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
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
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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\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

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


        trigger_error($message, E_USER_DEPRECATED);

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

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

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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Raghuram Rajan makes the disclosure in his latest book -- I do what I do &ndash; which is a compilation of speeches he delivered on a wide range of issues as the RBI governor. 

Former RBI governor Raghuram Rajan..."/>
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Raghuram Rajan makes the disclosure in his latest book -- I do what I do &ndash; which is a compilation of speeches he delivered on a wide range of issues as the RBI governor. 

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    <h1 class="cat-box-title">Raghuram Rajan breaks silence, says he wasn&#039;t on board for demonetisation -Rajesh Mahapatra</h1>
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		 Published on</span><span class="text-date"> Sep 3, 2017</span>
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                            <div align="justify">-Hindustan Times<br /><br /><em>Raghuram Rajan makes the disclosure in his latest book -- I do what I do &ndash; which is a compilation of speeches he delivered on a wide range of issues as the RBI governor. <br /></em><br />Former RBI governor Raghuram Rajan has revealed that he did not favour demonetisation as he felt the short term economic costs associated with such a disruptive decision would outweigh any longer term benefits from it.<br /><br />Rajan makes the disclosure in his latest book &ndash; I do what I do &ndash; which is a compilation of speeches he delivered on wide range of issues as the RBI governor. Although he maintains the book is not a tell-all, the short introductions and postscripts accompanying the pieces offer fascinating insights into his uneasy relationship and differences with the present government.<br /><br />&ldquo;At no point during my term was the RBI asked to make a decision on demonetisation,&rdquo; Rajan has said, putting to rest speculation that preparations for scrapping high-value banknotes got underway many months before Prime Minister Narendra Modi made the surprise announcement on November 8.<br /><br />This is the first time the former RBI governor has spoken on demonetisation since demitting office on September 3 last year. Rajan, who now teaches economics at University of Chicago, said he chose not to speak on India for a year because he didn&rsquo;t want to &ldquo;intrude on his successor&rsquo;s initial engagement with the public&rdquo;.<br /><br />&ldquo;I was asked by the government in February 2016 for my view on demonetisation, which I gave orally. Although there might be long-term benefits, I felt the likely short-term economic costs would outweigh them,&rdquo; Rajan wrote.<br /><br />&ldquo;I made these views known in no uncertain terms.&rdquo;<br /><br />He didn&rsquo;t elaborate on the short-term costs or the possible long-term benefits, but as the RBI governor he &ldquo;felt there were alternatives to achieve the main goals.&rdquo;<br /><br />Latest government data showed the November 8 decision to scrap Rs 1,000 and Rs 500 notes, sucking out 86% of cash circulating in the system, has had a lingering impact on the economy.<br /><br />The growth of GDP slowed sharply from 7% in October-December quarter to 6.1% in January-March and 5.7% in April-June, primarily because of the cash squeeze that weakened consumer spending and discouraged businesses from making new investments.<br /><br />Please <a href="http://www.hindustantimes.com/india-news/raghuram-rajan-breaks-silence-says-he-wasn-t-on-board-for-demonetisation/story-6rXr8VWBpFd4w37NySulEN.html" title="http://www.hindustantimes.com/india-news/raghuram-rajan-breaks-silence-says-he-wasn-t-on-board-for-demonetisation/story-6rXr8VWBpFd4w37NySulEN.html">click here</a> to read more. </div><div align="justify">&nbsp;</div>                                                           
