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
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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 | Social impact of demonetisation may have been greater: World Bank    </title>
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-The Hindu 

Greater data availability, especially on labour markets, needed to better gauge social impact of such policies

The World Bank has said the social impact of demonetisation may have been greater as the informal economy was likely to have been..."/>
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-The Hindu 

Greater data availability, especially on labour markets, needed to better gauge social impact of such policies

The World Bank has said the social impact of demonetisation may have been greater as the informal economy was likely to have been..." />
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                            <div align="justify">-The Hindu <br /><br /><em>Greater data availability, especially on labour markets, needed to better gauge social impact of such policies<br /></em><br />The World Bank has said the social impact of demonetisation may have been greater as the informal economy was likely to have been hit especially hard. However, the Bank said the impact of demonetisation on the informal economy was difficult to measure and greater data availability, especially on labour markets, is needed to better gauge the social impact of such policies in the future.<br /><br />In its India Development Update released on Monday, the Bank said there were &ldquo;statistical issues that mask some of the impact of demonetisation on measured economic growth in Q3 (third quarter of 2016-2017).&rdquo; The government had on November 8, 2016 announced that existing Rs. 500 and Rs. 1000 banknotes, corresponding to 86 per cent of India&rsquo;s currency in circulation by value, had been &ldquo;demonetised&rdquo; &ndash; that is, ceased to be legal tender.<br /><br />Noting that demonetization caused an immediate cash crunch and that activity in cash-reliant sectors was affected, the Bank said India&rsquo;s GDP growth slowed to 7% per cent year-on-year during the third quarter of 2016-2017 from 7.3 per cent in the first quarter. As a result, a modest slowdown is expected in the GDP growth in 2016-2017 to 6.8 per cent. According to the Update, growth is expected to recover in 2017-2018 to 7.2 per cent and is projected to gradually increase to 7.7 per cent in 2019-2020.<br /><br />The Bank said: &ldquo;While the macro-economic impact of demonetisation has been relatively limited, the distribution of costs is uneven as the informal economy is likely to have been hit especially hard.&rdquo; The report said although the informal economy may account for only 40 per cent of (India&rsquo;s) GDP, it employs 90 per centy of India&rsquo;s workers, and the disproportionate impact of demonetisation on India&rsquo;s informal sector suggests that it would have affected those workers the most. The poor and vulnerable are more likely to work in informal sectors such as farming small retail and construction, and are less able to move to non-cash payments, the Bank said.<br /><br />Demand for guaranteed employment up to February 2017 exceeded the full year of 2015-16 and rural consumption (in particular, sales of two-wheelers) contracted sharply in November, it said. However, it said, in the long-term, demonetization has the potential to accelerate the formalisation of the economy. The implementation of the GST is a key complementary reform that will support formalisation, as firms have a strong incentive to register with GST to obtain input tax credits, the Update added.<br /><br />Please <a href="http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece" title="http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece" class="re" target="_blank">The Hindu, 29 May, 2017, http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece</a><div class="clear"></div>
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                            <div align="justify">-The Hindu <br /><br /><em>Greater data availability, especially on labour markets, needed to better gauge social impact of such policies<br /></em><br />The World Bank has said the social impact of demonetisation may have been greater as the informal economy was likely to have been hit especially hard. However, the Bank said the impact of demonetisation on the informal economy was difficult to measure and greater data availability, especially on labour markets, is needed to better gauge the social impact of such policies in the future.<br /><br />In its India Development Update released on Monday, the Bank said there were &ldquo;statistical issues that mask some of the impact of demonetisation on measured economic growth in Q3 (third quarter of 2016-2017).&rdquo; The government had on November 8, 2016 announced that existing Rs. 500 and Rs. 1000 banknotes, corresponding to 86 per cent of India&rsquo;s currency in circulation by value, had been &ldquo;demonetised&rdquo; &ndash; that is, ceased to be legal tender.<br /><br />Noting that demonetization caused an immediate cash crunch and that activity in cash-reliant sectors was affected, the Bank said India&rsquo;s GDP growth slowed to 7% per cent year-on-year during the third quarter of 2016-2017 from 7.3 per cent in the first quarter. As a result, a modest slowdown is expected in the GDP growth in 2016-2017 to 6.8 per cent. According to the Update, growth is expected to recover in 2017-2018 to 7.2 per cent and is projected to gradually increase to 7.7 per cent in 2019-2020.<br /><br />The Bank said: &ldquo;While the macro-economic impact of demonetisation has been relatively limited, the distribution of costs is uneven as the informal economy is likely to have been hit especially hard.&rdquo; The report said although the informal economy may account for only 40 per cent of (India&rsquo;s) GDP, it employs 90 per centy of India&rsquo;s workers, and the disproportionate impact of demonetisation on India&rsquo;s informal sector suggests that it would have affected those workers the most. The poor and vulnerable are more likely to work in informal sectors such as farming small retail and construction, and are less able to move to non-cash payments, the Bank said.<br /><br />Demand for guaranteed employment up to February 2017 exceeded the full year of 2015-16 and rural consumption (in particular, sales of two-wheelers) contracted sharply in November, it said. However, it said, in the long-term, demonetization has the potential to accelerate the formalisation of the economy. The implementation of the GST is a key complementary reform that will support formalisation, as firms have a strong incentive to register with GST to obtain input tax credits, the Update added.<br /><br />Please <a href="http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece" title="http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece" class="re" target="_blank">The Hindu, 29 May, 2017, http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece</a><div class="clear"></div>
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        LATEST NEWS UPDATES | Social impact of demonetisation may have been greater: World Bank    </title>
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Greater data availability, especially on labour markets, needed to better gauge social impact of such policies

