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);

    }
$message = '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.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 73,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'catslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 73,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'catslug'
	]
]
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);

    }
$message = '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.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 74,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'artileslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 74,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'artileslug'
	]
]
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 {
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr6804f836ede71-trace').style.display = (document.getElementById('cakeErr6804f836ede71-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr6804f836ede71-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr6804f836ede71-code').style.display = (document.getElementById('cakeErr6804f836ede71-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr6804f836ede71-context').style.display = (document.getElementById('cakeErr6804f836ede71-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr6804f836ede71-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr6804f836ede71-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 32615,
		&#039;title&#039; =&gt; &#039;Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-Business Standard&lt;br /&gt;
&lt;br /&gt;
Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;
&lt;br /&gt;
When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;
&lt;br /&gt;
Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;
&lt;br /&gt;
Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;
&lt;br /&gt;
Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;
&lt;br /&gt;
When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;Business Standard, 1 December, 2016, http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 4680692,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 32615,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;cash crunch,Currency demonetisation,Demonetisation&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money,...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Business Standard&lt;br /&gt;&lt;br /&gt;Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;&lt;br /&gt;When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;&lt;br /&gt;Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;&lt;br /&gt;Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;&lt;br /&gt;Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;&lt;br /&gt;When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot; title=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 32615,
	&#039;title&#039; =&gt; &#039;Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-Business Standard&lt;br /&gt;
&lt;br /&gt;
Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;
&lt;br /&gt;
When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;
&lt;br /&gt;
Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;
&lt;br /&gt;
Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;
&lt;br /&gt;
Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;
&lt;br /&gt;
When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;Business Standard, 1 December, 2016, http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 4680692,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 32615
$metaTitle = &#039;LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;
$metaKeywords = &#039;cash crunch,Currency demonetisation,Demonetisation&#039;
$metaDesc = &#039;
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money,...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-Business Standard&lt;br /&gt;&lt;br /&gt;Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;&lt;br /&gt;When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;&lt;br /&gt;Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;&lt;br /&gt;Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;&lt;br /&gt;Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;&lt;br /&gt;When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot; title=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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</pre></div></pre>latest-news-updates/demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj | Im4change.org</title>
    <meta name="description" content="
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money,..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div align="justify">-Business Standard<br /><br />Indian economy is showing signs of distress all around and economists are not off the mark in their assessment<br /><br />When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp; Rs 1,000, there were murmurs of protest.<br /><br />Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.<br /><br />Not to say that the Modi government&rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. <br /><br />Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here<br /><br />When asked whether the exercise has been executed well, he says, &ldquo;I don&rsquo;t have the guts to say there is no pain but then let&rsquo;s look at it in two ways &mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&rdquo;<br /><br />He adds how people were responsible for shortages, &ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&rdquo;<br /><br />While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?<br /><br />Please <a href="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook" title="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook">click here</a> to read more. <br /></div>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$maxBufferLength = (int) 8192
$file = '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php'
$line = (int) 853
$message = 'Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853'
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 48
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Code Context
            $response->getStatusCode(),

            ($reasonPhrase ? ' ' . $reasonPhrase : '')