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    <br><a href="http://www.hindustantimes.com/india-news/raghuram-rajan-breaks-silence-says-he-wasn-t-on-board-for-demonetisation/story-6rXr8VWBpFd4w37NySulEN.html" class="re" target="_blank">Hindustan Times, 3 September, 2017, http://www.hindustantimes.com/india-news/raghuram-rajan-breaks-silence-says-he-wasn-t-on-board-for-demonetisation/story-6rXr8VWBpFd4w37NySulEN.html</a><div class="clear"></div>
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    <h1 class="cat-box-title">Raghuram Rajan breaks silence, says he wasn&#039;t on board for demonetisation -Rajesh Mahapatra</h1>
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                            <div align="justify">-Hindustan Times<br /><br /><em>Raghuram Rajan makes the disclosure in his latest book -- I do what I do &ndash; which is a compilation of speeches he delivered on a wide range of issues as the RBI governor. <br /></em><br />Former RBI governor Raghuram Rajan has revealed that he did not favour demonetisation as he felt the short term economic costs associated with such a disruptive decision would outweigh any longer term benefits from it.<br /><br />Rajan makes the disclosure in his latest book &ndash; I do what I do &ndash; which is a compilation of speeches he delivered on wide range of issues as the RBI governor. Although he maintains the book is not a tell-all, the short introductions and postscripts accompanying the pieces offer fascinating insights into his uneasy relationship and differences with the present government.<br /><br />&ldquo;At no point during my term was the RBI asked to make a decision on demonetisation,&rdquo; Rajan has said, putting to rest speculation that preparations for scrapping high-value banknotes got underway many months before Prime Minister Narendra Modi made the surprise announcement on November 8.<br /><br />This is the first time the former RBI governor has spoken on demonetisation since demitting office on September 3 last year. Rajan, who now teaches economics at University of Chicago, said he chose not to speak on India for a year because he didn&rsquo;t want to &ldquo;intrude on his successor&rsquo;s initial engagement with the public&rdquo;.<br /><br />&ldquo;I was asked by the government in February 2016 for my view on demonetisation, which I gave orally. Although there might be long-term benefits, I felt the likely short-term economic costs would outweigh them,&rdquo; Rajan wrote.<br /><br />&ldquo;I made these views known in no uncertain terms.&rdquo;<br /><br />He didn&rsquo;t elaborate on the short-term costs or the possible long-term benefits, but as the RBI governor he &ldquo;felt there were alternatives to achieve the main goals.&rdquo;<br /><br />Latest government data showed the November 8 decision to scrap Rs 1,000 and Rs 500 notes, sucking out 86% of cash circulating in the system, has had a lingering impact on the economy.<br /><br />The growth of GDP slowed sharply from 7% in October-December quarter to 6.1% in January-March and 5.7% in April-June, primarily because of the cash squeeze that weakened consumer spending and discouraged businesses from making new investments.<br /><br />Please <a href="http://www.hindustantimes.com/india-news/raghuram-rajan-breaks-silence-says-he-wasn-t-on-board-for-demonetisation/story-6rXr8VWBpFd4w37NySulEN.html" title="http://www.hindustantimes.com/india-news/raghuram-rajan-breaks-silence-says-he-wasn-t-on-board-for-demonetisation/story-6rXr8VWBpFd4w37NySulEN.html">click here</a> to read more. </div><div align="justify">&nbsp;</div>                                                           
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-Hindustan Times

