-The Hindu The Chief Statistician of India on the economy, the meaning of the new series of GDP data, and the need to wait for the impact of demonetisation to unfold T.C.A. Anant is the Chief Statistician of India, and Secretary, Ministry of Statistics and Programme Implementation. He has been in charge of several notable changes in the way economic data has been recently presented, including the new GDP and Gross Value...
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No proposal to withdraw cheque book facility, clarifies finance ministry
-PTI Some media reports said there is a possibility that the central govt may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions. New Delhi: The finance ministry on Thursday said there is no proposal to withdraw the bank cheque book facility, which is an integral part of the payments landscape. The clarification comes in the backdrop of reports in a certain section of media that...
More »Demonetisation has hit employment hard -Ajit Karnik
-Livemint.com The recent decline in the labour force participation rate should be a matter of deep concern for the Indian economy It has been a year since Prime Minister Narendra Modi surprised the country with the demonetisation announcement. Numerous commentators had criticized the move at the time for a variety of reasons, the most prominent among these being: (a) demonetisation was the wrong instrument for the intended objective of eliminating black money...
More »A damaging and mindless act -Prabhat Patnaik
-The Hindu Business Line It was a gratuitous and direct assault on the informal sector by the state The retrospective defence being provided by the Government for its act of suddenly demonetising 86 per cent of the country’s currency is as mindless as the act itself. The main argument for demonetisation that was advanced a year ago was that ‘black money’-holders would not dare to bring their demonetised currency to the banks;...
More »Revolution that wasn't -Pratap Bhanu Mehta
-The Indian Express Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism. Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes a fool of the revolutionary, exacerbating those very things that the revolution seeks to change. Demonetisation has turned out to be no different. It was a populist measure, done in...
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