-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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Demonetisation: The Lies The Government Weaves As It Abandons Reason -Prabhat Patnaik
-TheCitizen.in NEW DELHI: So many lies are being spread by the government which is currently busy wrecking the Indian economy in the manner of a bull in a china shop; so many spurious economic arguments are being trotted out by it, that one has to be extremely vigilant not to be swept away by this tide of unreason. In the current article, and the two subsequent ones to follow, I propose to...
More »Small farMers, farm workers bear the brunt as cash becomes scarce
-The Hindu Stories of distress, following a year of drought and now demonetisation, reverberate through State BENGALURU: First, the water in their fields disappeared, and now, the cash in the market. For Rajaiah of Boovanahalli in Hassan district, the cash crunch following demonetisation has seen his yet-to-be harvested maize shrouded in uncertainty. “There are no Merchants to purchase as they have no cash,” he said. There is desperation, however, as his entire produce...
More »Vanishing Note, Yawning Chasm -Shaji Vikraman
-The indian Express Govt hopes demonetisation will accelerate India's drive towards a cashless economy. The challenge, however, is to get the unbanked millions into the net. Mumbai: FOR MOST of this year, bankers at State Bank of India, the country’s largest bank, were trying hard to market Point of Sales (POS) machines for debit and credit cards to small businesses and establishments. This would give the bank access to funds at relatively...
More »Expect your household budget to shoot up: Going cashless comes at a cost -Tinesh Bhasin & Priya Nair
-Business Standard When you start using digital payment options, your household budget is likely to shoot up The government’s demonetisation drive has caused a cash crunch, forcing people to look at plastic money and other forms of digital payments. But, for a society accustomed to physical notes, the transition to cashless comes at a cost. Many households are likely to see their budgets shoot up as they pay more at Merchant establishments...
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