-The Indian Express The problem is particularly pronounced in Bardhaman district — known as the rice bowl of Bengal. Kolkata: West Bengal’s agriculture department has estimated that 35 per cent of the monsoon paddy might go waste if not harvested in time, an exercise that has been badly hit with farmers lacking the cash to pay for labour. The estimate is part of an agriculture department report, commissioned to assess the impact...
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Banning notes will not curb black money, says think tank that called for demonetisation -Shailesh Menon
-The Economic Times Until a couple of weeks ago, few had heard about Anil Bokil or the socioeconomic thinktank he founded, the Arthakranti Pratishthan. On the street, he would not even have invited a fleeting glance. This changed after the evening of November 8, when Prime Minister Modi announced his plans to “demonetise” Rs 500 and Rs 1,000 notes. Arthakranti Pratishthan has been credited with Sowing the seeds of “demonetisation” in the...
More »Rs. 35,000 cr. to ease rural cash crunch -Manojit Saha & Vikas Vasudeva
-The Hindu Centre relaxes curbs, allows farmers to buy seeds with old Rs. 500 notes. Union Finance Minister Arun Jaitley directed commercial bank chiefs on Monday to focus their attention on rural India’s cash crunch over the next 40 days, with a war chest of Rs. 35,000 crore for providing credit to farmers by December. The Centre also relaxed its demonetisation policy for high-value currency notes further by allowing farmers to buy seeds...
More »Jean Dreze, economist and a leading advocate of welfare policies, interviewed by Vasudha Venugopal (The Economic Times)
-The Economic Times "Demonetisation in a booming economy is like shooting at the tyres of a racing car," says development economist Jean Drèze . A leading advocate of welfare policies, Drèze who was a member of the National Advisory Council during the UPA regime, tells ET that the sudden move to demonetize high-value currency notes has created a scary situation for people who live on the margin of subsistence, and that...
More »Demonetisation: If rural cooperative banks sink, so will farmers -Ajay Vir Jakhar
-The Economic Times Farmers accustomed to decades of government policy failure are willing to bear the pain caused by the government’s decision to recall Rs 500 & 1000 bills, but engineering a systematic failure of the rural cooperative banking sector would be an unpardonable desecration. Earlier rural bank branches were given a step motherly treatment: Rural cooperative bank branches were not replenished with lower denomination currency, while the newer higher denomination notes...
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