-The Indian Express Ban on Rs 500, Rs 1000 notes deals with stocks of black Money. But push to a cashless economy is premature. The sudden and dramatic announcement by the prime minister banning Rs 500 and Rs 1,000 notes issued by the Reserve Bank of India has a number of objectives. Among them are tackling counterfeit notes, curbing black Money and restricting finance for subversive activities. While progress will be made by...
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Demonetization: Witless and Anti-People -Prabhat Patnaik
-TheCitizen.in NEW DELHI: Narendra Modi went on national television at 8 p.m. on November 8 to announce that from midnight of that very date, i.e. in a mere four hours’ time, 500 and 1000 rupee notes would cease to be legal-tender. The justification advanced for this bizarre move was that it would strike at “black Money”. An additional argument was thrown in, to the effect that fake currency notes used by “terrorists”...
More »Here's What Raghuram Rajan Thinks Of Currency Demonetisation -Rimin Dutt
-Huffington Post It's not what most people are saying The government's currency swap plan to withdraw Rs 500 and Rs 1,000 bank notes from circulation as a way to demonetise is being hailed by many banks and experts as the ultimate weapon against black Money. However, demonetisation, as a strategy, isn't new and has been tried before with limited success. Here's what former Reserve Bank of India governor Raghuram Rajan once said during...
More »Stubble burning: Growing mechanisation, increase in paddy area added to problem
-Hindustan Times Sukhwant Singh, a farmer in Haryana’s Kurukshetra, had most of his 12 acres of agricultural land under paddy. After harvesting his crop, he set the paddy stubble on fire, burning it to the ground within a few hours. Singh and most other paddy growers in Punjab and Haryana, who are facing financial constraints due to falling productivity and dwindling returns, do not care about the ban on stubble burning put...
More »Expert Gyan: On the Government's Decision to Make Rs 500, Rs 1000 Notes Invalid
-TheWire.in On Tuesday evening, the central government announced that Rs 500 and Rs 1,000 notes will no longer be legal tender, starting from midnight November 8. Addressing the nation, Modi said this move was needed to tackle the “disease of black Money”. The Wire spoke to experts in the field on whether or not they thought this was good idea, whether it was a useful move in curbing black Money and what...
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