-The Telegraph New Delhi: The chief of the Rashtriya Swayamsevak Sangh's labour arm today said that far more jobs had been lost than were created since the Narendra Modi government assumed office, adding that the demonetisation had cost many jobs too. "Under the new government, 1 lakh and 35 thousand job opportunities have been created so far but 20 lakh people have lost their jobs," Baij Nath Rai, president of the Bharatiya...
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Questions on cash goalposts -Jayanta Roy Chowdhury
-The Telegraph New Delhi: The Narendra Modi government has started to fumble for explanations, with the original raison d'etre for the demonetisation drive coming under strain because of the high volume of cash deposits that have poured into bank accounts. Almost 80 per cent of the Rs 500 and Rs 1,000 notes that were demonetised on November 9 has come straight back into the banking system, prompting the government to change the...
More »Utsa Patnaik, professor emeritus at Jawaharlal Nehru University, interviewed by TK Rajalakshmi
-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...
More »In Bundelkhand, Farmers Sink Into Debt As Rural Economy Collapses -Ajoy Ashirwad Mahaprashasta
-TheWire.in In the caste and class-unequal region, where a cashless economy is a distant dream, there is some doubtful support for demonetisation, but mostly concrete hostility. Jhansi: Almost a month after Prime Minister Narendra Modi announced the scrapping of Rs 500 and Rs 1000 notes, the socio-economic fabric of Bundelkhand – one of the poorest regions in central India comprising parts of Uttar Pradesh and Madhya Pradesh – is slowly crumbling. The...
More »Demonetisation: A month after move, why are we still strapped for cash? -Shameen Alauddin
-Business Standard RBI says it has released only Rs 4 lakh crore but banks have received Rs 11.55 lakh crore in deposits from the public; 65% currency remains unreplaced New Delhi: Even as India grapples with an acute shortage of currency notes, Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday announced that Rs 4 lakh crore (19.1 billion notes) had been injected into the system. The crunch might go on...
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