-The Telegraph Lucknow: Puran Sharma needed cash to take care of his family's daily expenses. So he went to a health camp and got a vasectomy done. The 45-year-old day labourer returned home on Friday richer by Rs 2,000, though the money didn't come in 20 hundred-rupee notes as he had hoped it would. The amount would be transferred to his Bank Account. If Puran was a tad disappointed, the Uttar Pradesh villager...
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Goa will be first state to go cashless from December 31
-The Times of India PANAJI: Goa is likely to become the first state in India to go cashless from December 31, as people will be able to buy perishables such as fish, meat, vegetables or anything else at the press of a button on their mobile. There will be no need to carry your purse for purchases and the profession of pickpocketers may become extinct soon, as all transactions will be done...
More »Demonetisation: In two weeks, 60% rise in total balance in Jan Dhan accounts -Shyamlal Yadav & Jay Mazoomdaar
-The Indian Express While the increase in balance in accounts in public sector banks was 56 per cent, it was 66 per cent in private sector banks. New Delhi: In the two weeks after the Centre’s demonetisation move, the total balance in Jan Dhan accounts increased by nearly 60 per cent, online data updated by the government on Saturday revealed. While the total deposit in Jan Dhan accounts was Rs 45,637 crore...
More »Rural distress -TK Rajalakshmi
-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...
More »M Govinda Rao, ex-Director, National Institute of Public Finance and Policy (2003-13), interviewed by S Rajendran (The Hindu)
-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...
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