The term 'development' holds a positive connotation for most policymakers. However, there are examples abound, which indicates that development also cause enormous misery to the people, particularly the poor and the marginalized. Take for instance, the organizing of 2010 Commonwealth Games, due to which massive infrastructural development in the national capital was undertaken when Sheila Dikshit was the Chief Minister of Delhi. It has been estimated that almost 2 lakh...
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KC Chakrabarty, ex-deputy governor of Reserve Bank of India (RBI), interviewed by Manojit Saha (The Hindu)
-The Hindu KC Chakrabarty, who was deputy governor of Reserve Bank of India (RBI) between June 2009 and March 2014, said that there was no economic rationale behind the ongoing demonetisation drive and that such a proposal had been floated in the past too. Excerpts from a conversation: * What is your view on the ongoing demonetisation exercise? It has no economic rationale. It does not serve any purpose. * Why do you say...
More »Why Demonetisation Will Not Eliminate Black Money or Corruption -Abusaleh Shariff and Amir Ullah Khan
-TheWire.in Demonetisation will only affect those who conduct transactions in cash, are not a part of the formal banking system or have not converted their cash into assets. The government’s demonetisation of Rs 500 and Rs 1000 notes is a contentious issue, but is understandable. Such schemes may have not worked in the past, but a political commitment had to be honoured. The question is not whether the government is right for...
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 »Passports don't need details of spouse or father: Panel to MEA -Shalini Nair
-The Indian Express In its report submitted to the MEA, the panel has said that in keeping with global practices, the ministry must consider doing away with these details. New Delhi: IN VIEW of complaints, especially from women, of procedural harassment in passport offices, an inter-ministerial panel has recommended that the Ministry of External Affairs (MEA) should do away with the practice of printing details of a person’s father, mother or spouse...
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