Officials said Reddy and two associates were arrested yesterday under provisions of the Prevention of Money Laundering Act.
An extract from ‘Demonetisation Decoded’ by Jayati Ghosh, C.P. Chandrasekhar and Prabhat Patnaik, talking about what explains the government’s decision and popular support for it.
Extracts from C. Rammanohar Reddy’s Demonetisation and Black Money that explore whether the note ban had any impact on the rich, how Digital India entered the narrative and the impact of the move on the poor.
Despite the strong mandate, Modi still faces a struggle to implement reforms to boost growth and jobs.
People suffered but voting may have been driven less by anger over the damage to immediate economic interests than by their belief that a ‘decisive’ Modi would make them better off in the long run.
This ‘moral cleansing’ project of the prime minister has played a big role in enabling him to break through caste barriers to create a larger social coalition.
The 60-page report looks at the impact of the note ban on growth, inflation and a wide range of organised sectors.
Recent events show that Babasaheb Ambedkar’s fears of democracy giving way to dictatorship if the authority of its leaders remains unchecked may not have been unfounded.
Post demonetisation, the government has been focusing on increasing digital payments and even incentivising people to move away from cash payments.
The re-monetisation exercise should be completed in two to three months, RBI deputy governor Viral V. Acharya said on Monday.
In the Uttar Pradesh elections, the simple question of people wanting to create their own history shall remain buried along with democracy.
Latest news updates from the world of work.
We often tend to trust a statement or an argument simply because it conforms to our already-held beliefs, regardless of the strength or weaknesses behind its rationale and the veracity of its claims.
While the bank has denied rumours of a potential merger, what issues need to be considered? The bank’s operations and the state of its loans needs to be minutely examined.
Sharp estimate revisions, channel stuffing and the hypothetical schism between formal and informal sector growth. What makes sense, what doesn’t and what is perhaps slightly questionable?
Campaigning in eastern UP, Modi has tried every trick in the book – polarisation on communal lines, fiscal giveaways and pitting the poor against the rich.
Has the government simply kicked the can down the road?
Forcing people to use digital payment methods will require the government to increase the cost of using cash, which will be a greater burden for the poor.
Discussion on serious economic challenges currently faced by India is either absent or trivialised in this year’s Economic Survey.
Despite the hardships, why do many people continue to back what most economists and analysts have termed a bad policy?
UP’s assembly elections will reveal voters’ ability to separate the truth from the fanfare of election rhetoric, number crunching and exit polls.
The rationales behind the surprise move – targeting black money, terror financing and building a cashless economy – have all failed to elicit results. Why then was this exercise undertaken at all?
While demonetisation and the resultant hardships have tarnished the reputation of the BJP-led central government, the Samajwadi Party’s record of criminalised politics may become a roadblock for it.
With little hope for normalcy even 100 days after the note ban, there is an urgent need for providing relief and compensation to those who have been most affected.
If the government is serious about addressing the black economy, fundamental changes in the structure and organisation of the economy and politics are required.
A survey of daily wage labourers in Ranchi and surrounding rural areas shows that demonetisation was more than a short-lived shock for the informal sector.
A drastic decline in residents’ employment opportunities and incomes since the note ban has added to the existing woes of hunger, malnutrition, poor sanitation and drainage congestion.
If an economic slowdown occurs due to demonetisation, the self-worth and honour of the extremely backward castes communities may be affected. How this plays out in the upcoming state assembly elections remains to be seen.
When a man has his back to the wall, he sometimes loses control over his tongue.
Both the former and current RBI governors are surely acquainted with the Gujarati saying “Kona Baapni Diwali”. This cannot be the Centre’s stance when it comes to solving India’s NPA crisis.
Unusual citations in the survey could indicate the awkward situation of the chief economic adviser, in the face of interference by the finance minister or even the prime minister’s office.
Weekly round-up of news from the world of work.
The RBI’s statement, the first after the Budget, carries forward the Budget’s message of fiscal discipline and consolidation.
The RBI is opting to wait for more clarity on inflation trends and on how a radical crackdown on “black money” is impacting economic growth.
As the second round of tripartite talks failed to put an end to the over three-month-long economic blockade, a look at the lives of the people who are most impacted.
There’s very little sensitivity being shown in forcefully shoving India’s small traders and producers into the formal economy. To what extent will this affect the BJP’s support base?
If the monetary policy committee waits until April, it will have a better idea of demonetisation’s negative impact and a firmer grasp of global commodity price trends.
Given the imperious attitude of new leaders to institutions of the old order, the questioning of central bank independence is a given.
The Budget appears to be pro-poor and pro-business, but it fails to address the reforms actually needed to structurally transform the economy.
Proposed amendments to the IT Act and the RBI Act will exempt political parties from keeping records of donations made through electoral bonds.