Raghuram Rajan makes the disclosure in his latest book -- I do what I do &ndash; which is a compilation of speeches he delivered on a wide range of issues as the RBI governor. 

Former RBI governor Raghuram Rajan..." />
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                            <div align="justify">-Hindustan Times<br /><br /><em>Raghuram Rajan makes the disclosure in his latest book -- I do what I do &ndash; which is a compilation of speeches he delivered on a wide range of issues as the RBI governor. <br /></em><br />Former RBI governor Raghuram Rajan has revealed that he did not favour demonetisation as he felt the short term economic costs associated with such a disruptive decision would outweigh any longer term benefits from it.<br /><br />Rajan makes the disclosure in his latest book &ndash; I do what I do &ndash; which is a compilation of speeches he delivered on wide range of issues as the RBI governor. Although he maintains the book is not a tell-all, the short introductions and postscripts accompanying the pieces offer fascinating insights into his uneasy relationship and differences with the present government.<br /><br />&ldquo;At no point during my term was the RBI asked to make a decision on demonetisation,&rdquo; Rajan has said, putting to rest speculation that preparations for scrapping high-value banknotes got underway many months before Prime Minister Narendra Modi made the surprise announcement on November 8.<br /><br />This is the first time the former RBI governor has spoken on demonetisation since demitting office on September 3 last year. Rajan, who now teaches economics at University of Chicago, said he chose not to speak on India for a year because he didn&rsquo;t want to &ldquo;intrude on his successor&rsquo;s initial engagement with the public&rdquo;.<br /><br />&ldquo;I was asked by the government in February 2016 for my view on demonetisation, which I gave orally. Although there might be long-term benefits, I felt the likely short-term economic costs would outweigh them,&rdquo; Rajan wrote.<br /><br />&ldquo;I made these views known in no uncertain terms.&rdquo;<br /><br />He didn&rsquo;t elaborate on the short-term costs or the possible long-term benefits, but as the RBI governor he &ldquo;felt there were alternatives to achieve the main goals.&rdquo;<br /><br />Latest government data showed the November 8 decision to scrap Rs 1,000 and Rs 500 notes, sucking out 86% of cash circulating in the system, has had a lingering impact on the economy.<br /><br />The growth of GDP slowed sharply from 7% in October-December quarter to 6.1% in January-March and 5.7% in April-June, primarily because of the cash squeeze that weakened consumer spending and discouraged businesses from making new investments.<br /><br />Please <a href="http://www.hindustantimes.com/india-news/raghuram-rajan-breaks-silence-says-he-wasn-t-on-board-for-demonetisation/story-6rXr8VWBpFd4w37NySulEN.html" title="http://www.hindustantimes.com/india-news/raghuram-rajan-breaks-silence-says-he-wasn-t-on-board-for-demonetisation/story-6rXr8VWBpFd4w37NySulEN.html">click here</a> to read more. </div><div align="justify">&nbsp;</div>                                                           
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Raghuram Rajan breaks silence, says he wasn't on board for demonetisation -Rajesh Mahapatra

Published on Sep 3, 2017   Modified on Sep 3, 2017

-Hindustan Times Raghuram Rajan makes the disclosure in his latest book -- I do what I do – which is a compilation of speeches he delivered on a wide range of issues as the RBI governor. Former RBI governor Raghuram Rajan has revealed that he did not favour demonetisation as he felt the short term economic costs associated with such a disruptive decision would outweigh any longer term benefits from it. Rajan makes the disclosure in his latest book – I do what I do – which is a compilation of speeches he delivered on wide range of issues as the RBI governor. Although he maintains the book is not a tell-all, the short introductions and postscripts accompanying the pieces offer fascinating insights into his uneasy relationship and differences with the present government. “At no point during my term was the RBI asked to make a decision on demonetisation,” Rajan has said, putting to rest speculation that preparations for scrapping high-value banknotes got underway many months before Prime Minister Narendra Modi made the surprise announcement on November 8. This is the first time the former RBI governor has spoken on demonetisation since demitting office on September 3 last year. Rajan, who now teaches economics at University of Chicago, said he chose not to speak on India for a year because he didn’t want to “intrude on his successor’s initial engagement with the public”. “I was asked by the government in February 2016 for my view on demonetisation, which I gave orally. Although there might be long-term benefits, I felt the likely short-term economic costs would outweigh them,” Rajan wrote. “I made these views known in no uncertain terms.” He didn’t elaborate on the short-term costs or the possible long-term benefits, but as the RBI governor he “felt there were alternatives to achieve the main goals.” Latest government data showed the November 8 decision to scrap Rs 1,000 and Rs 500 notes, sucking out 86% of cash circulating in the system, has had a lingering impact on the economy. The growth of GDP slowed sharply from 7% in October-December quarter to 6.1% in January-March and 5.7% in April-June, primarily because of the cash squeeze that weakened consumer spending and discouraged businesses from making new investments. Please click here to read more.

Hindustan Times, 3 September, 2017, http://www.hindustantimes.com/india-news/raghuram-rajan-breaks-silence-says-he-wasn-t-on-board-for-demonetisation/story-6rXr8VWBpFd4w37NySulEN.html

Tagged with: GDP estimates GDP growth GDP growth rate cash crunch cash deficit Currency demonetisation Demonetisation

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