'We have to stop thinking about GDP and look at the impact on output and unemployment.' 'And that is not going to be insignificant.'

The government hopes the latest action will lead to banks also lowering the cost of borrowing for corporate and individual borrowers.

Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.

Lower interest rates needed to boost manufacturing, officials say.

Rs 14.5 lakh crore of Rs 500 and Rs 1,000 notes have been deposited as of 30/12.

Such a move will help bring clarity to the Centre's estimates of the demonetised amount

Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.