        ));
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr6804f836ede71-trace').style.display = (document.getElementById('cakeErr6804f836ede71-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr6804f836ede71-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr6804f836ede71-code').style.display = (document.getElementById('cakeErr6804f836ede71-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr6804f836ede71-context').style.display = (document.getElementById('cakeErr6804f836ede71-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr6804f836ede71-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr6804f836ede71-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 32615,
		&#039;title&#039; =&gt; &#039;Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-Business Standard&lt;br /&gt;
&lt;br /&gt;
Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;
&lt;br /&gt;
When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;
&lt;br /&gt;
Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;
&lt;br /&gt;
Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;
&lt;br /&gt;
Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;
&lt;br /&gt;
When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;Business Standard, 1 December, 2016, http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 4680692,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 32615,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;cash crunch,Currency demonetisation,Demonetisation&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money,...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Business Standard&lt;br /&gt;&lt;br /&gt;Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;&lt;br /&gt;When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;&lt;br /&gt;Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;&lt;br /&gt;Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;&lt;br /&gt;Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;&lt;br /&gt;When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot; title=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 32615,
	&#039;title&#039; =&gt; &#039;Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-Business Standard&lt;br /&gt;
&lt;br /&gt;
Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;
&lt;br /&gt;
When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;
&lt;br /&gt;
Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;
&lt;br /&gt;
Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;
&lt;br /&gt;
Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;
&lt;br /&gt;
When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;Business Standard, 1 December, 2016, http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 4680692,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 32615
$metaTitle = &#039;LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;
$metaKeywords = &#039;cash crunch,Currency demonetisation,Demonetisation&#039;
$metaDesc = &#039;
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money,...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-Business Standard&lt;br /&gt;&lt;br /&gt;Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;&lt;br /&gt;When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;&lt;br /&gt;Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;&lt;br /&gt;Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;&lt;br /&gt;Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;&lt;br /&gt;When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot; title=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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</pre></div></pre>latest-news-updates/demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj | Im4change.org</title>
    <meta name="description" content="
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money,..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div align="justify">-Business Standard<br /><br />Indian economy is showing signs of distress all around and economists are not off the mark in their assessment<br /><br />When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp; Rs 1,000, there were murmurs of protest.<br /><br />Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.<br /><br />Not to say that the Modi government&rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. <br /><br />Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here<br /><br />When asked whether the exercise has been executed well, he says, &ldquo;I don&rsquo;t have the guts to say there is no pain but then let&rsquo;s look at it in two ways &mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&rdquo;<br /><br />He adds how people were responsible for shortages, &ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&rdquo;<br /><br />While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?<br /><br />Please <a href="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook" title="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook">click here</a> to read more. <br /></div>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$reasonPhrase = 'OK'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitStatusLine() - CORE/src/Http/ResponseEmitter.php, line 148
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 54
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
Code Context
                    $value

                ), $first);

                $first = false;
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr6804f836ede71-trace').style.display = (document.getElementById('cakeErr6804f836ede71-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr6804f836ede71-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr6804f836ede71-code').style.display = (document.getElementById('cakeErr6804f836ede71-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr6804f836ede71-context').style.display = (document.getElementById('cakeErr6804f836ede71-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr6804f836ede71-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr6804f836ede71-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 32615,
		&#039;title&#039; =&gt; &#039;Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-Business Standard&lt;br /&gt;
&lt;br /&gt;
Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;
&lt;br /&gt;
When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;
&lt;br /&gt;
Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;
&lt;br /&gt;
Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;
&lt;br /&gt;
Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;
&lt;br /&gt;
When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;Business Standard, 1 December, 2016, http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 4680692,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 32615,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;cash crunch,Currency demonetisation,Demonetisation&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money,...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Business Standard&lt;br /&gt;&lt;br /&gt;Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;&lt;br /&gt;When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;&lt;br /&gt;Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;&lt;br /&gt;Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;&lt;br /&gt;Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;&lt;br /&gt;When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot; title=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 32615,
	&#039;title&#039; =&gt; &#039;Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-Business Standard&lt;br /&gt;
&lt;br /&gt;
Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;
&lt;br /&gt;
When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;
&lt;br /&gt;
Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;
&lt;br /&gt;
Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;
&lt;br /&gt;
Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;
&lt;br /&gt;
When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;Business Standard, 1 December, 2016, http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 4680692,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 32615
$metaTitle = &#039;LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj&#039;
$metaKeywords = &#039;cash crunch,Currency demonetisation,Demonetisation&#039;
$metaDesc = &#039;
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money,...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-Business Standard&lt;br /&gt;&lt;br /&gt;Indian economy is showing signs of distress all around and economists are not off the mark in their assessment&lt;br /&gt;&lt;br /&gt;When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&amp;rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp;amp; Rs 1,000, there were murmurs of protest.&lt;br /&gt;&lt;br /&gt;Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.&lt;br /&gt;&lt;br /&gt;Not to say that the Modi government&amp;rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. &lt;br /&gt;&lt;br /&gt;Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here&lt;br /&gt;&lt;br /&gt;When asked whether the exercise has been executed well, he says, &amp;ldquo;I don&amp;rsquo;t have the guts to say there is no pain but then let&amp;rsquo;s look at it in two ways &amp;mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;He adds how people were responsible for shortages, &amp;ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot; title=&quot;http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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</pre></div></pre>latest-news-updates/demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj | Im4change.org</title>
    <meta name="description" content="
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money,..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div align="justify">-Business Standard<br /><br />Indian economy is showing signs of distress all around and economists are not off the mark in their assessment<br /><br />When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp; Rs 1,000, there were murmurs of protest.<br /><br />Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.<br /><br />Not to say that the Modi government&rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. <br /><br />Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here<br /><br />When asked whether the exercise has been executed well, he says, &ldquo;I don&rsquo;t have the guts to say there is no pain but then let&rsquo;s look at it in two ways &mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&rdquo;<br /><br />He adds how people were responsible for shortages, &ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&rdquo;<br /><br />While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?<br /><br />Please <a href="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook" title="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook">click here</a> to read more. <br /></div>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$cookies = []
$values = [
	(int) 0 => 'text/html; charset=UTF-8'
]
$name = 'Content-Type'
$first = true
$value = 'text/html; charset=UTF-8'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitHeaders() - CORE/src/Http/ResponseEmitter.php, line 181
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 55
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

