-The Times of India NEW DELHI: The Modi government's Demonetisation move seems to have taken the wind out of the sails of an already faltering job guarantee scheme. The number of households getting work in November dropped by 23% compared to the previous month and those being turned back empty-handed jumped to a staggering 23.4 lakh, almost twice the number in October. Compared to the same month last year, work given this...
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'My business will be finished': Cash crunch hits farmers in Punjab -Gurpreet Singh Nibber
-Hindustan Times Village Khokh (Patiala): Nek Singh Khokh fears he might wilt, just the way the saplings in his sprawling nursery might. Ever since Prime Minister Narendra Modi unveiled his Demonetisation plan, scrapping big denomination currency to drain the economy of black money and counterfeits, Khokh has been struggling to pay labourers to tend to his saplings. The owner of a nursery, some 25 km west of the Punjab town of Sirhind, Khokh...
More »Your neighbourhood ATM may turn into a hacker's paradise -Shelley Singh
-The Economic Times NEW DELHI: The next time you queue up at the ATM for cash—an experience that has become increasingly onerous since Demonetisation— it’s not just the long wait that should worry you. There’s a high probability the cash dispenser runs on software Microsoft stopped supporting more than two years back, thus making it vulnerable to hackers. Card details could be stolen—as they indeed were earlier this year--even as you...
More »R Nagaraj, an economist and currently a professor at the Indira Gandhi Institute of Development Research in Mumbai, interviewed by Kedar Nagarajan (Caravan Magazine)
-Caravan Magazine On 8 November 2016, Prime Minister Narendra Modi made an announcement declaring that notes of Rs 500 and Rs 1,000 would not be legal tender as a part of his government’s policy to clamp down on counterfeiting and black money. It has been widely reported that this policy would directly impact the real-estate sector, which typically witnesses a significant amount of transactions that are made through cash to avoid...
More »45,000 workers lose jobs in F'bad units -Bijendra Ahlawat
-The Tribune Industries reduce number of shifts as sales fall Faridabad: Industrial units here have started laying off the excess employees, courtesy Demonetisation. In the past one month since Rs 500 and Rs 1,000 notes were declared invalid, around 45,000 employees, mostly contractual, have reportedly lost their job in this industrial city. A large number of employees who received their salaries through cheque are still waiting to cash it due to delay in...
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