Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

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        Interviews | Pronab Sen, Programme Director for the IGC India Programme and first Chief Statistician of India, interviewed by Vikas Dhoot (The Hindu)    </title>
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The ill-prepared move left India with all the damages and very few of the benefits

On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, ₹500 and ₹1,000 notes would no longer be considered legal tender in India...."/>
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The ill-prepared move left India with all the damages and very few of the benefits

On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, ₹500 and ₹1,000 notes would no longer be considered legal tender in India...." />
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		 Published on</span><span class="text-date"> Nov 12, 2021</span>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>The ill-prepared move left India with all the damages and very few of the benefits</em></p><p style="text-align:justify">On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, 500 and 1,000 notes would no longer be considered legal tender in India. The government&rsquo;s stated aim was to curb corruption and the pervasion of black money in the economy, as well as the proliferation of fake currency which was also being used in terror funding. Pronab Sen discusses with Vikas Dhoot the after-effects of the demonetisation gambit and whether the intended outcomes have been achieved. Edited excerpts:</p><p style="text-align:justify"><em>* What has been the assessment of the extent of black money in the Indian economy?</em></p><p style="text-align:justify">PS: Black money and the black economy are not the same. Black money is transitory and there&rsquo;s not a whole lot of it. The black economy, particularly black assets, is large. Various studies to quantify it have yielded a wide range of estimates (20%-60% of GDP). Black money, or cash which has not been shown, is a very small component of this larger black economy because nobody who has made black income hangs on to that cash for long. They invest it in some asset. So, most of the black economy is in the form of assets. And when you look at any asset, there is always some person or entity holding it. Whether that name is benami or not is impossible for a researcher to find out and the statistical system to capture.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true">click here</a> to read more.&nbsp;</p><p style="text-align:justify"><strong>Image Courtesy: <a href="https://www.theigc.org/person/pronab-sen/" title="https://www.theigc.org/person/pronab-sen/">IGC</a></strong></p>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true" class="re" target="_blank">The Hindu, 12 November, 2021, https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true</a><div class="clear"></div>
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The ill-prepared move left India with all the damages and very few of the benefits

On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, ₹500 and ₹1,000 notes would no longer be considered legal tender in India...."/>
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The ill-prepared move left India with all the damages and very few of the benefits

On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, ₹500 and ₹1,000 notes would no longer be considered legal tender in India...." />
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>The ill-prepared move left India with all the damages and very few of the benefits</em></p><p style="text-align:justify">On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, 500 and 1,000 notes would no longer be considered legal tender in India. The government&rsquo;s stated aim was to curb corruption and the pervasion of black money in the economy, as well as the proliferation of fake currency which was also being used in terror funding. Pronab Sen discusses with Vikas Dhoot the after-effects of the demonetisation gambit and whether the intended outcomes have been achieved. Edited excerpts:</p><p style="text-align:justify"><em>* What has been the assessment of the extent of black money in the Indian economy?</em></p><p style="text-align:justify">PS: Black money and the black economy are not the same. Black money is transitory and there&rsquo;s not a whole lot of it. The black economy, particularly black assets, is large. Various studies to quantify it have yielded a wide range of estimates (20%-60% of GDP). Black money, or cash which has not been shown, is a very small component of this larger black economy because nobody who has made black income hangs on to that cash for long. They invest it in some asset. So, most of the black economy is in the form of assets. And when you look at any asset, there is always some person or entity holding it. Whether that name is benami or not is impossible for a researcher to find out and the statistical system to capture.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true">click here</a> to read more.&nbsp;</p><p style="text-align:justify"><strong>Image Courtesy: <a href="https://www.theigc.org/person/pronab-sen/" title="https://www.theigc.org/person/pronab-sen/">IGC</a></strong></p>                                                           
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        Interviews | Pronab Sen, Programme Director for the IGC India Programme and first Chief Statistician of India, interviewed by Vikas Dhoot (The Hindu)    </title>
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The ill-prepared move left India with all the damages and very few of the benefits

On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, ₹500 and ₹1,000 notes would no longer be considered legal tender in India...."/>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>The ill-prepared move left India with all the damages and very few of the benefits</em></p><p style="text-align:justify">On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, 500 and 1,000 notes would no longer be considered legal tender in India. The government&rsquo;s stated aim was to curb corruption and the pervasion of black money in the economy, as well as the proliferation of fake currency which was also being used in terror funding. Pronab Sen discusses with Vikas Dhoot the after-effects of the demonetisation gambit and whether the intended outcomes have been achieved. Edited excerpts:</p><p style="text-align:justify"><em>* What has been the assessment of the extent of black money in the Indian economy?</em></p><p style="text-align:justify">PS: Black money and the black economy are not the same. Black money is transitory and there&rsquo;s not a whole lot of it. The black economy, particularly black assets, is large. Various studies to quantify it have yielded a wide range of estimates (20%-60% of GDP). Black money, or cash which has not been shown, is a very small component of this larger black economy because nobody who has made black income hangs on to that cash for long. They invest it in some asset. So, most of the black economy is in the form of assets. And when you look at any asset, there is always some person or entity holding it. Whether that name is benami or not is impossible for a researcher to find out and the statistical system to capture.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true">click here</a> to read more.&nbsp;</p><p style="text-align:justify"><strong>Image Courtesy: <a href="https://www.theigc.org/person/pronab-sen/" title="https://www.theigc.org/person/pronab-sen/">IGC</a></strong></p>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true" class="re" target="_blank">The Hindu, 12 November, 2021, https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true</a><div class="clear"></div>
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Pronab Sen, Programme Director for the IGC India Programme and first Chief Statistician of India, interviewed by Vikas Dhoot (The Hindu)

Published on Nov 12, 2021   Modified on Nov 12, 2021

-The Hindu The ill-prepared move left India with all the damages and very few of the benefits On November 8, 2016, Prime Minister Narendra Modi announced that from midnight, 500 and 1,000 notes would no longer be considered legal tender in India. The government’s stated aim was to curb corruption and the pervasion of black money in the economy, as well as the proliferation of fake currency which was also being used in terror funding. Pronab Sen discusses with Vikas Dhoot the after-effects of the demonetisation gambit and whether the intended outcomes have been achieved. Edited excerpts: * What has been the assessment of the extent of black money in the Indian economy? PS: Black money and the black economy are not the same. Black money is transitory and there’s not a whole lot of it. The black economy, particularly black assets, is large. Various studies to quantify it have yielded a wide range of estimates (20%-60% of GDP). Black money, or cash which has not been shown, is a very small component of this larger black economy because nobody who has made black income hangs on to that cash for long. They invest it in some asset. So, most of the black economy is in the form of assets. And when you look at any asset, there is always some person or entity holding it. Whether that name is benami or not is impossible for a researcher to find out and the statistical system to capture. Please click here to read more.  Image Courtesy: IGC

The Hindu, 12 November, 2021, https://www.thehindu.com/opinion/op-ed/is-the-economy-still-reeling-from-demonetisation/article37445099.ece?homepage=true

Tagged with: Black Economy Black Money Demonetisation Economic Growth Indian Economy Micro, Small and Medium Enterprises MSMEs Note Ban Pronab Sen Fake Currency Terrorism Counterfeit Currency

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