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: 73
 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::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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 88
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: 74
 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::printArticle() - APP/Controller/ArtileDetailController.php, line 74
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 88
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);

            } else {
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</span></span></code></pre><pre id="cakeErr68037c876b062-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
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&lt;br /&gt;
&lt;em&gt;According to him, the currency shortage in the country is unlikely to ease any time in the near future. &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;India&amp;rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.&lt;br /&gt;
&lt;br /&gt;
Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &amp;ldquo;it&amp;rsquo;s a wrong step with design flaws &amp;hellip; that needs to be corrected. It&amp;rsquo;s hurting people which are not the intended target.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.&lt;br /&gt;
&lt;br /&gt;
Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &amp;ldquo;it&amp;rsquo;s a wrong step with design flaws &amp;hellip; that needs to be corrected. It&amp;rsquo;s hurting people which are not the intended target.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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                <strong>Cash Crunch: Slowdown, more pain ahead, warns Kaushik Basu -George Mathew &amp; Priyanka Sahoo</strong></h1>
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                <div align="justify">-The Indian Express<br /><br /><em>According to him, the currency shortage in the country is unlikely to ease any time in the near future. <br /></em><br /><em>Mumbai: </em>India&rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.<br /><br />Basu has been quite critical of the government&rsquo;s move after it was first announced on November 8, having tweeted that the economics of demonetisation was complex and that the collateral damage was likely to far outstrip its benefits, joining a growing number of those who have slammed the government&rsquo;s decision, including former Prime Minister Manmohan Singh.<br /><br />According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.<br /><br />Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &ldquo;it&rsquo;s a wrong step with design flaws &hellip; that needs to be corrected. It&rsquo;s hurting people which are not the intended target.&rdquo;<br /><br />Basu said that there will be deeper second and third round effects of the demonetisation move including an imminent slump in growth of economy. &ldquo;The RBI said GDP growth will come down from 7.6 percent to 7.1 per cent this year. I think it will be 7 per cent or 6.9 per cent. The next year will be worse as productivity will suffer and agriculture sector will be hit,&rdquo; he said.<br /><br />Please <a href="http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/" title="http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/">click here</a> to read more. </div><div align="justify">&nbsp;</div>               </font>
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&lt;br /&gt;
&lt;em&gt;According to him, the currency shortage in the country is unlikely to ease any time in the near future. &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;India&amp;rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.&lt;br /&gt;
&lt;br /&gt;
Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &amp;ldquo;it&amp;rsquo;s a wrong step with design flaws &amp;hellip; that needs to be corrected. It&amp;rsquo;s hurting people which are not the intended target.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &amp;ldquo;it&amp;rsquo;s a wrong step with design flaws &amp;hellip; that needs to be corrected. It&amp;rsquo;s hurting people which are not the intended target.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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-The Indian Express

According to him, the currency shortage in the country is unlikely to ease any time in the near future. 