<head>

    <link rel="canonical" href="<?php echo Configure::read('SITE_URL'); ?><?php echo $urlPrefix;?><?php echo $article_current->category->slug; ?>/<?php echo $article_current->seo_url; ?>.html"/>

    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>

$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp'
$dataForView = [
	'article_current' => object(App\Model\Entity\Article) {

		'id' => (int) 32615,
		'title' => 'Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj',
		'subheading' => '',
		'description' => '<div align="justify">
-Business Standard<br />
<br />
Indian economy is showing signs of distress all around and economists are not off the mark in their assessment<br />
<br />
When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp; Rs 1,000, there were murmurs of protest.<br />
<br />
Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.<br />
<br />
Not to say that the Modi government&rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. <br />
<br />
Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here<br />
<br />
When asked whether the exercise has been executed well, he says, &ldquo;I don&rsquo;t have the guts to say there is no pain but then let&rsquo;s look at it in two ways &mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&rdquo;<br />
<br />
He adds how people were responsible for shortages, &ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&rdquo;<br />
<br />
While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?<br />
<br />
Please <a href="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook">click here</a> to read more. <br />
</div>',
		'credit_writer' => 'Business Standard, 1 December, 2016, http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook',
		'article_img' => '',
		'article_img_thumb' => '',
		'status' => (int) 1,
		'show_on_home' => (int) 1,
		'lang' => 'EN',
		'category_id' => (int) 16,
		'tag_keyword' => '',
		'seo_url' => 'demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692',
		'meta_title' => null,
		'meta_keywords' => null,
		'meta_description' => null,
		'noindex' => (int) 0,
		'publish_date' => object(Cake\I18n\FrozenDate) {},
		'most_visit_section_id' => null,
		'article_big_img' => null,
		'liveid' => (int) 4680692,
		'created' => object(Cake\I18n\FrozenTime) {},
		'modified' => object(Cake\I18n\FrozenTime) {},
		'edate' => '',
		'tags' => [
			[maximum depth reached]
		],
		'category' => object(App\Model\Entity\Category) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[hasErrors]' => false,
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'Articles'
	
	},
	'articleid' => (int) 32615,
	'metaTitle' => 'LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj',
	'metaKeywords' => 'cash crunch,Currency demonetisation,Demonetisation',
	'metaDesc' => '
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money,...',
	'disp' => '<div align="justify">-Business Standard<br /><br />Indian economy is showing signs of distress all around and economists are not off the mark in their assessment<br /><br />When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp; Rs 1,000, there were murmurs of protest.<br /><br />Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.<br /><br />Not to say that the Modi government&rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. <br /><br />Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here<br /><br />When asked whether the exercise has been executed well, he says, &ldquo;I don&rsquo;t have the guts to say there is no pain but then let&rsquo;s look at it in two ways &mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&rdquo;<br /><br />He adds how people were responsible for shortages, &ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&rdquo;<br /><br />While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?<br /><br />Please <a href="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook" title="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook">click here</a> to read more. <br /></div>',
	'lang' => 'English',
	'SITE_URL' => 'https://im4change.in/',
	'site_title' => 'im4change',
	'adminprix' => 'admin'
]
$article_current = object(App\Model\Entity\Article) {

