-Frontline.in To rural India, which is already reeling under multiple crises, demonetisation has come as yet another blow. WHEN the Prime Minister made the decision to withdraw Rs.500 and Rs.1,000 notes, he did not quite factor in the impact it would have on agriculture. Despite the rhetoric the concept of digital wallets has not yet entered rural India unlike in much of the country’s urban areas, and much of rural and...
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Demonetisation cripples fishing industry in Bengal -Suvojit Bagchi
-The Hindu 'The buyers are tendering Rs. 1,000 notes, which is difficult for us to accept' North 24 Parganas: By about 4 a.m. all shops – about 170 – were open on both sides of an unkempt asphalt road. The shops that were selling fish at a wholesale rate were chock-a-block by 5 a.m.. But many of them were not engaging with the trading. They were small rural fish farmers and sellers, big...
More »In the Long Term Indians Might Lose Faith in Cash and Turn Towards Gold -Ravinder Kaur
-TheWire.in The spectacle of ‘fixing’ India’s illegal economy is not only harming common citizens but also turning small investors away from financial markets. Depending on who is talking, the demonetisation of higher value currency notes by Prime Minister Narendra Modi’s government has either been described by commentators as a ‘bold move’, ‘landmark policy’, ‘game-changer’ and even a ‘political masterstroke’ or has been labelled the single most high-risk political gamble undertaken since the...
More »Motive behind demonetisation is justifiable but there may be collateral damage
There are reports from all over the country that the recent decision by the government to demonetise currency notes of Rs. 500/- and Rs. 1000/- denomination has affected everyone. However the consequence of this financial measure is lopsided and it will be mainly borne by the farmers, informal sector workers, women and the financially excluded. Please check the links/ urls below this news alert to know everything about demonetisation. Till a few...
More »Dark clouds over the PDS -Jean Dreze
-The Hindu The imposition of Aadhaar-based biometric authentication in the Public Distribution System threatens to disrupt recent progress with PDS reforms. It also deprives millions of people of essential food entitlements. India’s Public Distribution System (PDS) has improved steadily during the last 10 years. The system used to be most ineffective and corruption-ridden, with leakages of around 50 per cent at the national level, going up to 80 or 90 per cent...
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