Economy

The Wire’s Coverage of the Demonetisation of Rs 500 and Rs 1000 Notes

A series of articles that analyse what happened, the reasons behind it, its effects and what to expect next.

What kinds of black money will be stopped and what won't? Credit: Reuters

What kinds of black money will be stopped and what won’t? Credit: Reuters

Breaking the Politics-Business Nexus Will Be the Real Surgical Strike on Black Money

The Centre is effectively saying it wants a cashless economy for the millions who survive in an honest cash economy. The dishonest cash economy controlled by big business is allowed to continue and thrive. M.K. Venu

Expert Gyan: On the Government’s Decision to Make Rs 500, Rs 1000 Notes Invalid

The Wire spoke to experts in the field on whether or not they thought this was good idea, whether it was a useful move in curbing black money and what other possible impacts it could have. The Wire Staff

Modi Government’s Currency Demonetisation Ignores Everyone Who Is Not the Urban Elite

For the poor or those living in the hinterland, the announcement that Rs 500 and Rs 1000 notes will no longer be legal tender has meant fear, panic and immense hassles. Ranjona Banerji

Nepal and Bhutan Feel Ripples From Modi’s War on Corruption

Despite the low ceiling for exchange of the old high-denomination notes at Rs 10,000 per month, the RMA governor said that there were concerns that Bhutanese banks may run out of smaller value Indian rupee notes. Meanwhile, Nepal has banned all financial transactions in Indian rupees. Devirupa Mitra

Modi’s Demonetisation Plan Brings Bouquets, Brickbats and Words of Caution Too

Nitish Kumar said the move would be beneficial in the long run, but others like Mamata Banerjee, Sitaram Yechury and Thomas Isaac were critical of it. Gaurav Vivek Bhatnagar

Notes and Numbers: How the New Currency May Resurrect an Old Language Debate

The cacophony of analyses on the demonetisation has overlooked the quieter yet constitutionally significant issue of the new notes having Devanagari numerals printed on them. Kavin Aadithiyan and Sahil Mathur

Why Demonetisation Could Fail to Make a Dent on Terror Financing

Although demonetisation will deal a severe blow to the black economy, corruption, inflated pricing and tax evasion, terrorism – which is cheap and can be funded by kosher resources – will remain largely unaffected. Raghu Raman

Demonetisation Scenarios: A Goa Mining Tycoon, a Dal Merchant And a Punjabi Politician Walk Into a Bank…

How will Modi’s so-called surgical strike on black money play out for people with varying occupations and with various reasons for dealing with large cash transaction? Anuj Srivas

The Demons of Demonetisation

While farmers and informal sector workers suffer, the move to demonetise Rs 500 and Rs 1000 notes will have little impact on black market offenders. Randeep Singh Surjewala

Why ATMs are Struggling Under the Pressures of Demonetisation

Was the November 11th target for re-opening of ATMs unreasonable? Long-term neglect and quality-of-service issues aren’t helping either. Anuj Srivas

Watch: Bad in 2014, Great in 2016 – BJP’s Flip-Flop on Currency Exchange

In 2014, the UPA government asked people to exchange their pre-2005 currency notes for new ones. BJP had condemned this move calling it a detraction from the larger issue of black money and also said this would severely impact the common people. But doesn’t BJP’s same argument apply to their newly announced current policy of demonetisation? The Wire Staff

Modi’s Demonetisation Plan Disregards Lessons from Previous Governments

Demonetisation aims to eradicate black money, but the move deflects attention from the core issue to a dramatic action that may fail to tackle the problem. Nilanjan Mukhopadhyay

Day After Backing Centre’s Demonetisation Plan, Trader Association Voices Dissent

The Confederation of All India Traders said small and medium businesses were severely impacted, and appealed that they be authorised to accept at least one higher denomination note from consumers with KYC details. Ajoy Ashirwad Mahaprashasta

Decision to Demonetise Currency Shows They Don’t Understand Capitalism: Prabhat Patnaik

In conversation with economist Prabhat Patnaik on the government’s decision to demonetise Rs 500 and Rs 1000 notes. Jahnavi Sen

Pieces of Paper: Demonetisation of Rs 500 and Rs 1000 Notes Explained

Aimed at combating corruption and black money, this move will also cause short-term pain and chaos for the working class, small businesses and nearly anybody who deals with cash on a daily basis. The Wire Staff

  • Ramesh

    Modi Sir,
    Next three years will be a very big challenge. I know only PM can not do everything. But preparedness & a proper analysis of ground realities before embarking on such a change like OHD demonetization. Whole India is suffering and facing uncertainty about what next. And many senior economic experts have voiced their views & concerns about the real benefits of OHD demonetization. Frankly speaking, I am a common man and least affected as of now. But I am not sure about next two three weeks. My earnest request to you is answer all the above concerned voiced by senior economists/politicians to the general public and do not leave India till the crisis is fully over. I have very high respect for you for what you want to achieve with all your noble intentions for the development of the great nation India i.e. Bharat.