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 | Shock and oh damn -Pronab Sen    </title>
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-Ideas for India

In this article, Pronab Sen, Country Director for the India Central Programme of the International Growth Centre, argues that India&rsquo;s recent demonetisation has penalised virtually the entire informal sector, and perhaps damaged it permanently.

At the stroke of the..."/>
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-Ideas for India

In this article, Pronab Sen, Country Director for the India Central Programme of the International Growth Centre, argues that India&rsquo;s recent demonetisation has penalised virtually the entire informal sector, and perhaps damaged it permanently.

At the stroke of the..." />
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                            <div align="justify">-Ideas for India<br /><br /><em>In this article, Pronab Sen, Country Director for the India Central Programme of the International Growth Centre, argues that India&rsquo;s recent demonetisation has penalised virtually the entire informal sector, and perhaps damaged it permanently.<br /></em><br />At the stroke of the midnight hour of 9 November 2016, India lost 86% of its monetary base. The media &ndash; print, electronic and social &ndash; has been fulsome in its praise of Prime Minister Modi&rsquo;s &ldquo;master stroke&rdquo;, by which he has reportedly destroyed the base of corruption in India. &ldquo;Surgical strike&rdquo;, &ldquo;shock and awe&rdquo;, &ldquo;big bang reform&rdquo; are only a few of the laudatory phrases used to describe the pre-emptive demonetisation of 500 and 1,000 rupee notes. There is no doubt whatsoever that Mr. Modi has pulled off a major political and publicity coup and substantially enhanced his reputation as a muscular leader, but surely somebody needs to ask: at what price?<br /><br />Let me begin with the supposed gains from this measure. At the heart of all the rejoicing is the assumption that all those who have accumulated substantial amounts of ill-gotten wealth keep their takings in the form of cash, and use this cash to amass even more ill-gotten wealth through the black or parallel economy in an ever-growing spiral. If this is indeed true, then the demonetisation will certainly have a huge positive impact on the state of the Indian economy by choking off the stock of liquidity which finances black activities. Unfortunately, this assumption is only partially, and not even substantially, true. While there are certain criminal activities (such as smuggling, drug peddling, gun running, etc.) that follow this pattern, they collectively account for a miniscule fraction of what is commonly understood as &lsquo;black money&rsquo;. The really big bucks come from two other activities &ndash; corruption and tax evasion.<br /><br />Please <a href="http://www.ideasforindia.in/article.aspx?article_id=1720" title="http://www.ideasforindia.in/article.aspx?article_id=1720">click here</a> to read more. </div><div align="justify">&nbsp;</div>                                                           
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    <br><a href="http://www.ideasforindia.in/article.aspx?article_id=1720" class="re" target="_blank">Ideas for India, 14 November, 2016, http://www.ideasforindia.in/article.aspx?article_id=1720</a><div class="clear"></div>
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In this article, Pronab Sen, Country Director for the India Central Programme of the International Growth Centre, argues that India&rsquo;s recent demonetisation has penalised virtually the entire informal sector, and perhaps damaged it permanently.

At the stroke of the..."/>
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At the stroke of the..." />
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                            <div align="justify">-Ideas for India<br /><br /><em>In this article, Pronab Sen, Country Director for the India Central Programme of the International Growth Centre, argues that India&rsquo;s recent demonetisation has penalised virtually the entire informal sector, and perhaps damaged it permanently.<br /></em><br />At the stroke of the midnight hour of 9 November 2016, India lost 86% of its monetary base. The media &ndash; print, electronic and social &ndash; has been fulsome in its praise of Prime Minister Modi&rsquo;s &ldquo;master stroke&rdquo;, by which he has reportedly destroyed the base of corruption in India. &ldquo;Surgical strike&rdquo;, &ldquo;shock and awe&rdquo;, &ldquo;big bang reform&rdquo; are only a few of the laudatory phrases used to describe the pre-emptive demonetisation of 500 and 1,000 rupee notes. There is no doubt whatsoever that Mr. Modi has pulled off a major political and publicity coup and substantially enhanced his reputation as a muscular leader, but surely somebody needs to ask: at what price?<br /><br />Let me begin with the supposed gains from this measure. At the heart of all the rejoicing is the assumption that all those who have accumulated substantial amounts of ill-gotten wealth keep their takings in the form of cash, and use this cash to amass even more ill-gotten wealth through the black or parallel economy in an ever-growing spiral. If this is indeed true, then the demonetisation will certainly have a huge positive impact on the state of the Indian economy by choking off the stock of liquidity which finances black activities. Unfortunately, this assumption is only partially, and not even substantially, true. While there are certain criminal activities (such as smuggling, drug peddling, gun running, etc.) that follow this pattern, they collectively account for a miniscule fraction of what is commonly understood as &lsquo;black money&rsquo;. The really big bucks come from two other activities &ndash; corruption and tax evasion.<br /><br />Please <a href="http://www.ideasforindia.in/article.aspx?article_id=1720" title="http://www.ideasforindia.in/article.aspx?article_id=1720">click here</a> to read more. </div><div align="justify">&nbsp;</div>                                                           
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    <br><a href="http://www.ideasforindia.in/article.aspx?article_id=1720" class="re" target="_blank">Ideas for India, 14 November, 2016, http://www.ideasforindia.in/article.aspx?article_id=1720</a><div class="clear"></div>
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In this article, Pronab Sen, Country Director for the India Central Programme of the International Growth Centre, argues that India&rsquo;s recent demonetisation has penalised virtually the entire informal sector, and perhaps damaged it permanently.

