-Outlook Economist Abhijit Sen on how Modi is planning a greater tax intake buying into the idea of a transition to a cash-less economy. Former chairman of the Commission for Agricultural Costs and Prices, economist Abhijit Sen, in an interview with Lola Nayar, explains that Prime Minister Narendra Modi is planning a greater tax intake buying into the idea of a transition to a cash-less economy. Sen expects a tax amnesty scheme...
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In hunt for big sharks, livelihood of the poor becomes small change
-The Hindu With little cash in hand, small traders and shopkeepers are unable to keep their businesses running Surendar’s move from Bihar to Perambalur in the heart of Tamil Nadu in search of a livelihood has turned sour over the past few days. A school dropout, Surendar, who made a living selling pani-poori from a cart in this town, has seen his business plummet since the November 8 demonetisation announcement. “Everyone brings...
More »Demonetisation: Zero balance accounts suddenly awash with cash in Andhra, Telangana
-TheNewsMinute.com The normal deposits ranging from Rs 500 to Rs 5000 have recently increased to Rs 10000. Due to the recent demonetisation of higher value notes, people in Telangana and Andhra Pradesh are finding new ways to escape the system. Telangana has witnessed a sudden decrease in the number of ‘Zero Balance Accounts’ of Pradhan Mantri Jan Dhan Yojna from 26 lakh to 23.6 lakh. Nearly 2.5 lakh accounts were suddenly awash...
More »In the Long Term Indians Might Lose Faith in Cash and Turn Towards Gold -Ravinder Kaur
-TheWire.in The spectacle of ‘fixing’ India’s illegal economy is not only harming common citizens but also turning small investors away from financial markets. Depending on who is talking, the demonetisation of higher value currency notes by Prime Minister Narendra Modi’s government has either been described by commentators as a ‘bold move’, ‘landmark policy’, ‘game-changer’ and even a ‘political masterstroke’ or has been labelled the single most high-risk political gamble undertaken since the...
More »Note demonetisation: What of the women who hide cash to feed their children or to escape abuse? -Nishita Jha
-Scroll.in A large section of women in India are out of the banking system, and the currency withdrawal has hit them hard. The helpline rang all day at the women’s crisis centre in Bhopal, Madhya Pradesh, on Wednesday. Counsellors took calls from women wondering what to do with their hard-earned savings after Prime Minister Narenda Modi in a surprise television address to the nation the night before had announced the demonetisation of...
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