-NDTV New Delhi: The Election Commission has raised concern over the use of indelible ink in banks after the notes ban, saying the move should not affect the "election process in any manner". Five states will hold by-elections on Saturday. In a letter to the Finance Ministry, the Commission has said that several states will hold elections and there will be confusion as indelible ink also marks citizens who have already...
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Less cash and low stocks make wheat prices climb -Harish Damodaran
-The Indian Express In wheat, the situation has been worsened by stocks with FCI — at 18.84 million tonnes (mt) as on November 1 — at a nine-year low. New Delhi: Wheat prices have spiralled, reflecting the precarious domestic stocks position and concerns over production of new crop because farmers are unable to arrange sufficient cash for cultivation operations, following the demonetisation of Rs 500 and Rs 1,000 currency notes. Wheat was sold...
More »Demonetisation: Centre sends teams to study impact -B Muralidhar Reddy
-The Hindu The decision is intended to convey that there is no going back on Narendra Modi’s announcement. New Delhi: Having resolved to stay the course and see through the implementation of the Prime Minister’s decision on withdrawal of 500- and 1000-rupee notes from circulation, the Union Government late on Friday night announced that a team of officials from the centre was being rushed to different States for a spot assessment of...
More »Rabi sowing slows down
-The Hindu Business Line Bengaluru/ Ahmedabad: Though acreage under the main rabi (winter) crops, such as wheat, gram and mustard continued to rise, overall sowing for the season across the country has turned sluggish as cash-strapped farmers have slowed down planting. According to preliminary data released by the Agriculture Ministry, acreage under rabi crops till November 18 stood lower, at 241.73 lakh hectares, compared to 243.38 lakh ha in the corresponding period...
More »Picking up the pieces -Pronab Sen
-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,...
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