-The Asian Age Replacing income-tax with a banking transaction tax is an unworkable idea. The poor will end up paying a lot more: Subhanil Chowdhury The idea that all taxes in India should be abolished, except import duty, and replaced by a bank transaction tax (BTT) is a deeply flawed one for a number of reasons. First, there are only few countries in the world that do not have income-tax — oil rich...
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Motive behind demonetisation is justifiable but there may be collateral damage
There are reports from all over the country that the recent decision by the government to demonetise currency notes of Rs. 500/- and Rs. 1000/- denomination has affected everyone. However the consequence of this financial measure is lopsided and it will be mainly borne by the farmers, informal sector workers, women and the financially excluded. Please check the links/ urls below this news alert to know everything about demonetisation. Till a few...
More »Prabhat Patnaik, economist and professor emeritus at Jawaharlal Nehru University, interviewed by Jahnavi Sen
-TheWire.in In conversation with economist Prabhat Patnaik on the government’s decision to demonetise Rs 500 and Rs 1000 notes. On November 8, Prime Minister Narendra Modi addressed the nation at 8 pm and announced that Rs 500 and Rs 1000 notes would no longer be legal tender after midnight that night. This move was needed to tackle the “disease of black money,” he said. Since then, their have been numerous reports of how...
More »Jim Yong Kim could spoil India's Davos party in 2017 over stunting -Roshan Kishore
-Livemint.com India continues to have high stunting levels, despite impressive growth New Delhi: India has earned a lot of praise from leaders of international economic institutions and forums for being the fastest growing economy in the world in recent years. This might not be the case when world capitalist leaders meet in Davos for the 2017 World Economic Forum in January next year. Jim Yong Kim, the World Bank’s president, has...
More »It never trickles down -Prabhat Patnaik
-The Hindu The state has become exclusively concerned with the interests of globalised capital and the domestic corporate-financial oligarchy aligned with it. The income squeeze on peasants is one consequence Central to the “reforms” introduced in 1991 was not a “retreat of the state” in favour of the “market” as is commonly supposed, but a change in the nature of the state. This change was not necessarily a conscious decision; it was...
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