-PTI New Delhi: Over Rs 29.41 crore was spent on using the Indian Air Force’s ultra-modern transport aircraft — the C-17 and the C-130J Super Hercules — to ferry the newly-issued Rs 2,000 and Rs 500 currency notes post-demonetisation, according to an RTI reply. The move to scrap the old Rs 500 and Rs 1,000 notes was announced by Prime Minister Narendra Modi on November 8, 2016, and saw 86 per cent...
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Demonetisation failed to make India a 'less cash' society -Vivek Dehejia and Rupa Subramanya
-Livemint.com The ratio of currency in circulation as share of broad money is back at pre-demonetisation levels, according to Reserve Bank of India data On 8 November 2016, Prime Minister Narendra Modi announced the “demonetisation” of high-value currency notes. When it became clear the ex ante goals of reducing corruption and black money were unlikely to succeed, attention shifted to a range of possible ex post facto rationales for the move. Numerous...
More »Improving social audits -Suchi Pande & Rakesh R Dubbudu
-The Hindu Telangana’s experience is instructive The institutionalisation of “social audits” to ensure implementation of the National Rural Employment Guarantee Act (NREGA) has been challenging. Since being included in the 2005 Act at the behest of social movements, social audits have been ineffective in most parts of the country due to government indifference. So far, 26 States have created social audit units (SAUs), but the Comptroller and Auditor General’s (CAG’s) detailed guidelines...
More »Jean Dreze, development economist and social activist, interviewed by Rupashree Nanda (CNN-News18)
-News18.com In an interview with News18’s Rupashree Nanda, Dreze, who was a member of Sonia Gandhi’s National Advisory Council and an architect of the National Employment Guarantee Act (NREGA), says that there have been no major initiatives in the social field in the last four years, with the partial exception of Swachh Bharat. Government data reveal that the Indian economy is growing at a robust rate but noted economist Jean Dreze believes...
More »What demonetisation did to tax collections -Aarati Krishnan
-The Hindu It has sharply lifted tax buoyancy and ushered many new return filers into the income tax net The argument about whether demonetisation was good or bad for the economy refuses to die down even a year after the event. Former RBI Governor Raghuram Rajan took potshots at it in a recent speech. While one can endlessly debate, with very little data, on whether the ban on high-value currency notes dealt a...
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