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Indian economy will lose Rs 1.28 lakh crore by Dec 30: CMIE


The Centre for Monitoring Indian Economy has estimated that Indian economy will lose Rs 1.28 lakh crore by December 30 due to demonetisation effect. Prior to the announcement of demonetisation, 17.8 lakh crore currency in denominations of Rs 500 and Rs 1000 was in circulation. It was about 86 per cent of entire currency which was in circulation.The CMIE report said business establishments have suffered a loss of Rs 61,500 crore from November 8 to till date. The report says banks suffered Rs 31,500 crore losses.