-The Economic Times "Demonetisation in a booming economy is like shooting at the tyres of a racing car," says development economist Jean Drèze . A leading advocate of welfare policies, Drèze who was a member of the National Advisory Council during the UPA regime, tells ET that the sudden move to demonetize high-value currency notes has created a scary situation for people who live on the margin of subsistence, and that...
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No, the poor aren't sleeping peacefully -Salil Tripathi
-Livemint.com The rich and the middle class have their digital wallets and credit cards; they can afford to wait two weeks, even 50 days, for their money to be exchanged One has to be astonishingly callous or exceptionally removed from reality to think that the poor are sleeping peacefully and only the rich are frightened, needing sleeping PILls in the wake of the great currency-exchange drama playing out in India. For that’s...
More »Prabhat Patnaik, economist and professor emeritus at Jawaharlal Nehru University, interviewed by Jahnavi Sen
-TheWire.in In conversation with economist Prabhat Patnaik on the government’s decision to demonetise Rs 500 and Rs 1000 notes. On November 8, Prime Minister Narendra Modi addressed the nation at 8 pm and announced that Rs 500 and Rs 1000 notes would no longer be legal tender after midnight that night. This move was needed to tackle the “disease of black money,” he said. Since then, their have been numerous reports of how...
More »Show me the money -Ila Patnaik
-The Indian Express Ban on Rs 500, Rs 1000 notes deals with stocks of black money. But push to a cashless economy is premature. The sudden and dramatic announcement by the prime minister banning Rs 500 and Rs 1,000 notes issued by the Reserve Bank of India has a number of objectives. Among them are tackling counterfeit notes, curbing black money and restricting finance for subversive activities. While progress will be made by...
More »Demonetization: Witless and Anti-People -Prabhat Patnaik
-TheCitizen.in NEW DELHI: Narendra Modi went on national television at 8 p.m. on November 8 to announce that from midnight of that very date, i.e. in a mere four hours’ time, 500 and 1000 rupee notes would cease to be legal-tender. The justification advanced for this bizarre move was that it would strike at “black money”. An additional argument was thrown in, to the effect that fake currency notes used by “terrorists”...
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