-TheWire.in Demonetisation as a means of tackling the black economy was destined to fail. What’s worse is that its ripple effects are having severe adverse effects on India’s economy. That 99% of the currency demonetised found its way back to the RBI has been known for some time. The surprise is why it took so long for the announcement to be made. An article in the Economic and Political Weekly in June...
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It was the suddenness of demonetisation that added immensely to its costs, and nothing to its benefits -Shankar Raghuraman
-The Times of India blog Whatever its critics may say, there is one unambiguous achievement of the demonetisation drive. The Reserve Bank of India can surely now claim its rightful place in the Guinness or Limca books for the world record in time spent on a single count of currency notes. But what about the other benefits that the finance ministry claimed after RBI announced the results of this mahayajna of...
More »Beware the kill switch of agriculture -Prabhakaran Nair
-The Indian Express Makka ki roti aur sarson ka sag is a popular food item in northern India, in particular, Punjab, Haryana and Western Uttar Pradesh where both maize and mustard are widely grown. All vegetarian dishes made in much of northern, eastern and western India are cooked in mustard (sarson) oil. Why, suddenly, has mustard taken centre stage? GM mustard has begun to stir both the scientific and activist lobbies,...
More »Arun Jaitley demonetises cash ban criticism, says 'no currency inadequacy for even a day' -Abantika Ghosh
-The Indian Express He said the RBI board had “independently applied its mind” to send the relevant recommendation to the government. THERE WAS never any shortage of currency in the aftermath of the decision to demonetise high-value currency, Finance Minister Arun Jaitley told the Rajya Sabha on Tuesday while answering a clutch of questions on the issue. “At no point of time, not for a single day, was the currency inadequate. As...
More »Lift the veil of Secrecy -K Padmanabhaiah
-The Hindu The primary aim of the demonetisation exercise was to tap black money. To mark the last day for depositing the demonetised notes, on December 31, 2016, the Prime Minister, in his address to the nation, fully acknowledged the great hardship suffered by common people due to the serious delay in making the new currency notes available in the banks, ATMs and rural areas, and thanked them for the faith...
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