-eSocialSciences.org The analysis in this paper suggests that demonetisation has impacted various sectors of the economy in varying degrees; however, in the affected sectors, the adverse impact was transient and felt mainly in November and December 2016. The impact moderated significantly in January 2017 and dissipated by and large by mid-February, reflecting the fast pace of remonetisation. The latest CSO estimates suggest that the impact of demonetisation on GVA growth was...
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Expect all demonetised money to come back to system: Revenue Secretary Hasmukh Adhia -Khushboo Narayan
-The Indian Express Questions over cost of exercise; will tax black money hoarders, says Adhia Mumbai: THE government expects the entire money in circulation in the form of currency notes of Rs 500 and Rs 1,000 which have been scrapped to come back to the banking system so that the tax authority can trace the transactions and tax black money hoarders, Revenue Secretary, Hasmukh Adhia said on Tuesday. This, effectively, undermines the...
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...
More »Farm Policy: The window for agricultural reform is closing fast -Pravesh Sharma
-The Indian Express It’s not as if the Centre cannot initiate reforms in agriculture. In fact, in at least three major areas, the onus for leadership and action lies with the Centre. For over a year, there have been news reports of Niti Aayog, the erstwhile Planning Commission’s new avatar, working on a wide-ranging reform package for India’s farm sector. In recent months, teasers have appeared hinting at the Centre’s plans of...
More »Missing stock is harming our food security
-Livemint.com Spoilage and pilferage are not something the country can afford given its low ranking in the hunger index The Reserve Bank of India (RBI) recently approved a proposal to restructure around Rs30,000 crore of food credit given to Punjab state agencies, allowing for the conversion of cash credit into a 20-year loan at a lower interest rate. The central bank also sanctioned a cash credit limit of Rs26,000 crore for this...
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