While digital transactions have started ebbing, with cash remaining king in the real estate sector, what has been hit are new investment proposals and the informal economy in general.
Analysis using Milton Friedman’s theory shows India’s GDP growth is likely to crawl back to its long-run level. However, we cannot deny the loss in interim GDP because of demonetisation.
Look at the image carefully. The face of the man tells us countless stories of hardships suffered and misfortunes borne because of demonetisation. It is another matter that those who can and should ease his pain never even registered the photo in the first place.
The prime minister’s ‘rich versus poor narrative’, which helped sell demonetisation in its first few months, is collapsing in the face of devastation in the informal and formal sectors.
What matters now is the meta narrative about how India debates, makes and implements policies. If too many people in politics feel that this kind of decision won the Uttar Pradesh election, then we may have more of such actions
Demonetisation crippled an economy that ran on cash; it destroyed the livelihoods of millions of farmers, workers, traders, women and the elderly; and it violated the dignity and liberty of law-abiding citizens.
While the negative impact of demonetisation can still be felt, the gains have been minor and could have been achieved even without the disruptive move.
At a time of rising income and wealth inequality, the egalitarian goals of socialism seem quite compelling. But if the production system is allowed to remain capitalist, socialism will face formidable challenges. How then can we square the circle?
Most cashless modes saw growth spike in the immediate months after demonetisation but subsided in the following months.
Speaking to The Wire, Kumar also defends the Modi government’s handling of GST, and its record on employment and GDP growth.
Modi blamed the former prime minister, saying that if she had done what needed to be done, “the nation wouldn’t have been in this situation today”. How true is this? The Wire breaks it down.
The Life of Labour: 32 Workers Killed in NTPC Accident, India Falls 10 Places On The Gender Gap Index
Latest news updates from the world of work.
While there is no direct evidence of wrong-doing or illegality, the leaks provide an interesting window into the manner in which money is moved, manipulated and hidden behind complex corporate structures around the world.
Hitting Rs 2.22 lakh crore at the end of March 2016, the debt has risen due to the rising costs of Gujarat’s infrastructure projects and ill-advised investments in state-owned companies and statutory corporations.
Instead of attempting to regulate these companies through external mechanisms, we need to ride the wave of Big Tech awareness to demand transparency and accountability.
India currently lacks comprehensive estimates of all occupational accidents, fatalities and injuries that occur across industrial sectors.
Gold is widely seen as a safe investment option in times of economic crisis. So is the gold import surge a sign of falling confidence in the Modi government’s economic management? New Delhi: The twin curse of gold and crude oil is revisiting India after peaking in 2013-14 […]
While incentives and subsidies are available and common for the suppliers and consumers of Uber/Ola and battery rickshaws, autorickshaws have no such advantages. What impact has this had on auto drivers’ incomes?
To Boost Their Vidarbha State Ambitions, Gadkari, Fadnavis Try to Bring Investments to Sleepy Nagpur
The people of Vidarbha are happy to be part of a developed state like Maharashtra, but both politicians have other plans.
Years of political instability and economic mismanagement under the rule of ZANU-PF have left Zimbabwe’s financial system in chaos.
“We may note that huge amounts have been collected in the region of Rs 29,000 crores and not even 10% has been spent for the benefit of construction workers,” the court said.
Bioversity International’s aim is to create seed banks across the world and encourage farmers to grow crops suited for their region.
Anuj Srivas and M.K. Venu discuss what the World Bank ranking on ‘Ease of Doing Business’ really means and what it leaves out.
To build the ‘prosperity’ highway, the state plans to acquire around 21,000 acres of land. This includes six acres of Padmabai’s farm, where she cultivates cotton,bajra and moong.
Lack of awareness among street vendors about their rights and harassment at the hand of government authorities is defeating the very purpose of the Act.
The Central Information Commission has rejected an RTI plea seeking disclosure of records related to the discussions on the demand for handing over the NHPC projects.
If the rupee’s purchasing power has dipped from 19.77 yen in 1985 to 1.72 yen today, then after 50 years can a rupee buy anything more than just a fraction of a yen?
Close to 50 ASHA workers and two leaders of the movement were taken into police custody the day Narendra Modi visited Vadodara, apparently because the police was probing the possibility of opposition parties backing the protest.
For most of the past ten years, the economy has been suffering because of the unrelenting regime of very high real rates of interest that the RBI has imposed.
While ministries and Central government institutions have enthusiastically pushed khadi and khadi products, the actual sales figures haven’t quite touched the numbers touted by the prime minister in his latest Mann Ki Baat address.
Latest news updates from the world of work.
Former finance minister P. Chidambaram talks about the Modi government’s handling of the GST, Robert Vadra, Karti Chidambaram, attacks on the opposition, Gujarat elections and more in an interview with journalist Swati Chaturvedi.
With increasing demand for Indian services worldwide and sustained support from the government, services exports have the potential to reach $300 billion by 2022.
All the gains that documents like the Economic Survey point to cannot hide the ugly reality about India’s social infrastructure, employment and human development.
Pests like aphids and scale insects, which until now have remained unseen in the region, have wrecked havoc on crops and lead to huge economic losses.
The NREGA workers group has blamed the Central government, banks and post offices for the delays in payment of lakhs of workers.
An NGO in Tamil Nadu is helping farmers adopt organic methods of farming to help reduce their expenses.
From Janardhan Poojary to Crony Capitalism: India’s Bank Recap Must Be Accompanied by Further Reform
While there are several domestic and international examples of recapitalisation bonds having worked, none of them have prevented further NPAs from piling up.
An interview with Carl Malamud, founder of Public.Resource.Org, on his legal quest to make the codes and regulations notified by the Bureau of Indian Standards available to the public for free without any payment.
While the government needed to kick-start growth and private investment, it is absolutely essential that promoters of defaulting corporate groups don’t end up laughing all the way to the bank.