-Scroll.in Scroll.in reporters fanned out across the country to uncover the reasons for the crisis. India’s current cash crunch is a real enigma. To begin with, there is its sheer unprecedented nature. In all the years since Independence, India has never seen something like it. “We have heard of coin shortages but never a cash shortage,” said MS Sriram, visiting faculty at the Indian Institute of Management-Bangalore’s Centre for Public Policy. “I...
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In 5 years, 46% hike in base: Tax net widens as individuals fuel the surge -Aanchal Magazine & Anil Sasi
-The Indian Express While the total taxpayer base grew at an average rate of about 7.9 per cent a year, individual taxpayers recorded an average annual growth rate of 8.2 per cent in these five years, inching up from 94 per cent in AY 2011-12 to 94.9 per cent in AY 2016-17, according to official data. New Delhi: Even as the country’s total taxpayer base increased to 6.41 crore in assessment year...
More »The myth of 15 million jobs -Mahesh Vyas
-The Indian Express Incomparable data sets, cherry-picking, and dubious statistical analysis are behind the claims of robust employment growth. Only 1.4 million jobs were added in 2017. Surjit Bhalla has invented an estimate that 15 million jobs were created in 2017 (‘Robust job growth, not fake news,’ IE, April 28). This is an invention; it is not a discovery or an inference by honest statistical analysis. It is an invention because Bhalla...
More »Demonetisation 2.0: cash crunch hits farmers, again -Banjot Kaur
-Down to Earth More than creating financial crunch for upcoming sowing season, cash crunch is impacting the prices at which farmers are selling their produce While the Union government is promising that cash crunch in the market would end soon, the farmers have already started feeling the pinch badly. The fears of Demonetisation have come back for them. They are in soup because not only is this the harvest season, but also...
More »ATMs run out of notes: Here's the reason behind the massive cash crunch -Somesh Jha
-Business Standard Although the rate of cash circulation has surpassed the pre-Demonetisation level, it is not in tandem with the rate of economic growth Automated Teller Machines (ATMs) across various states are running dry with the present situation reminiscent of Demonetisation of high-value currency notes one-and-a-half years back. States, including Gujarat, Uttar Pradesh, Madhya Pradesh, Bihar, Andhra Pradesh, Manipur and Telangana, have reported shortage of cash at ATMs. A stock-taking analysis submitted by...
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