-The Economic Times NEW DELHI: In a big shift in the food security policy, the government is set to include crops other than wheat and rice that are now more in demand due to higher incomes and changing nutritional requirements. This will mean greater production of crops such as pulses, subsidy for fertilisers for other crops and incentivising farmers to diversify the crop basket. The Niti Aayog could drive the change in...
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Demonetisation has left India's food markets frozen - and the future looks tense -M Rajshekhar & Abhishek Dey
-Scroll.in The liquidity crisis has affected both the trade in food and the planting of the winter crop. As demonetisation enters its second week, traders in Patna’s Maroofganj mandi are seeing something unprecedented. In the last seven days, the supply of new stocks in this wholesale market, which supplies cooking oil, spices, rice, wheat and pulses to shopkeepers across Patna, has plummeted. The supply of cooking oil, for instance, is down by 80%. Talk...
More »Artificially created distress -Utsa Patnaik
-The Hindu To prevent further damage to the economy and to relieve distress, demonetisation should be revoked immediately Without adequate preparation or thought, the monetary authorities and the government have taken a drastic step declaring as worthless over 86 per cent by value of the currency notes in circulation with the public. A prior large increase of lower denomination notes should have been ensured through banks and ATMs, so that overall money...
More »Their factories paused, owners send workers to line up for new notes -Sarah Hafeez
-The Indian Express While owners say production has been hit as a result of people skipping work to withdraw money or exchange old notes, workers say they have been doing it for their owners. New Delhi: SINCE THE November 8 announcement that rendered old Rs 500 and Rs 1,000 notes invalid, workers of factories in the industrial suburbs of the national capital have been spending more time queuing up outside ATMs and...
More »In hunt for big sharks, livelihood of the poor becomes small change
-The Hindu With little cash in hand, small traders and shopkeepers are unable to keep their businesses running Surendar’s move from Bihar to Perambalur in the heart of Tamil Nadu in search of a livelihood has turned sour over the past few days. A school dropout, Surendar, who made a living selling pani-poori from a cart in this town, has seen his business plummet since the November 8 demonetisation announcement. “Everyone brings...
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