-Outlook Economist Abhijit Sen on how Modi is planning a greater tax intake buying into the idea of a transition to a cash-less economy. Former chairman of the Commission for Agricultural Costs and Prices, economist Abhijit Sen, in an interview with Lola Nayar, explains that Prime Minister Narendra Modi is planning a greater tax intake buying into the idea of a transition to a cash-less economy. Sen expects a tax amnesty scheme...
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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 »Why govt's demonetisation move may fail to win the war against black money -Appu Esthose Suresh
-Hindustan Times New Delhi: The demonetisation of Rs 500 and Rs 1,000 banknotes is unlikely to help the government suck out black money from the economy as hoarders keep a tiny portion of their ill-gotten wealth in hard cash, going by income-tax data. Cash recovery has been less than 6% of the undisclosed income seized from tax evaders, shows an HT analysis of data from tax raids from financial year 2012-13 onwards. In...
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 »Show me the money -Ila Patnaik
-The Indian Express Ban on Rs 500, Rs 1000 notes deals with stocks of black money. But push to a cashless economy is premature. The sudden and dramatic announcement by the prime minister banning Rs 500 and Rs 1,000 notes issued by the Reserve Bank of India has a number of objectives. Among them are tackling counterfeit notes, curbing black money and restricting finance for subversive activities. While progress will be made by...
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