	'id' => (int) 32615,
	'title' => 'Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj',
	'subheading' => '',
	'description' => '<div align="justify">
-Business Standard<br />
<br />
Indian economy is showing signs of distress all around and economists are not off the mark in their assessment<br />
<br />
When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp; Rs 1,000, there were murmurs of protest.<br />
<br />
Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.<br />
<br />
Not to say that the Modi government&rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. <br />
<br />
Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here<br />
<br />
When asked whether the exercise has been executed well, he says, &ldquo;I don&rsquo;t have the guts to say there is no pain but then let&rsquo;s look at it in two ways &mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&rdquo;<br />
<br />
He adds how people were responsible for shortages, &ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&rdquo;<br />
<br />
While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?<br />
<br />
Please <a href="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook">click here</a> to read more. <br />
</div>',
	'credit_writer' => 'Business Standard, 1 December, 2016, http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook',
	'article_img' => '',
	'article_img_thumb' => '',
	'status' => (int) 1,
	'show_on_home' => (int) 1,
	'lang' => 'EN',
	'category_id' => (int) 16,
	'tag_keyword' => '',
	'seo_url' => 'demonetisation-and-the-economy-signs-of-distress-everywhere-ankur-bhardwaj-4680692',
	'meta_title' => null,
	'meta_keywords' => null,
	'meta_description' => null,
	'noindex' => (int) 0,
	'publish_date' => object(Cake\I18n\FrozenDate) {},
	'most_visit_section_id' => null,
	'article_big_img' => null,
	'liveid' => (int) 4680692,
	'created' => object(Cake\I18n\FrozenTime) {},
	'modified' => object(Cake\I18n\FrozenTime) {},
	'edate' => '',
	'tags' => [
		(int) 0 => object(Cake\ORM\Entity) {},
		(int) 1 => object(Cake\ORM\Entity) {},
		(int) 2 => object(Cake\ORM\Entity) {}
	],
	'category' => object(App\Model\Entity\Category) {},
	'[new]' => false,
	'[accessible]' => [
		'*' => true,
		'id' => false
	],
	'[dirty]' => [],
	'[original]' => [],
	'[virtual]' => [],
	'[hasErrors]' => false,
	'[errors]' => [],
	'[invalid]' => [],
	'[repository]' => 'Articles'

}
$articleid = (int) 32615
$metaTitle = 'LATEST NEWS UPDATES | Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj'
$metaKeywords = 'cash crunch,Currency demonetisation,Demonetisation'
$metaDesc = '
-Business Standard

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money,...'
$disp = '<div align="justify">-Business Standard<br /><br />Indian economy is showing signs of distress all around and economists are not off the mark in their assessment<br /><br />When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government&rsquo;s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 &amp; Rs 1,000, there were murmurs of protest.<br /><br />Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak.<br /><br />Not to say that the Modi government&rsquo;s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. <br /><br />Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here<br /><br />When asked whether the exercise has been executed well, he says, &ldquo;I don&rsquo;t have the guts to say there is no pain but then let&rsquo;s look at it in two ways &mdash; transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.&rdquo;<br /><br />He adds how people were responsible for shortages, &ldquo;Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.&rdquo;<br /><br />While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong?<br /><br />Please <a href="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook" title="http://www.business-standard.com/article/economy-policy/demonetisation-and-the-economy-signs-of-distress-everywhere-116120100540_1.html#.WEEvAPnYBf8.facebook">click here</a> to read more. <br /></div>'
$lang = 'English'
$SITE_URL = 'https://im4change.in/'
$site_title = 'im4change'
$adminprix = 'admin'

include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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

Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj

-Business Standard Indian economy is showing signs of distress all around and economists are not off the mark in their assessment When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government’s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 & Rs 1,000, there were murmurs of protest. Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be confused with black) economy have been talked about. The view from economists - barring few - has generally been bleak. Not to say that the Modi government’s move has not found support. Economists like Bibek Debroy, Surjit Bhalla and celebrities like Aishwarya Rai, Baba Ramdev and Amitabh Bachchan have expressed their support for this audacious move. Corporate figures have had different views but some have supported the move as transformational. HDFC Bank MD, Aditya Puri does not believe what economists are saying about the economic consequences of demonetisation. Puri is gung-ho about India going cashless as it would lead to higher levels of transparency he says. Read about it here When asked whether the exercise has been executed well, he says, “I don’t have the guts to say there is no pain but then let’s look at it in two ways — transition and long run. Transition is 50 days when the currency has been pulled out and has to be put back.” He adds how people were responsible for shortages, “Yes, there was a combination of issues such as people misusing the banking system and then creating shortages, people making a lot of noise and not creating normalcy and long queues etc, but the worst is behind us.” While disagreeing with the general view held by economists, he asks how often they have been right. So, what does the news from around India say about the economy? Is it stuck or moving smoothly? Are economists wrong? Please click here to read more.