-PTI/ NDTV.com The Union government submitted the decision of demonetisation was executed on the specific recommendation of the Central Board of the Reserve Bank of India. New Delhi: The 2016 demonetisation was a "well-considered" decision and part of a larger strategy to combat the menace of fake money, terror financing, Black money and tax evasion, the Union government has told the Supreme Court. Defending its decision to demonetise currency notes of ₹ 500...
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Demonetisation has Been an Utter Failure on all Fronts -Prabhat Patnaik
-Newsclick.in None of its stated objectives have been met and the entire exercise has turned out to be a mere act of converting old notes into new ones, at great inconvenience to the people. In the entire history of post-Independence India, no single economic measure has been as devastating for the people and as utterly futile in achieving its stated objectives, as the demonetisation of currency notes of Rs 500 and Rs...
More »Six years since demonetisation, cash with public at record high of ₹30.88 lakh crore
-PTI/ The Hindu The intent of the move, which was criticised by many experts for poor planning and execution, was to make India a "less cash" economy. Currency with the public has jumped to a new high of ₹30.88 lakh crore as of October 21, illustrating that cash usage is still robust even six years after the demonetisation move. At ₹30.88 lakh crore, the currency with the public is 71.84% higher than the...
More »Agri Workers’ Tiny Wage Rise Wiped Out by Inflation -Subodh Varma
-Newsclick.in In the past five years, agri workers’ wage has increased by only about Rs.15 per year. For those leaders of the country who are tearing their hair trying to figure out how to get the economy moving, boost growth, increase investment and create jobs, it would be instructive to look at the plight of the largest economic class in the country – agricultural labourers. Numbering upward of 14 crore, they are...
More »Repeated multi-year droughts hit India over last 1,000 years, water policies need reassessment: Study -Rohini Krishnamurthy
-Down to Earth Southwest monsoon could switch into a drought-prone mode, lasting decades in the future India witnessed repeated multi-year droughts over the last thousand years, predominately before 1871, a new study has predicted. This contrasts with the drought history of the post-1871 era. The country saw only one instance of a three-year-long drought during this period, from 1985-1987, the study published September 19, 2022, in the journal Proceedings of the National Academy...
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