Mumbai: India&rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the..."/>
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                <strong>Cash Crunch: Slowdown, more pain ahead, warns Kaushik Basu -George Mathew &amp; Priyanka Sahoo</strong></h1>
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                <div align="justify">-The Indian Express<br /><br /><em>According to him, the currency shortage in the country is unlikely to ease any time in the near future. <br /></em><br /><em>Mumbai: </em>India&rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.<br /><br />Basu has been quite critical of the government&rsquo;s move after it was first announced on November 8, having tweeted that the economics of demonetisation was complex and that the collateral damage was likely to far outstrip its benefits, joining a growing number of those who have slammed the government&rsquo;s decision, including former Prime Minister Manmohan Singh.<br /><br />According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.<br /><br />Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &ldquo;it&rsquo;s a wrong step with design flaws &hellip; that needs to be corrected. It&rsquo;s hurting people which are not the intended target.&rdquo;<br /><br />Basu said that there will be deeper second and third round effects of the demonetisation move including an imminent slump in growth of economy. &ldquo;The RBI said GDP growth will come down from 7.6 percent to 7.1 per cent this year. I think it will be 7 per cent or 6.9 per cent. The next year will be worse as productivity will suffer and agriculture sector will be hit,&rdquo; he said.<br /><br />Please <a href="http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/" title="http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/">click here</a> to read more. </div><div align="justify">&nbsp;</div>               </font>
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&lt;em&gt;According to him, the currency shortage in the country is unlikely to ease any time in the near future. &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;India&amp;rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.&lt;br /&gt;
&lt;br /&gt;
Basu has been quite critical of the government&amp;rsquo;s move after it was first announced on November 8, having tweeted that the economics of demonetisation was complex and that the collateral damage was likely to far outstrip its benefits, joining a growing number of those who have slammed the government&amp;rsquo;s decision, including former Prime Minister Manmohan Singh.&lt;br /&gt;
&lt;br /&gt;
According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.&lt;br /&gt;
&lt;br /&gt;
Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &amp;ldquo;it&amp;rsquo;s a wrong step with design flaws &amp;hellip; that needs to be corrected. It&amp;rsquo;s hurting people which are not the intended target.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Indian Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;According to him, the currency shortage in the country is unlikely to ease any time in the near future. &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;&lt;em&gt;Mumbai: &lt;/em&gt;India&amp;rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.&lt;br /&gt;&lt;br /&gt;Basu has been quite critical of the government&amp;rsquo;s move after it was first announced on November 8, having tweeted that the economics of demonetisation was complex and that the collateral damage was likely to far outstrip its benefits, joining a growing number of those who have slammed the government&amp;rsquo;s decision, including former Prime Minister Manmohan Singh.&lt;br /&gt;&lt;br /&gt;According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.&lt;br /&gt;&lt;br /&gt;Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &amp;ldquo;it&amp;rsquo;s a wrong step with design flaws &amp;hellip; that needs to be corrected. It&amp;rsquo;s hurting people which are not the intended target.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Basu said that there will be deeper second and third round effects of the demonetisation move including an imminent slump in growth of economy. &amp;ldquo;The RBI said GDP growth will come down from 7.6 percent to 7.1 per cent this year. I think it will be 7 per cent or 6.9 per cent. The next year will be worse as productivity will suffer and agriculture sector will be hit,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/&quot; title=&quot;http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/&quot;&gt;click here&lt;/a&gt; to read more. &lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&#039;,
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&lt;em&gt;According to him, the currency shortage in the country is unlikely to ease any time in the near future. &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;India&amp;rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.&lt;br /&gt;
&lt;br /&gt;
Basu has been quite critical of the government&amp;rsquo;s move after it was first announced on November 8, having tweeted that the economics of demonetisation was complex and that the collateral damage was likely to far outstrip its benefits, joining a growing number of those who have slammed the government&amp;rsquo;s decision, including former Prime Minister Manmohan Singh.&lt;br /&gt;
&lt;br /&gt;
According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.&lt;br /&gt;
&lt;br /&gt;
Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &amp;ldquo;it&amp;rsquo;s a wrong step with design flaws &amp;hellip; that needs to be corrected. It&amp;rsquo;s hurting people which are not the intended target.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Basu said that there will be deeper second and third round effects of the demonetisation move including an imminent slump in growth of economy. &amp;ldquo;The RBI said GDP growth will come down from 7.6 percent to 7.1 per cent this year. I think it will be 7 per cent or 6.9 per cent. The next year will be worse as productivity will suffer and agriculture sector will be hit,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/&quot;&gt;click here&lt;/a&gt; to read more. 
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According to him, the currency shortage in the country is unlikely to ease any time in the near future. 

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                <strong>Cash Crunch: Slowdown, more pain ahead, warns Kaushik Basu -George Mathew &amp; Priyanka Sahoo</strong></h1>
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-The Indian Express<br />
<br />
<em>According to him, the currency shortage in the country is unlikely to ease any time in the near future. <br />
</em><br />
<em>Mumbai: </em>India&rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.<br />
<br />
Basu has been quite critical of the government&rsquo;s move after it was first announced on November 8, having tweeted that the economics of demonetisation was complex and that the collateral damage was likely to far outstrip its benefits, joining a growing number of those who have slammed the government&rsquo;s decision, including former Prime Minister Manmohan Singh.<br />
<br />
According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.<br />
<br />
Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &ldquo;it&rsquo;s a wrong step with design flaws &hellip; that needs to be corrected. It&rsquo;s hurting people which are not the intended target.&rdquo;<br />
<br />
Basu said that there will be deeper second and third round effects of the demonetisation move including an imminent slump in growth of economy. &ldquo;The RBI said GDP growth will come down from 7.6 percent to 7.1 per cent this year. I think it will be 7 per cent or 6.9 per cent. The next year will be worse as productivity will suffer and agriculture sector will be hit,&rdquo; he said.<br />
<br />
Please <a href="http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/">click here</a> to read more. 
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According to him, the currency shortage in the country is unlikely to ease any time in the near future. 

