Note ban saw Modi govt deliver one of its worst performances in Dec quarter

New investment proposals during the quarter were half the average of the preceding nine quarters

The demonetisation drive that was announced during the December quarter, and has become the biggest such initiative in the world, has taken a huge toll on the Indian economy -- one that will the country a take a long time to extricate itself from.

On Monday, the Centre for Monitoring Indian Economy (CMIE) released capacity expansion data for the December 2016 quarter, in which it said, "New investment proposals worth Rs 1.25 trillion (Rs 1.25 lakh crore) were observed during the quarter ended December 2016. This is low compared to the average Rs 2.36 trillion worth of new investments