-PTI NEW DELHI: The Reserve Bank of India (RBI) is not using 'counting machines' for tallying the total number of demonetised notes of Rs 500 and Rs 1,000 in any of its offices, the central bank has said in an RTI reply. Rather, it is using "sophisticated Currency Verification and Processing (CVPS) machines for checking the numerical accuracy and genuiness of the currency notes, including SBNs (Specified Bank Notes that have...
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Rural job rush after slowdown -Basant Kumar Mohanty
-The Telegraph New Delhi: The demand for work under the rural job scheme has risen this financial year, with economists and social activists attributing it to the economic slowdown and the spectre of a drought in south India. The Mahatma Gandhi National Rural Employment Guarantee scheme has already generated 119 crore persondays in the first five months of the financial year, data on the rural development ministry's website show. This is 55...
More »55,000 Anganwadi workers to get smartphones for better performance
-The New Indian Express VIJAYAWADA: Over 55,000 Anganwadi workers in the State will get smartphones from the Central government soon. Already, training for the use of those smartphones has commenced from September 1 and in a phased manner, the smartphones will be issued to the Anganwadi workers from the first week of October. The smartphones -- Karbonn smartphones -- are keeping in tune with ‘Make In India’ concept of the Centre. ...
More »DeMo was ethically flawed -A Srinivas & Sandhya Rao
-The Hindu Business Line The possible gain arising out of tax compliance has come at too high a human cost ‘There are three kinds of lies: lies, damned lies, and statistics.’ – Benjamin Disraeli After the RBI’s latest revelations — of 99 per cent of the extinguished currency having returned to the banks — media pundits and economists have wasted no time in saying that efforts to obliterate black money have failed. However,...
More »Lucas Chancel, economist working on inequality, interviewed by Sanjay Vijayakumar (The Hindu)
-The Hindu The top 1% of earners captured less than 21% of total income in the late 1930s, before dropping to 6% in the early 1980s and rising to 22% today, says renowned economist Lucas Chancel According to a research paper by renowned economists Thomas Piketty and Lucas Chancel, income inequality in India is at its highest level since 1922, the year the Income Tax Act was passed. In December, they will...
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