-Hindustan Times Plight of the migrants: Jobless labourers return home after demonetisation Twenty-three-year-old Avinash Kumar is planning to postpone his sister’s marriage. The money he had saved, working at a sweatshop in New Delhi’s Mongolpuri, is all but gone. Kumar lost his job in about two weeks from the time Prime Minister Narendra Modi announced a ban on Rs 500 and Rs 1,000 notes, in a move that he termed as the biggest-ever...
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R Nagaraj, an economist and currently a professor at the Indira Gandhi Institute of Development Research in Mumbai, interviewed by Kedar Nagarajan (Caravan Magazine)
-Caravan Magazine On 8 November 2016, Prime Minister Narendra Modi made an announcement declaring that notes of Rs 500 and Rs 1,000 would not be legal tender as a part of his government’s policy to clamp down on counterfeiting and black money. It has been widely reported that this policy would directly impact the real-estate sector, which typically witnesses a significant amount of transactions that are made through cash to avoid...
More »Demonetisation blues: No work or cash, over 10,000 daily wagers leave Gurgaon -Abhishek Behl
-Hindustan Times Gurgaon: The demonetisation move by the Centre is turning out to be a nightmare for over 1 lakh Construction workers in the city. Labour department sources said that 10,000-12,000 daily wage workers have already left Gurgaon. In the absence of work and cash, a majority of the seasonal workers are struggling to make ends meet. To get a clearer picture, the labour department has also ordered a survey. Gurgaon is a...
More »Demonetisation leaves rural residents jobless -S Senthalir
-The Hindu Delay in monsoon has compounded the problems of farm labourers from Bahour commune Puducherry: The double whammy of demonetisation and delay in monsoon has crippled the rural population of Puducherry as they struggle to make their ends meet. The demonetisation move has brought the construction activity across the rural areas to a standstill, throwing thousands out of jobs and without money. The construction sites in rural areas of Bahour, Villianur, Mannadipet...
More »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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