Mumbai: India&rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the...',
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-The Indian Express<br />
<br />
<em>According to him, the currency shortage in the country is unlikely to ease any time in the near future. <br />
</em><br />
<em>Mumbai: </em>India&rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.<br />
<br />
Basu has been quite critical of the government&rsquo;s move after it was first announced on November 8, having tweeted that the economics of demonetisation was complex and that the collateral damage was likely to far outstrip its benefits, joining a growing number of those who have slammed the government&rsquo;s decision, including former Prime Minister Manmohan Singh.<br />
<br />
According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.<br />
<br />
Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &ldquo;it&rsquo;s a wrong step with design flaws &hellip; that needs to be corrected. It&rsquo;s hurting people which are not the intended target.&rdquo;<br />
<br />
Basu said that there will be deeper second and third round effects of the demonetisation move including an imminent slump in growth of economy. &ldquo;The RBI said GDP growth will come down from 7.6 percent to 7.1 per cent this year. I think it will be 7 per cent or 6.9 per cent. The next year will be worse as productivity will suffer and agriculture sector will be hit,&rdquo; he said.<br />
<br />
Please <a href="http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/">click here</a> to read more. 
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&nbsp;
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$metaTitle = 'LATEST NEWS UPDATES | Cash Crunch: Slowdown, more pain ahead, warns Kaushik Basu -George Mathew &amp; Priyanka Sahoo'
$metaKeywords = 'GDP growth,Economic Growth,black money,Currency demonetisation,Demonetisation'
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-The Indian Express

According to him, the currency shortage in the country is unlikely to ease any time in the near future. 

Mumbai: India&rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the...'
$disp = '<div align="justify">-The Indian Express<br /><br /><em>According to him, the currency shortage in the country is unlikely to ease any time in the near future. <br /></em><br /><em>Mumbai: </em>India&rsquo;s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes.<br /><br />Basu has been quite critical of the government&rsquo;s move after it was first announced on November 8, having tweeted that the economics of demonetisation was complex and that the collateral damage was likely to far outstrip its benefits, joining a growing number of those who have slammed the government&rsquo;s decision, including former Prime Minister Manmohan Singh.<br /><br />According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday.<br /><br />Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying &ldquo;it&rsquo;s a wrong step with design flaws &hellip; that needs to be corrected. It&rsquo;s hurting people which are not the intended target.&rdquo;<br /><br />Basu said that there will be deeper second and third round effects of the demonetisation move including an imminent slump in growth of economy. &ldquo;The RBI said GDP growth will come down from 7.6 percent to 7.1 per cent this year. I think it will be 7 per cent or 6.9 per cent. The next year will be worse as productivity will suffer and agriculture sector will be hit,&rdquo; he said.<br /><br />Please <a href="http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/" title="http://indianexpress.com/article/business/banking-and-finance/cash-crunch-slowdown-more-pain-ahead-warns-kaushik-basu-demonetisation-4419614/">click here</a> to read more. </div><div align="justify">&nbsp;</div>'
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Cash Crunch: Slowdown, more pain ahead, warns Kaushik Basu -George Mathew & Priyanka Sahoo

-The Indian Express According to him, the currency shortage in the country is unlikely to ease any time in the near future. Mumbai: India’s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of corruption building up in the wake of the withdrawal of Rs 500 and Rs 1,000 notes. Basu has been quite critical of the government’s move after it was first announced on November 8, having tweeted that the economics of demonetisation was complex and that the collateral damage was likely to far outstrip its benefits, joining a growing number of those who have slammed the government’s decision, including former Prime Minister Manmohan Singh. According to him, the currency shortage in the country is unlikely to ease any time in the near future. He said that close to Rs 12 lakh crore has already come into the banking system of the total high value notes in circulation of around Rs 15 lakh crore. However, the RBI has supplied only Rs 4 lakh crore notes. Around Rs 6 lakh crore will be supplied by the end of December 30, leaving a big shortage, he said at the third N R Kamath Colloquium at the Indian Institute of Technology, Bombay. on Friday. Basu, who was the Chief Economic Advisor of the UPA government during 2009-12 and is currently the C Marks Professor of Inetrnational Studies and Professor of Economics at Cornell University, hit out at the demonetisation drive, saying “it’s a wrong step with design flaws … that needs to be corrected. It’s hurting people which are not the intended target.” Basu said that there will be deeper second and third round effects of the demonetisation move including an imminent slump in growth of economy. “The RBI said GDP growth will come down from 7.6 percent to 7.1 per cent this year. I think it will be 7 per cent or 6.9 per cent. The next year will be worse as productivity will suffer and agriculture sector will be hit,” he said. Please click here to read more.