-Hindustan Times Raghuram Rajan makes the disclosure in his latest book -- I do what I do – which is a compilation of speeches he delivered on a wide range of issues as the RBI governor. Former RBI governor Raghuram Rajan has revealed that he did not favour demonetisation as he felt the short term economic costs associated with such a disruptive decision would outweigh any longer term benefits from it. Rajan...
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Demonetisation coin falls on Narendra Modi government's head, leaves behind a large bump -Sandipan Sharma
-Firstpost.com The Narendra Modi government seems to have inherited Amitabh Bachchan's famous coin from Sholay. For, whichever way it falls, the government claims it has won. Its latest spin on demonetisation is yet another example of the government's 'heads we win, tails we win' arrogance. But, economy is not cinema. So, don't believe for a moment that the government was expecting almost all of the demonetised currency to return to the Reserve...
More »The Truth About Demonetisation -Prabhat Patnaik
-Newsclick.in After months of dilly-dallying the Reserve Bank of India has finally come out with the figure that nearly 99 percent of the currency notes demonetised in November 2016, came back to the banking system. After months of dilly-dallying the Reserve Bank of India has finally come out with the figure that nearly 99 percent of the currency notes demonetised in November 2016, came back to the banking system. The total value...
More »As money flowed back in, how goalposts were shifted -Manoj CG & Ravish Tiwari
-The Indian Express A scrutiny of RBI’s earlier provisional disclosures and the government’s structured public remarks reveal a pattern: aware that much of the money would return, the government and the political establishment kept shifting the goalposts. New Delhi: “Tab (previous UPA) aawaz uthti thi ki kitna gaya, ab aawaz uth rahi hai ki kitna laye. Isse bada jeevan ka santosh kya ho sakta hai…Yahi toh sahi kadam hai…Woh zamana tha tab...
More »Supreme Court curbs on states' land largesse to politicians, bureaucrats -Amit Anand Choudhary
-The Times of India NEW DELHI: State governments may not be able to allot residential plots in cities to serving and former MPs, MLAs, bureaucrats, journalists and judges of their choice by exercising their discretionary power as the Supreme Court on Wednesday decided to frame guidelines for allotting public land at subsidised rates. Expressing concern over state governments' decision to allocate plots to well off people while lakhs of poor people do...
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