-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...
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Demonetisation: If rural cooperative banks sink, so will farmers -Ajay Vir Jakhar
-The Economic Times Farmers accustomed to decades of government policy failure are willing to bear the pain caused by the government’s decision to recall Rs 500 & 1000 bills, but engineering a systematic failure of the rural cooperative banking sector would be an unpardonable desecration. Earlier rural bank branches were given a step motherly treatment: Rural cooperative bank branches were not replenished with lower denomination currency, while the newer higher denomination notes...
More »Dr. Kavita Rao, professor at National Institute of Public Finance and Policy (NIPFP), interviewed by Supriya Sharma (Scroll.in)
-Scroll.in The author of a paper published by a research institute under the Ministry of Finance expands on its conclusions. The drying up of cash has thrown the lives of millions of Indians in disarray. But many facing hardship support the government’s move. In Barabanki, Uttar Pradesh, a farmer who did not have cash to buy seeds and fertilisers, said, “Now when rich people deposit money in the bank, the income tax people...
More »Prof. Abhijit Sen, economist and former chairman of the Commission for Agricultural Costs and Prices, interviewed by The Economic Times
-The Economic Times In a chat with ET Now, Abhijit Sen, Professor, JNU, says this is a whole sector in which there are very large cash demands for production at one or two points in time and this happens to be one. Edited excerpts * The government has hiked MSPs for rabi crop. How do you see the impact of higher MSPs for output and demand for rabi playing out? The increases are normal...
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...
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