The RBI's latest figures, which suggest that only about 1% of the cash banned under demonetisation has not come back into the system has revived the debate once again on whether the note ban has been effective or not. Critics of the note ban including this government's political rivals, say this is conclusive proof that the ban, meant to wipe out black money, was a failure, but those in the government strongly disagree and leading the charge is Rajiv Kumar Vice Chairman of the Niti Aayog. Speaking exclusively to NDTV, Mr Kumar said that 'he believes it was the right step to cleanse the economy, and if he were to implement note ban again, he would do so'.
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The increase in production is to cater to the increased demand because of the festive season and revised GST rates.
The development coincides with the surge in sales fuelled by revised GST rates and festive demands.
India's consumer economy has achieved its highest Navratri sales in over a decade, a surge attributed to the Modi government's NextGen GST reforms, which reduced tax rates and increased product accessibility.
The Yamaha R3 and the MT-03 have received a price cut of Rs 20,000 following the revision in GST rates.
The sales of Suzuki Motorcycle India were supplemented by reduced GST rates and increased demand because of the festive season.
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