-The Hindu Business Line The possible gain arising out of tax compliance has come at too high a human cost ‘There are three kinds of lies: lies, damned lies, and statistics.’ – Benjamin Disraeli After the RBI’s latest revelations — of 99 per cent of the extinguished currency having returned to the banks — media pundits and economists have wasted no time in saying that efforts to obliterate black money have failed. However,...
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Raghuram Rajan breaks silence, says he wasn't on board for demonetisation -Rajesh Mahapatra
-Hindustan Times Raghuram Rajan makes the disclosure in his latest book -- I do what I do – which is a compilation of speeches he delivered on a wide range of issues as the RBI governor. Former RBI governor Raghuram Rajan has revealed that he did not favour demonetisation as he felt the short term Economic Costs associated with such a disruptive decision would outweigh any longer term benefits from it. Rajan...
More »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 »Policing lessons from Panchkula -Roshan Kishore
-Livemint.com State’s response to organised violence in India often hinges on a political cost-benefit analysis Days before the verdict in rape case against Dera Chief Gurmeet Ram Rahim Singh, his supporters started gathering in Panchkula. A lot of violence could have been prevented by not letting them come there. Why did the government allow this? The Dera is hardly a benign spiritual organisation. It holds significant political clout and openly declares support...
More »Economic growth likely to be consumption-led
-The Hindu Business Line Strengthening of global demand will support domestic economy: RBI Kolkata: The Reserve Bank of India, in its Annual Report 2016-17, has said strengthening external demand will help support the economy, even while favourable domestic conditions are expected to quicken the pace of overall economic activity during the year. Global growth is gaining traction in 2017-18, with the recovery driven primarily by a cyclical upturn in investment, manufacturing and trade,...
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