The World Bank has said the social impact of demonetisation may have been greater as the informal economy was likely to have been..."/>
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    <h1 class="cat-box-title">Social impact of demonetisation may have been greater: World Bank</h1>
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                            <div align="justify">-The Hindu <br /><br /><em>Greater data availability, especially on labour markets, needed to better gauge social impact of such policies<br /></em><br />The World Bank has said the social impact of demonetisation may have been greater as the informal economy was likely to have been hit especially hard. However, the Bank said the impact of demonetisation on the informal economy was difficult to measure and greater data availability, especially on labour markets, is needed to better gauge the social impact of such policies in the future.<br /><br />In its India Development Update released on Monday, the Bank said there were &ldquo;statistical issues that mask some of the impact of demonetisation on measured economic growth in Q3 (third quarter of 2016-2017).&rdquo; The government had on November 8, 2016 announced that existing Rs. 500 and Rs. 1000 banknotes, corresponding to 86 per cent of India&rsquo;s currency in circulation by value, had been &ldquo;demonetised&rdquo; &ndash; that is, ceased to be legal tender.<br /><br />Noting that demonetization caused an immediate cash crunch and that activity in cash-reliant sectors was affected, the Bank said India&rsquo;s GDP growth slowed to 7% per cent year-on-year during the third quarter of 2016-2017 from 7.3 per cent in the first quarter. As a result, a modest slowdown is expected in the GDP growth in 2016-2017 to 6.8 per cent. According to the Update, growth is expected to recover in 2017-2018 to 7.2 per cent and is projected to gradually increase to 7.7 per cent in 2019-2020.<br /><br />The Bank said: &ldquo;While the macro-economic impact of demonetisation has been relatively limited, the distribution of costs is uneven as the informal economy is likely to have been hit especially hard.&rdquo; The report said although the informal economy may account for only 40 per cent of (India&rsquo;s) GDP, it employs 90 per centy of India&rsquo;s workers, and the disproportionate impact of demonetisation on India&rsquo;s informal sector suggests that it would have affected those workers the most. The poor and vulnerable are more likely to work in informal sectors such as farming small retail and construction, and are less able to move to non-cash payments, the Bank said.<br /><br />Demand for guaranteed employment up to February 2017 exceeded the full year of 2015-16 and rural consumption (in particular, sales of two-wheelers) contracted sharply in November, it said. However, it said, in the long-term, demonetization has the potential to accelerate the formalisation of the economy. The implementation of the GST is a key complementary reform that will support formalisation, as firms have a strong incentive to register with GST to obtain input tax credits, the Update added.<br /><br />Please <a href="http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece" title="http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece" class="re" target="_blank">The Hindu, 29 May, 2017, http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece</a><div class="clear"></div>
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Home हिन्दी

Social impact of demonetisation may have been greater: World Bank

Published on May 30, 2017   Modified on May 30, 2017

-The Hindu Greater data availability, especially on labour markets, needed to better gauge social impact of such policies The World Bank has said the social impact of demonetisation may have been greater as the informal economy was likely to have been hit especially hard. However, the Bank said the impact of demonetisation on the informal economy was difficult to measure and greater data availability, especially on labour markets, is needed to better gauge the social impact of such policies in the future. In its India Development Update released on Monday, the Bank said there were “statistical issues that mask some of the impact of demonetisation on measured economic growth in Q3 (third quarter of 2016-2017).” The government had on November 8, 2016 announced that existing Rs. 500 and Rs. 1000 banknotes, corresponding to 86 per cent of India’s currency in circulation by value, had been “demonetised” – that is, ceased to be legal tender. Noting that demonetization caused an immediate cash crunch and that activity in cash-reliant sectors was affected, the Bank said India’s GDP growth slowed to 7% per cent year-on-year during the third quarter of 2016-2017 from 7.3 per cent in the first quarter. As a result, a modest slowdown is expected in the GDP growth in 2016-2017 to 6.8 per cent. According to the Update, growth is expected to recover in 2017-2018 to 7.2 per cent and is projected to gradually increase to 7.7 per cent in 2019-2020. The Bank said: “While the macro-economic impact of demonetisation has been relatively limited, the distribution of costs is uneven as the informal economy is likely to have been hit especially hard.” The report said although the informal economy may account for only 40 per cent of (India’s) GDP, it employs 90 per centy of India’s workers, and the disproportionate impact of demonetisation on India’s informal sector suggests that it would have affected those workers the most. The poor and vulnerable are more likely to work in informal sectors such as farming small retail and construction, and are less able to move to non-cash payments, the Bank said. Demand for guaranteed employment up to February 2017 exceeded the full year of 2015-16 and rural consumption (in particular, sales of two-wheelers) contracted sharply in November, it said. However, it said, in the long-term, demonetization has the potential to accelerate the formalisation of the economy. The implementation of the GST is a key complementary reform that will support formalisation, as firms have a strong incentive to register with GST to obtain input tax credits, the Update added. Please click here to read more.

The Hindu, 29 May, 2017, http://www.thehindu.com/business/Economy/social-impact-of-demonetisation-may-have-been-greater-world-bank/article18618654.ece

Tagged with: Cash shortage informal economy informal employment Demonetisation

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