-Frontline.in Interview with Utsa Patnaik, professor emerita of economics, Jawaharlal Nehru University. By T.K. RAJALAKSHMI THE FALLOUT of the decision of the National Democratic Alliance government to demonetise currency of higher denominations has been felt across all sections of people. There are concerns that it will lead to an overall economic slowdown given the acute shortage of currency for industrial and agricultural operations. The impact on agriculture and those dependent on agriculture...
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Oil mills in Modi backyard idle minus cash -Basant Rawat
-The Telegraph Ahmedabad: Samir Shah never had such spare time in his life as an oil mill owner. This is, after all, the peak season when mills buy oil seeds that are available after the harvesting of kharif crops. But the Saurashtra businessman has been sitting idle the past fortnight. There's no cash to do business. The demonetisation drive has left entrepreneurs like him with a shrunken wallet. And farmers don't usually accept...
More »After distress sale, fish vanish from markets
-The Times of India KOLKATA: If you failed to find your favourite fish in the market on Wednesday, blame it on the confusion over currency demonetization. With money starting to trickle in, the scenario in the market has changed overnight. If the cash crunch led to a drastic fall in price of fish and vegetables in the last few days, perishable items disappeared all of a sudden on Wednesday. A few...
More »Artificially created distress -Utsa Patnaik
-The Hindu To prevent further damage to the economy and to relieve distress, demonetisation should be revoked immediately Without adequate preparation or thought, the monetary authorities and the government have taken a drastic step declaring as worthless over 86 per cent by value of the currency notes in circulation with the public. A prior large increase of lower denomination notes should have been ensured through banks and ATMs, so that overall money...
More »When cash vanishes: A double-whammy -Parthasarathi Biswas
-The Indian Express Farmers are facing the heat from both collapse of demand and inability to purchase inputs post-demonetisation. Junnar (Maharashtra): The last one week and more has brought nothing but bad news for Vasant Pimpale. This farmer from Pargaon Tarfe Ale, a village in Pune district’s Junnar taluka, has already lost 11 tonnes of green chilli grown on eight out of his 15-acres holding. The loss hasn’t been courtesy drought, flood...
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