The government’s attempts to reduce the CIC-GDP ratio by merely reducing currency in circulation without the necessary structural reforms are likely to have deleterious consequences.
Demonetisation has not dented the black economy, but it has damaged the white economy, especially the unorganised sectors.
The Modi government’s claim that the public supports demonetisation ignores the localised agitations and dissenting voices from across the country.
Demonetisation has proved that it’s time we revisit what Gandhi and his colleagues had to say about public welfare and the importance of decentralisation.
Calculations based on the meagre numbers the RBI has released prove that the government’s aim of extinguishing black money has fallen flat.
Jadhav talks to The Wire’s founding editor why he supports the move and answer questions about how he thinks demonetisation, along with other planned moves to curb corruption, is going to affect our economy in the long term.
According to doctors working in hospitals providing low-cost treatment, the number of patients has reduced by about 30% since demonetisation.
A daily round-up of the human impact of demonetisation.
Either parliament has been misled by the government or claims about the supply of new currency by the RBI are flawed.
While citing the Wanchoo Committee’s recommendations on demonetisation, the prime minister conveniently left out that the committee was against voluntary disclosure and tax amnesty schemes.
President Maduro suspended the elimination of the country’s largest denomination bill, which had sparked cash shortages and nationwide unrest.
India falls well short of the pre-requisites needed to become a digital economy.
Many have lost their job and even those who continue to work are facing a major demand crunch – leading to widespread pessimism about when things will get better.
Not only are villagers unable to access timely medical care because of the lack of cash, nutrition levels are falling, making people more vulnerable to illness.
A look back at how demonetisation has affected everyday lives and the country’s economy since it was enforced.
In the India-Switzerland agreement, there is no sense of urgency to bring back the kind of black money that will increase tax revenues without burdening the common person.
The order was issued by the Karnataka high court on a writ petition seeking the removal of the cap on withdrawals imposed by government and RBI.
By avoiding questions on when the situation will normalise and suggesting that the growth forecast doesn’t take into account the transitory impact of demonetisation, Urijit Patel is shunning responsibility.
In Bhandewara, villagers waiting in the long bank queue are leaving either with coins or with nothing at all.
The absence of certain safeguards, regulations and penal provisions have meant that this time’s demonetisation drive may not be a success after all.
A daily round-up on the human impact of demonetisation.
Elaborate tax frauds are committed by corporate giants in a squeaky clean, cashless financial environment – why isn’t the government going after those?
The government has ordered banks to open accounts for all tea garden labourers by December 5 so that wages can be transferred into accounts, but owners and labour unions think this is an impossible task.
A large chunk of India’s farmers continue to depend on commission agents and not formal institutions for credit, thereby relying on cash.
Refugees with no legal documents are unable to exchange old currency, except at discounted rates with local traders.
While the army was able to conduct surgical strikes across the border and undertake relief operations during the Chennai floods, India’s bankers have been unable to rise to the battle cry in the aftermath of demonetisation.
The ripple effects of demonetisation are only beginning to show. If the cash crunch continues, production, employment and investment will be affected in both the informal and formal sector.
Demonetisation has disrupted every stage of the processes that keep India’s large cotton and silk production-based economies churning.
The European Central Bank prepared for almost three years before the EU began using the euro, with the public fully informed.
According to police statistics, the number of stone throwing incidents fell drastically in October – before demonetisation – and has remained stagnant since.
Demonetisation is a political move couched in economic terms. Calling its fallout as mere ‘inconvenience’ insulates it from popular dissent.
A petition filed in the Supreme Court argues that a decision like demonetisation, pivotal to monetary policy, can’t be left to the whims of the Centre.
An equity firm has estimated that GDP growth will crash to 0.5% in the second half of the current financial year.
The facility is available at 2,500 petrol pumps across the country that have State Bank of India card swipe machines.
Shome Basu captures the endless wait of numerous citizens as they queue outside banks and ATMs to withdraw money after the government decided to demonetise Rs 500 and Rs 1000 notes.
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.
With shortages of essentials imminent, traders, wholesalers and those in the transport sector have said special camps and queues for current account holders is the need of the hour.
The latest decision comes after the finance ministry announced on Sunday changes to the previously set limits on exchanging the demonetised currency, and on withdrawals from banks and ATMs.
A series of articles that analyse what happened, the reasons behind it, its effects and what to expect next.
Doesn’t the BJP’s argument from 2014 apply to their current policy of demonetisation?