-Scroll.in The author of a paper published by a research institute under the Ministry of Finance expands on its conclusions. The drying up of cash has thrown the lives of millions of Indians in disarray. But many facing hardship support the government’s move. In Barabanki, Uttar Pradesh, a farmer who did not have cash to buy seeds and fertilisers, said, “Now when rich people deposit money in the bank, the income tax people...

-Ideas for India In an earlier article, Pronab Sen, Country Director, IGC India Central, examined some of the economic consequences of the recent demonetisation of Rs. 1,000 and 500 notes in India, and concluded that the potential damage could be substantial, both in terms of growth and equity. In this article, focussing on solutions, he contends that the government now needs to realise that credit for production purposes is at least as,...

-TheWire.in As the unorganised sector continues suffering, civil society members, bankers and politicians remain sceptical of demonetisation’s impact on black money. It is no secret that India’s Informal Sector, a largely cash-based economy, has taken a big hit because of demonetisation. While the government insists that the suffering is only temporary and worth it for cracking down on black money, several representatives from the unorganised sector are presenting a starkly different account...

-Scroll.in The disruptive impact of the demonetisation policy is most evident in Varanasi’s sari-fabric industry. Prime Minister Narendra Modi’s decision to demonetise high-denomination notes has delivered a crippling blow to the uniquely Indian system of financing business. This outcome is ironic for the prime minister whose party, the Bharatiya Janata Party, is forever engaged in extolling India’s contribution to knowledge in ancient times and singing praises of Indian culture. From Delhi to Varanasi...

-The Telegraph The pundits have started to crunch numbers to assess the immediate impact of the Narendra Modi government's demonetisation drive on the economy, businesses and households - and the picture doesn't look too good. A consensus has started to emerge that the economy will take a hard knock in the short term with GDP growth likely to contract by 0.7 to 1 percentage point over the next year. The maximum impact...