-Scroll.in Because the exercise was doomed to fail in its primary objective of rooting out black Money, the government kept changing its aims. We have travelled a long way from November 8, 2016, when Prime Minister Narendra Modi told us that the black Money held in Rs 500 and Rs 1,000 currency notes would become “worthless pieces of paper”. Now, we are told by the finance ministry that the government expected...
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Demonetisation may have hurt more than it helped -Amulya Ganguli
-IANS It will take time for the economists to figure out whether the fall in the growth rate to 5.7 per cent is the result of the disruption caused by demonetisation and the Goods and Services Tax (GST), but most of the common people will see a connection between the two steps and a slowing down of the economy. For most of them, the GST seems right -- like the uniform civil...
More »Demonetisation coin falls on Narendra Modi government's head, leaves behind a large bump -Sandipan Sharma
-Firstpost.com The Narendra Modi government seems to have inherited Amitabh Bachchan's famous coin from Sholay. For, whichever way it falls, the government claims it has won. Its latest spin on demonetisation is yet another example of the government's 'heads we win, tails we win' arrogance. But, economy is not cinema. So, don't believe for a moment that the government was expecting almost all of the demonetised currency to return to the Reserve...
More »The Truth About Demonetisation -Prabhat Patnaik
-Newsclick.in After months of dilly-dallying the Reserve Bank of India has finally come out with the figure that nearly 99 percent of the currency notes demonetised in November 2016, came back to the banking system. After months of dilly-dallying the Reserve Bank of India has finally come out with the figure that nearly 99 percent of the currency notes demonetised in November 2016, came back to the banking system. The total value...
More »99% of scrapped notes back with banks, says RBI report
-The Times of India MUMBAI: The Reserve Bank of India (RBI) on Wednesday said that Rs 15.28 lakh crore --or 99% of the Rs 15.44 lakh crore demonetised by withdrawal of Rs 500 and Rs 1000 notes on November 8, 2016 --has been deposited with banks. The disclosure dashes hopes of the government earning a windfall by extinguishing trillions of rupees worth demonetised currency that has not been returned. In its annual report, the...
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