-Hindustan Times Plight of the migrants: Jobless labourers return home after demonetisation Twenty-three-year-old Avinash Kumar is planning to postpone his sister’s marriage. The money he had saved, working at a sweatshop in New Delhi’s Mongolpuri, is all but gone. Kumar lost his job in about two weeks from the time Prime Minister Narendra Modi announced a ban on Rs 500 and Rs 1,000 notes, in a move that he termed as the biggest-ever...
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R Nagaraj, an economist and currently a professor at the Indira Gandhi Institute of Development Research in Mumbai, interviewed by Kedar Nagarajan (Caravan Magazine)
-Caravan Magazine On 8 November 2016, Prime Minister Narendra Modi made an announcement declaring that notes of Rs 500 and Rs 1,000 would not be legal tender as a part of his government’s policy to clamp down on counterfeiting and black money. It has been widely reported that this policy would directly impact the real-estate sector, which typically witnesses a significant amount of transactions that are made through cash to avoid...
More »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 »Cheque payments making farmers' lives more difficult -Madhvi Sally & Jayashree Bhosale
-The Economic Times NEW DELHI | PUNE: Post demonetisation, Manjit Singh, a farmer in Punjab, is grappling with a new financial reality — a queer mix of debit and credit in cashstarved villages where farmers are beginning to get some payments in cheques while their suppliers want currency notes. The vegetable and paddy farmer from Malerkotla is yet to receive Rs 35,000 from commission agents who took his produce. He has bought...
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...
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