-Livemint.com Nearly 40% of loans taken by agricultural households come from informal sources, shows data New Delhi: Demonetisation of high value currency has impacted the rural and agriculture sectors in several ways. In the days following Prime Minister Narendra Modi announcing withdrawal of Rs500 and Rs1,000 notes, trade in wholesale markets took a hit due to the acute cash crunch and farmers resorted to distress sales of perishables like fruits and vegetables....
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Utsa Patnaik, professor emeritus at Jawaharlal Nehru University, interviewed by TK Rajalakshmi
-Frontline.in Interview with Utsa Patnaik, professor emerita of economics, Jawaharlal Nehru University. By T.K. RAJALAKSHMI THE FALLOUT of the decision of the National Democratic Alliance government to demonetise currency of higher denominations has been felt across all sections of people. There are concerns that it will lead to an overall economic slowdown given the acute shortage of currency for industrial and agricultural operations. The impact on agriculture and those dependent on agriculture...
More »Before Demonetisation, the Mystery of Rs 3-Lakh Crore Deposits in 15 Days -Ishan Bakshi and Nitin Sethi
-TheWire.in The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crore of these right after. New Delhi: From September 16 to 30, a staggering Rs 3.03 lakh crore of time deposits – fixed and recurring – were made at Banks. This has never happened in any fortnight since January 2001. September 16 is also the date from which the Reserve...
More »Questions on cash goalposts -Jayanta Roy Chowdhury
-The Telegraph New Delhi: The Narendra Modi government has started to fumble for explanations, with the original raison d'etre for the demonetisation drive coming under strain because of the high volume of cash deposits that have poured into bank accounts. Almost 80 per cent of the Rs 500 and Rs 1,000 notes that were demonetised on November 9 has come straight back into the banking system, prompting the government to change the...
More »In Bundelkhand, Farmers Sink Into Debt As Rural Economy Collapses -Ajoy Ashirwad Mahaprashasta
-TheWire.in In the caste and class-unequal region, where a cashless economy is a distant dream, there is some doubtful support for demonetisation, but mostly concrete hostility. Jhansi: Almost a month after Prime Minister Narendra Modi announced the scrapping of Rs 500 and Rs 1000 notes, the socio-economic fabric of Bundelkhand – one of the poorest regions in central India comprising parts of Uttar Pradesh and Madhya Pradesh – is slowly crumbling. The...
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