-TheWire.in A report by the Vidhi Centre for Legal Policy found that on an average, a law took 261 days to come into force and 14% of laws took a whopping 1000 days to become implementable. The term ‘legal reform’ has caught the imagination of policymakers, the judiciary and the general public, taking everyone by storm. Suddenly, everybody is clamouring to usher in new laws and weed out redundant ones. The government...
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Questions on cash goalposts -Jayanta Roy Chowdhury
-The Telegraph New Delhi: The Narendra Modi government has started to fumble for explanations, with the original raison d'etre for the demonetisation drive coming under strain because of the high volume of cash deposits that have poured into bank accounts. Almost 80 per cent of the Rs 500 and Rs 1,000 notes that were demonetised on November 9 has come straight back into the banking system, prompting the government to change the...
More »Will note ban dry up informal loans in rural India? -Sayantan Bera
-Livemint.com Nearly 40% of loans taken by agricultural households come from informal sources, shows data New Delhi: Demonetisation of high value currency has impacted the rural and agriculture sectors in several ways. In the days following Prime Minister Narendra Modi announcing withdrawal of Rs500 and Rs1,000 notes, trade in wholesale markets took a hit due to the acute cash crunch and farmers resorted to distress sales of perishables like fruits and vegetables....
More »Utsa Patnaik, professor emeritus at Jawaharlal Nehru University, interviewed by TK Rajalakshmi
-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...
More »Modi govt says demonetisation strikes black money; RBI data says it's a damp squib -Sandipan Sharma
-Firstpost.com There is a famous couplet by Iqbal that, if loosely translated, goes like this: There must be something about us that ensures we are never destroyed or decimated even when the world has been our enemy for ages. Now, apply that to the current war on illegal cash by the Narendra Modi government: It seems there is really something about Indian cash that ensures its survival. Note the figures. On 8 November,...
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