-Livemint.com Middle India is largely rural and uneducated, shows the ‘Household Survey on India’s Citizen Environment & Consumer Economy’ New Delhi: India’s richest quintile accounts for 45% of aggregate household disposable income while the poorest quintile earns barely 7% of the aggregate income pie, according to the latest data from a nationally representative survey conducted this year. The Household Survey on India’s Citizen Environment & Consumer Economy (ICE 360° survey), covering 61,000 households,...

-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...

-The Hindu Centre for Politics and Public Policy Prime Minister Narendra Modi's announcement demonetising high denomination notes on November 8, 2016, will do little to address the prime objective of flushing out black money but will adversely affect the economy in the short term, especially the informal sector, which is predominant in India, says M. Govinda Rao, a Member of the Fourteenth Finance Commission and Emeritus Professor, National Institute of Public...

-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...

-The Telegraph New Delhi: About 57.57 per cent of India's urban population of 300 million has no source of income, socio-economic data released by the government last week suggests, prompting at least one analyst to wonder if this was the reason people were willing to queue up for the whole day to exchange cash. Thirty-seven per cent are engaged in work ranging from begging to government jobs, earning some income. About 5.90...