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Demonetisation: Steel feels the pinch as demand withers across sectors

There has been a fall in demand for steel since the demonetisation drive and the pain may last for the rest of the year

Kunal Bose  |  New Delhi 

Economic forecasters are no soothsayers. Their projections are prone to go wrong if the government makes out-of-the-blue interventions such as the recent culling of high-denomination notes of Rs 500 and Rs 1,000 which constitute as much as 86 per cent of the country’s total currency in circulation.  Even while the media remains largely focused on inconveniences faced by the masses, the country’s steel industry, which only recently started seeing signs of a turnaround after four difficult years, is feeling the pinch of an already low demand withering ...

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Demonetisation: Steel feels the pinch as demand withers across sectors

There has been a fall in demand for steel since the demonetisation drive and the pain may last for the rest of the year

There has been a fall in demand for steel since the demonetisation drive and the pain may last for the rest of the year Economic forecasters are no soothsayers. Their projections are prone to go wrong if the government makes out-of-the-blue interventions such as the recent culling of high-denomination notes of Rs 500 and Rs 1,000 which constitute as much as 86 per cent of the country’s total currency in circulation.  Even while the media remains largely focused on inconveniences faced by the masses, the country’s steel industry, which only recently started seeing signs of a turnaround after four difficult years, is feeling the pinch of an already low demand withering ... image
Business Standard
177 22

Demonetisation: Steel feels the pinch as demand withers across sectors

There has been a fall in demand for steel since the demonetisation drive and the pain may last for the rest of the year

Economic forecasters are no soothsayers. Their projections are prone to go wrong if the government makes out-of-the-blue interventions such as the recent culling of high-denomination notes of Rs 500 and Rs 1,000 which constitute as much as 86 per cent of the country’s total currency in circulation.  Even while the media remains largely focused on inconveniences faced by the masses, the country’s steel industry, which only recently started seeing signs of a turnaround after four difficult years, is feeling the pinch of an already low demand withering ...

image
Business Standard
177 22