-TheWire.in As the unorganised sector continues suffering, civil society members, bankers and politicians remain sceptical of Demonetisation’s impact on black money. It is no secret that India’s informal sector, a largely cash-based economy, has taken a big hit because of Demonetisation. While the government insists that the suffering is only temporary and worth it for cracking down on black money, several representatives from the unorganised sector are presenting a starkly different account...

-Scroll.in The liquidity crisis has affected both the trade in food and the planting of the winter crop. As Demonetisation enters its second week, traders in Patna’s Maroofganj mandi are seeing something unprecedented. In the last seven days, the supply of new stocks in this wholesale market, which supplies cooking oil, spices, rice, wheat and pulses to shopkeepers across Patna, has plummeted. The supply of cooking oil, for instance, is down by 80%. Talk...

-Caravan Magazine “It was like hitting hard at the bird’s nest with a stone,” said P Somu, a Dalit migrant labourer, who travelled from Mudigubba mandal of Anantapur district in Andhra Pradesh to Cochin to work. He said, “It’s the same feeling I got after I was cheated by [the agro-based retail conglomerate] AgriGold. I had sold the cow and calf I loved.” When I met Somu on 12 November 2016,...

-Scroll.in The disruptive impact of the Demonetisation policy is most evident in Varanasi’s sari-fabric industry. Prime Minister Narendra Modi’s decision to demonetise high-denomination notes has delivered a crippling blow to the uniquely Indian system of financing business. This outcome is ironic for the prime minister whose party, the Bharatiya Janata Party, is forever engaged in extolling India’s contribution to knowledge in ancient times and singing praises of Indian culture. From Delhi to Varanasi...

-Ideas for India In an earlier article, Pronab Sen, Country Director, IGC India Central, examined some of the economic consequences of the recent Demonetisation of Rs. 1,000 and 500 notes in India, and concluded that the potential damage could be substantial, both in terms of growth and equity. In this article, focussing on solutions, he contends that the government now needs to realise that credit for production purposes is at least as,...