-Frontline.in Interview with Utsa Patnaik, professor emerita of economics, Jawaharlal Nehru University. By T.K. RAJALAKSHMI THE FALLOUT of the decision of the National Democratic Alliance government to demonetise currency of higher denominations has been felt across all sections of people. There are concerns that it will lead to an overall economic slowdown given the acute shortage of currency for industrial and agricultural operations. The impact on agriculture and those dependent on agriculture...
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Demonetisation hits MSMEs hard, output plunges to 50% of capacity; labour unrest fears haunt sector -Abheri Raychaudhuri
-The Financial Express Ahmedabad: With production having slowed down to about 50% for most micro, small and medium enterprises (MSMEs) since the demonetisation of R500 and R1,000 notes by the Centre, a spectre of unrest is beginning to haunt labour-intensive sectors such as the textile and chemicals units in Gujarat. “There are two lakh registered MSME units in Gujarat, several of which form ancillary units for the textile industry such as for...
More »Industries opt for lock down, cut work hours to tide over slump caused by demonetisation -Aakash Ahuja
-The Times of India RUDRAPUR: Many of the over 700 factories in the industrial belt of Udham Singh Nagar have either slowed down production or opted for a short-term lock down due to problems in transport of goods and a dip in demand. Demonetisation of currency notes of Rs 500 and Rs 1,000 has hit not just small industrial units but also giants like Parle and Britannia, many of which have...
More »Their factories paused, owners send workers to line up for new notes -Sarah Hafeez
-The Indian Express While owners say production has been hit as a result of people skipping work to withdraw money or exchange old notes, workers say they have been doing it for their owners. New Delhi: SINCE THE November 8 announcement that rendered old Rs 500 and Rs 1,000 notes invalid, workers of factories in the industrial suburbs of the national capital have been spending more time queuing up outside ATMs and...
More »In fact: When the money stops -Harish Damodaran
-The Indian Express The effects of de-monetisation will be the most acute when it spreads from consumption in households to production in factories and by farmers across the country. So far, the effects of Prime Minister Narendra Modi’s ‘de-monetisation’ of existing Rs 500 and Rs 1,000 denomination currency notes have been largely felt by households, shopkeepers and other microenterprises. These economic agents have, to a limited extent, adjusted to the new situation...
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