-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...

-The Economic Times A graphic on this page on Thursday showed a steep increase of Rs 4.8 lakh crore in bank Deposits in September over the August figure. This spurt, ahead of the demonetisation of Rs 1,000 and Rs 500 notes announced on November 8, was not seasonal. It needs to be inquired into, to rid the demonetisation drive of a possible taint in the form of suspicion that some people...

-Business Standard / PTI Only about 1% of total assessees might be probed; warning against parking cash in others' accounts Hobbling with a paucity of staff, the income tax (I-T) department might find it difficult to assess more than 600,000-700,000 cases a year, though the government has suggested that people depositing a minimum of Rs 2.5 lakh cash in their bank accounts during the ongoing demonetisation drive will come under scrutiny. On Sunday,...

-The Economic Times Farmers accustomed to decades of government policy failure are willing to bear the pain caused by the government’s decision to recall Rs 500 & 1000 bills, but engineering a systematic failure of the rural cooperative banking sector would be an unpardonable desecration. Earlier rural bank branches were given a step motherly treatment: Rural cooperative bank branches were not replenished with lower denomination currency, while the newer higher denomination notes...

-Scroll.in The author of a paper published by a research institute under the Ministry of Finance expands on its conclusions. The drying up of cash has thrown the lives of millions of Indians in disarray. But many facing hardship support the government’s move. In Barabanki, Uttar Pradesh, a farmer who did not have cash to buy seeds and fertilisers, said, “Now when rich people deposit money in the bank, the income tax people...