At the stroke of the..."/>
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At the stroke of the..." />
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                            <div align="justify">-Ideas for India<br /><br /><em>In this article, Pronab Sen, Country Director for the India Central Programme of the International Growth Centre, argues that India&rsquo;s recent demonetisation has penalised virtually the entire informal sector, and perhaps damaged it permanently.<br /></em><br />At the stroke of the midnight hour of 9 November 2016, India lost 86% of its monetary base. The media &ndash; print, electronic and social &ndash; has been fulsome in its praise of Prime Minister Modi&rsquo;s &ldquo;master stroke&rdquo;, by which he has reportedly destroyed the base of corruption in India. &ldquo;Surgical strike&rdquo;, &ldquo;shock and awe&rdquo;, &ldquo;big bang reform&rdquo; are only a few of the laudatory phrases used to describe the pre-emptive demonetisation of 500 and 1,000 rupee notes. There is no doubt whatsoever that Mr. Modi has pulled off a major political and publicity coup and substantially enhanced his reputation as a muscular leader, but surely somebody needs to ask: at what price?<br /><br />Let me begin with the supposed gains from this measure. At the heart of all the rejoicing is the assumption that all those who have accumulated substantial amounts of ill-gotten wealth keep their takings in the form of cash, and use this cash to amass even more ill-gotten wealth through the black or parallel economy in an ever-growing spiral. If this is indeed true, then the demonetisation will certainly have a huge positive impact on the state of the Indian economy by choking off the stock of liquidity which finances black activities. Unfortunately, this assumption is only partially, and not even substantially, true. While there are certain criminal activities (such as smuggling, drug peddling, gun running, etc.) that follow this pattern, they collectively account for a miniscule fraction of what is commonly understood as &lsquo;black money&rsquo;. The really big bucks come from two other activities &ndash; corruption and tax evasion.<br /><br />Please <a href="http://www.ideasforindia.in/article.aspx?article_id=1720" title="http://www.ideasforindia.in/article.aspx?article_id=1720">click here</a> to read more. </div><div align="justify">&nbsp;</div>                                                           
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    <br><a href="http://www.ideasforindia.in/article.aspx?article_id=1720" class="re" target="_blank">Ideas for India, 14 November, 2016, http://www.ideasforindia.in/article.aspx?article_id=1720</a><div class="clear"></div>
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Shock and oh damn -Pronab Sen

Published on Nov 14, 2016   Modified on Nov 14, 2016

-Ideas for India In this article, Pronab Sen, Country Director for the India Central Programme of the International Growth Centre, argues that India’s recent demonetisation has penalised virtually the entire informal sector, and perhaps damaged it permanently. At the stroke of the midnight hour of 9 November 2016, India lost 86% of its monetary base. The media – print, electronic and social – has been fulsome in its praise of Prime Minister Modi’s “master stroke”, by which he has reportedly destroyed the base of corruption in India. “Surgical strike”, “shock and awe”, “big bang reform” are only a few of the laudatory phrases used to describe the pre-emptive demonetisation of 500 and 1,000 rupee notes. There is no doubt whatsoever that Mr. Modi has pulled off a major political and publicity coup and substantially enhanced his reputation as a muscular leader, but surely somebody needs to ask: at what price? Let me begin with the supposed gains from this measure. At the heart of all the rejoicing is the assumption that all those who have accumulated substantial amounts of ill-gotten wealth keep their takings in the form of cash, and use this cash to amass even more ill-gotten wealth through the black or parallel economy in an ever-growing spiral. If this is indeed true, then the demonetisation will certainly have a huge positive impact on the state of the Indian economy by choking off the stock of liquidity which finances black activities. Unfortunately, this assumption is only partially, and not even substantially, true. While there are certain criminal activities (such as smuggling, drug peddling, gun running, etc.) that follow this pattern, they collectively account for a miniscule fraction of what is commonly understood as ‘black money’. The really big bucks come from two other activities – corruption and tax evasion. Please click here to read more.

Ideas for India, 14 November, 2016, http://www.ideasforindia.in/article.aspx?article_id=1720

Tagged with: Currency demonetisation Demonetisation black money Illicit wealth Underground economy

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