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Demonetisation crushes green shoots in rural India -Rashmi Pratap

-The Hindu Business Line Rabi sowing down; sales of tractors and two-wheelers dip Mumbai: The demonetisation of high-value currency notes seems to have crushed the tender green shoots of economic recovery in rural India by choking off life-sustaining money supply and impeding the wheels of commerce from spinning. From FMCG firms to two-wheelers to tractor makers, companies had been looking forward to an increase in rural demand in the wake of an adequate...

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Sowing season hit by demonetisation: Central team red-flag loss of rural jobs -Anubhuti Vishnoi

-The Economic Times NEW DELHI: The 81 bureaucrats, who were dispatched by the Centre in teams of three to study the impact of demonetisation on the ground, have red-flagged loss of livelihood in rural areas, particularly in the non-formal sectors, and highlighted the negative impact on the farm sector in the sowing season. Officials told ET that these confidential reports were submitted last week and are now being examined for further action....

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M Govinda Rao, ex-Director, National Institute of Public Finance and Policy (2003-13), interviewed by S Rajendran (The Hindu)

-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...

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Rural distress -TK Rajalakshmi

-Frontline.in To rural India, which is already reeling under multiple crises, demonetisation has come as yet another blow. WHEN the Prime Minister made the decision to withdraw Rs.500 and Rs.1,000 notes, he did not quite factor in the impact it would have on agriculture. Despite the rhetoric the concept of digital wallets has not yet entered rural India unlike in much of the country’s urban areas, and much of rural and...

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Demonetisation: Investigate unusual spurt in deposits

-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...

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