-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...
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Rural distress -TK Rajalakshmi
-Frontline.in To rural India, which is already reeling under multiple crises, demonetisation has come as yet another blow. WHEN the Prime Minister made the decision to withdraw Rs.500 and Rs.1,000 notes, he did not quite factor in the impact it would have on agriculture. Despite the rhetoric the concept of digital wallets has not yet entered rural India unlike in much of the country’s urban areas, and much of rural and...
More »Age Debate: The tax of all taxes
-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...
More »Govt admits big gaps in urban work force -Basant Kumar Mohanty
-The Telegraph New Delhi: About 57.57 per cent of India's urban population of 300 million has no Source of Income, socio-economic data released by the government last week suggests, prompting at least one analyst to wonder if this was the reason people were willing to queue up for the whole day to exchange cash. Thirty-seven per cent are engaged in work ranging from begging to government jobs, earning some income. About 5.90...
More »Demonetisation: How the cash crisis can be used to tame rural commercial capital -Pravesh Sharma
-The Indian Express These enterprises — whom she broadly categorises as ‘rural commercial capital’ — enjoy privileged access to formal credit networks. In her insightful study of the working of agricultural markets in West Bengal, British development studies scholar Barbara Harris-White has documented in detail how trade in farm produce is controlled through a web of rural and semi-urban agro commercial enterprises. These enterprises — whom she broadly categorises as ‘rural commercial capital’...
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