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


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\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 | Queues of pain for tiny gain on black money? -Subodh Varma    </title>
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                            <div align="justify">-The Times of India<br /><br /><em>NEW DELHI: </em>The aam aadmi putting up with the widespread distress and economic loss caused by declaring invalid all Rs 500 and Rs 1,000 currency notes sees a positive side to the move &mdash; it will unearth and stamp out black money. This is one of the stated objectives in the government's notification of November. There is also the target of finishing off fake currency, which harms the economy and is used by terrorists.<br /><br />With 12 cash-starved days gone, questions are emerging on whether these objectives will be met. And if not, is all this pain for nothing?<br /><br />Although there are no exact figures, estimates for black money range from 20-66% of the GDP. That is, anywhere between Rs 27 lakh crore and Rs 90 lakh crore.<br /><br />So, is all this going to be unearthed by the present demonetisation?<br /><br />No, it can't &mdash; because not all of this is in cash. According to various past government reports, black money exists in the form of different kinds of assets like benami properties, bullion, shares etc. Then there is one component stashed away in foreign tax havens. Only a fraction of the total black money is hoarded as cash.<br /><br />There are no estimates for what share of black money exists as illegal cash hoards, says R Ramakumar, dean at Mumbai's Tata Institute of Social Sciences. &quot;Another part of the illegal earnings is seamlessly transferred as capital invested in productive activities,&quot; he explained.<br /><br />A committee on 'Measures to Tackle Black Money in India and Abroad', set up by the finance ministry in 2012 and headed by the chairman of Central Board of Direct Taxes (CBDT) had said that &quot;demonetisation may not be a solution for tackling black money in the economy, which is largely held in the form of benami properties, bullion and jewellery etc.&quot; <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms" title="http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms" class="re" target="_blank">The Times of India, 21 November, 2016, http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms</a><div class="clear"></div>
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    <h1 class="cat-box-title">Queues of pain for tiny gain on black money? -Subodh Varma</h1>
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                            <div align="justify">-The Times of India<br /><br /><em>NEW DELHI: </em>The aam aadmi putting up with the widespread distress and economic loss caused by declaring invalid all Rs 500 and Rs 1,000 currency notes sees a positive side to the move &mdash; it will unearth and stamp out black money. This is one of the stated objectives in the government's notification of November. There is also the target of finishing off fake currency, which harms the economy and is used by terrorists.<br /><br />With 12 cash-starved days gone, questions are emerging on whether these objectives will be met. And if not, is all this pain for nothing?<br /><br />Although there are no exact figures, estimates for black money range from 20-66% of the GDP. That is, anywhere between Rs 27 lakh crore and Rs 90 lakh crore.<br /><br />So, is all this going to be unearthed by the present demonetisation?<br /><br />No, it can't &mdash; because not all of this is in cash. According to various past government reports, black money exists in the form of different kinds of assets like benami properties, bullion, shares etc. Then there is one component stashed away in foreign tax havens. Only a fraction of the total black money is hoarded as cash.<br /><br />There are no estimates for what share of black money exists as illegal cash hoards, says R Ramakumar, dean at Mumbai's Tata Institute of Social Sciences. &quot;Another part of the illegal earnings is seamlessly transferred as capital invested in productive activities,&quot; he explained.<br /><br />A committee on 'Measures to Tackle Black Money in India and Abroad', set up by the finance ministry in 2012 and headed by the chairman of Central Board of Direct Taxes (CBDT) had said that &quot;demonetisation may not be a solution for tackling black money in the economy, which is largely held in the form of benami properties, bullion and jewellery etc.&quot; <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms" title="http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms" class="re" target="_blank">The Times of India, 21 November, 2016, http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms</a><div class="clear"></div>
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    <h1 class="cat-box-title">Queues of pain for tiny gain on black money? -Subodh Varma</h1>
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                            <div align="justify">-The Times of India<br /><br /><em>NEW DELHI: </em>The aam aadmi putting up with the widespread distress and economic loss caused by declaring invalid all Rs 500 and Rs 1,000 currency notes sees a positive side to the move &mdash; it will unearth and stamp out black money. This is one of the stated objectives in the government's notification of November. There is also the target of finishing off fake currency, which harms the economy and is used by terrorists.<br /><br />With 12 cash-starved days gone, questions are emerging on whether these objectives will be met. And if not, is all this pain for nothing?<br /><br />Although there are no exact figures, estimates for black money range from 20-66% of the GDP. That is, anywhere between Rs 27 lakh crore and Rs 90 lakh crore.<br /><br />So, is all this going to be unearthed by the present demonetisation?<br /><br />No, it can't &mdash; because not all of this is in cash. According to various past government reports, black money exists in the form of different kinds of assets like benami properties, bullion, shares etc. Then there is one component stashed away in foreign tax havens. Only a fraction of the total black money is hoarded as cash.<br /><br />There are no estimates for what share of black money exists as illegal cash hoards, says R Ramakumar, dean at Mumbai's Tata Institute of Social Sciences. &quot;Another part of the illegal earnings is seamlessly transferred as capital invested in productive activities,&quot; he explained.<br /><br />A committee on 'Measures to Tackle Black Money in India and Abroad', set up by the finance ministry in 2012 and headed by the chairman of Central Board of Direct Taxes (CBDT) had said that &quot;demonetisation may not be a solution for tackling black money in the economy, which is largely held in the form of benami properties, bullion and jewellery etc.&quot; <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms" title="http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms" class="re" target="_blank">The Times of India, 21 November, 2016, http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms</a><div class="clear"></div>
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Queues of pain for tiny gain on black money? -Subodh Varma

Published on Nov 21, 2016   Modified on Nov 21, 2016

-The Times of India NEW DELHI: The aam aadmi putting up with the widespread distress and economic loss caused by declaring invalid all Rs 500 and Rs 1,000 currency notes sees a positive side to the move — it will unearth and stamp out black money. This is one of the stated objectives in the government's notification of November. There is also the target of finishing off fake currency, which harms the economy and is used by terrorists. With 12 cash-starved days gone, questions are emerging on whether these objectives will be met. And if not, is all this pain for nothing? Although there are no exact figures, estimates for black money range from 20-66% of the GDP. That is, anywhere between Rs 27 lakh crore and Rs 90 lakh crore. So, is all this going to be unearthed by the present demonetisation? No, it can't — because not all of this is in cash. According to various past government reports, black money exists in the form of different kinds of assets like benami properties, bullion, shares etc. Then there is one component stashed away in foreign tax havens. Only a fraction of the total black money is hoarded as cash. There are no estimates for what share of black money exists as illegal cash hoards, says R Ramakumar, dean at Mumbai's Tata Institute of Social Sciences. "Another part of the illegal earnings is seamlessly transferred as capital invested in productive activities," he explained. A committee on 'Measures to Tackle Black Money in India and Abroad', set up by the finance ministry in 2012 and headed by the chairman of Central Board of Direct Taxes (CBDT) had said that "demonetisation may not be a solution for tackling black money in the economy, which is largely held in the form of benami properties, bullion and jewellery etc." Please click here to read more.

The Times of India, 21 November, 2016, http://timesofindia.indiatimes.com/india/Queues-of-pain-for-tiny-gain-on-black-money/articleshow/55532113.cms

Tagged with: Currency demonetisation Demonetisation Counterfeit Currency Fake Currency black money Black Economy Underground economy

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