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


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

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


        trigger_error($message, E_USER_DEPRECATED);

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

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

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        LATEST NEWS UPDATES | Demonetisation has Been an Utter Failure on all Fronts -Prabhat Patnaik     </title>
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None of its stated objectives have been met and the entire exercise has turned out to be a mere act of converting old notes into new ones, at great inconvenience to the people.

In the entire history of post-Independence India, no..."/>
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>None of its stated objectives have been met and the entire exercise has turned out to be a mere act of converting old notes into new ones, at great inconvenience to the people.</em></p><p style="text-align:justify">In the entire history of post-Independence India, no single economic measure has been as devastating for the people and as utterly futile in achieving its stated objectives, as the demonetisation of currency notes of Rs 500 and Rs 1,000 denomination, decreed by the Narendra Modi government on November 8, 2016.</p><p style="text-align:justify">The fact that it did not achieve its stated objectives was not unforeseen. On the contrary, it was obvious to every economist that demonetisation was the height of folly even as it was announced, which is why it was opposed by all, except a handful of &ldquo;climbers&rdquo; keen to please the government.</p><p style="text-align:justify">The government had mentioned three objectives of the move: to eliminate black money, to get rid of counterfeit notes and to attack terror funding. Of these, the last two were add-ons that everybody knew did not carry much credibility. A study by the Indian Statistical Institute had estimated counterfeit currency to be a minuscule proportion of total currency. Hence, the sudden demonetisation of 85% of the country&rsquo;s currency for the sake of getting rid of a minuscule amount of counterfeit currency could not be taken seriously as an argument.</p><p style="text-align:justify">Likewise, terror funding occurs through diverse routes and nobody seriously thought that demonetisation would stop terror funding or even hurt it temporarily. The real objective was to eliminate black money; and believing that demonetisation would do so, betrays the Modi government&rsquo;s total lack of understanding of the black economy, and hence of the economy in general.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts" title="https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts">click here</a> to read more.&nbsp;</p>                                                           
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    <br><a href="https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts" class="re" target="_blank">Newsclick.in, 8 November, 2022, https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts</a><div class="clear"></div>
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    <h1 class="cat-box-title">Demonetisation has Been an Utter Failure on all Fronts -Prabhat Patnaik </h1>
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>None of its stated objectives have been met and the entire exercise has turned out to be a mere act of converting old notes into new ones, at great inconvenience to the people.</em></p><p style="text-align:justify">In the entire history of post-Independence India, no single economic measure has been as devastating for the people and as utterly futile in achieving its stated objectives, as the demonetisation of currency notes of Rs 500 and Rs 1,000 denomination, decreed by the Narendra Modi government on November 8, 2016.</p><p style="text-align:justify">The fact that it did not achieve its stated objectives was not unforeseen. On the contrary, it was obvious to every economist that demonetisation was the height of folly even as it was announced, which is why it was opposed by all, except a handful of &ldquo;climbers&rdquo; keen to please the government.</p><p style="text-align:justify">The government had mentioned three objectives of the move: to eliminate black money, to get rid of counterfeit notes and to attack terror funding. Of these, the last two were add-ons that everybody knew did not carry much credibility. A study by the Indian Statistical Institute had estimated counterfeit currency to be a minuscule proportion of total currency. Hence, the sudden demonetisation of 85% of the country&rsquo;s currency for the sake of getting rid of a minuscule amount of counterfeit currency could not be taken seriously as an argument.</p><p style="text-align:justify">Likewise, terror funding occurs through diverse routes and nobody seriously thought that demonetisation would stop terror funding or even hurt it temporarily. The real objective was to eliminate black money; and believing that demonetisation would do so, betrays the Modi government&rsquo;s total lack of understanding of the black economy, and hence of the economy in general.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts" title="https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts">click here</a> to read more.&nbsp;</p>                                                           
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    <br><a href="https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts" class="re" target="_blank">Newsclick.in, 8 November, 2022, https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts</a><div class="clear"></div>
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    <h1 class="cat-box-title">Demonetisation has Been an Utter Failure on all Fronts -Prabhat Patnaik </h1>
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                            <p style="text-align:justify">-Newsclick.in</p><p style="text-align:justify"><em>None of its stated objectives have been met and the entire exercise has turned out to be a mere act of converting old notes into new ones, at great inconvenience to the people.</em></p><p style="text-align:justify">In the entire history of post-Independence India, no single economic measure has been as devastating for the people and as utterly futile in achieving its stated objectives, as the demonetisation of currency notes of Rs 500 and Rs 1,000 denomination, decreed by the Narendra Modi government on November 8, 2016.</p><p style="text-align:justify">The fact that it did not achieve its stated objectives was not unforeseen. On the contrary, it was obvious to every economist that demonetisation was the height of folly even as it was announced, which is why it was opposed by all, except a handful of &ldquo;climbers&rdquo; keen to please the government.</p><p style="text-align:justify">The government had mentioned three objectives of the move: to eliminate black money, to get rid of counterfeit notes and to attack terror funding. Of these, the last two were add-ons that everybody knew did not carry much credibility. A study by the Indian Statistical Institute had estimated counterfeit currency to be a minuscule proportion of total currency. Hence, the sudden demonetisation of 85% of the country&rsquo;s currency for the sake of getting rid of a minuscule amount of counterfeit currency could not be taken seriously as an argument.</p><p style="text-align:justify">Likewise, terror funding occurs through diverse routes and nobody seriously thought that demonetisation would stop terror funding or even hurt it temporarily. The real objective was to eliminate black money; and believing that demonetisation would do so, betrays the Modi government&rsquo;s total lack of understanding of the black economy, and hence of the economy in general.</p><p style="text-align:justify">Please <a href="https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts" title="https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts">click here</a> to read more.&nbsp;</p>                                                           
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    <br><a href="https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts" class="re" target="_blank">Newsclick.in, 8 November, 2022, https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts</a><div class="clear"></div>
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Demonetisation has Been an Utter Failure on all Fronts -Prabhat Patnaik

Published on Nov 8, 2022   Modified on Nov 9, 2022

-Newsclick.in None of its stated objectives have been met and the entire exercise has turned out to be a mere act of converting old notes into new ones, at great inconvenience to the people. In the entire history of post-Independence India, no single economic measure has been as devastating for the people and as utterly futile in achieving its stated objectives, as the demonetisation of currency notes of Rs 500 and Rs 1,000 denomination, decreed by the Narendra Modi government on November 8, 2016. The fact that it did not achieve its stated objectives was not unforeseen. On the contrary, it was obvious to every economist that demonetisation was the height of folly even as it was announced, which is why it was opposed by all, except a handful of “climbers” keen to please the government. The government had mentioned three objectives of the move: to eliminate black money, to get rid of counterfeit notes and to attack terror funding. Of these, the last two were add-ons that everybody knew did not carry much credibility. A study by the Indian Statistical Institute had estimated counterfeit currency to be a minuscule proportion of total currency. Hence, the sudden demonetisation of 85% of the country’s currency for the sake of getting rid of a minuscule amount of counterfeit currency could not be taken seriously as an argument. Likewise, terror funding occurs through diverse routes and nobody seriously thought that demonetisation would stop terror funding or even hurt it temporarily. The real objective was to eliminate black money; and believing that demonetisation would do so, betrays the Modi government’s total lack of understanding of the black economy, and hence of the economy in general. Please click here to read more.

Newsclick.in, 8 November, 2022, https://www.newsclick.in/REPLUG-demonetisation-been-utter-failure-all-fronts

Tagged with: Demonetisation Corruption Black Money Black Economy Terror funding Currency in Circulation

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