-Business Standard There is a widespread panic among farmers, who were preparing for the next Rabi season New Delhi: There is a widespread panic among farmers, who had recently harvested their paddy crop, and were preparing for the next Rabi season. They fear that in the absence of new Currency notes they will miss out on the crucial sowing time. This is most crucial time for a farmer when he not only...
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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 »Note demonetisation: What of the women who hide cash to feed their children or to escape abuse? -Nishita Jha
-Scroll.in A large section of women in India are out of the banking system, and the Currency withdrawal has hit them hard. The helpline rang all day at the women’s crisis centre in Bhopal, Madhya Pradesh, on Wednesday. Counsellors took calls from women wondering what to do with their hard-earned savings after Prime Minister Narenda Modi in a surprise television address to the nation the night before had announced the demonetisation of...
More »Demonetisation damage greater than its benefits, says Kaushik Basu -Arup Roychoudhury
-Business Standard On day-2 of the demonetization drive, serpentine queues have reported from banks and ATMs around the country World Bank Chief Economist and India’s former chief economic advisor Kaushik Basu said that the Narendra Modi government’s demonetization drive was not ‘good economics’ and that the damage it causes will be greater than its benefits. “GST was good economics; the demonetization is not. Its economics is complex & the collateral damage is likely...
More »Demonetisation hits onion farmers
-Deccan Herald Trading stopped indefinitely in Bagalkot market The scrapping of the notes of Rs 500 and Rs 1,000 denomination by the Central government has severely affected onion traders in the district. Following a request by the traders, the agriculture produce marketing committee has deferred onion trade for an indefinite period. The traders had requested the APMC to stop trading till the Currency situation becomes “normal.” However, the move has not gone down well...
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