-Livemint.com Cash scarcity led to a spike in digital payments post demonetisation, but the trend reversed as remonetisation picked up pace New Delhi: Soon after demonetisation was announced on 8 November last year, it was projected as part of a broader push towards a Cashless economy. Several ministers and government officials claimed that this would nudge Indians to rely on non-Cash or digital payments. In the weeks and months following demonetisation, digital payments...
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Demonetisation anniversary: Why less Cash in itself may not necessarily mean less black money -Sunny Verma
-The Indian Express It can also mean other things such as currency shortage, transaction mode shift. The government has presented a lower Cash-to-GDP ratio as a key achievement of demonetisation, and a measure of black money being checked. Economists, however, caution against reading this metric in isolation. Prime Minister Narendra Modi said last month that the Cash-to-GDP ratio is down to 9% after demonetisation, from over 12% earlier. “Was it possible if a...
More »Cash still king as digital payments inch up slowly -Rachel Chitra
-The Times of India CHENNAI: If demonetisation was a push for a Cashless economy, it has been working very slowly. Reserve Bank of India data shows the usage of wallets, non-UPI banking apps and Aadhaar-enabled payments has been slow to catch on, while that of debit cards has fallen. The UPI payments have been growing, and a significant chunk of them are mobile-based. Overall, electronic payments stood at Rs 200 trillion in...
More »Jean Dreze, development economist, interviewed by Ankita Virmani (Firstpost.com)
-Firstpost.com Development economist Jean Dreze has been vociferous critic of the Narendra Modi government's demonetisation of Rs 500 and Rs 1,000 notes a year back. He had famously warned that "demonetisation in a booming economy is like shooting at the tyres of a racing car". A year on, it seems his caution has come true. In the first quarter of the current financial year, the GDP growth slowed to a three-year...
More »Health insurance scheme ailing as no. of states covered falls to 15 -Christin Mathew Philip
-The Times of India BENGALURU: In last year's budget, Union finance minister Arun Jaitley promised a health cover of Rs 1 lakh per poor family under the National Health Protection Scheme, which was meant to replace the UPA government's Rashtriya Swasthya Bima Yojana (RSBY). However, with the programme yet to see the light of day, the Centre is forced to continue with RSBY, which seems to be losing ground. An RTI application...
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