commission.
40-50% is of this money is with middle and lower class, this amount will certainly go back to circulation
Watch this video by Dr. Jayaprakash Narayan : Will Demonetization dramatically root out corruption & black money?
$30bn Source: Bllomberg
But 200,000 cr seems like a possible number. Around 1,400,000 cr was in denomination of 500s and 1000s (http://www.indiaspend.com/cover-story/rs-14-lakh-cr-cash-junked-what-that-means-for-black-money-13911 )
It might not be a bad idea to assume that 50% of it was already in banks and 50% was in cash as rotation.
This leaves us with 700,000 cr.
Lets divide this in 3 fractions, one accountable money second not accountable but adjustable money: money deposited in relatives/servants accounts third money which will be burnt. If we even give last one the majority share, estimating first two to be less than 30% won't be a sensible idea.
It would not explain the October spike though.