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Saturday, February 27, 2021

Demonetisation

In a surprise move, the Central government has demonetised Rs 500 and Rs 1,000 currency notes. The move is aimed at fighting black money. Ever since the policy came into effect, people have queued up outside ATMs and banks to withdraw notes or exchange old currencies. The opposition has slammed the government with Trinamool's Mamata Banerjee calling for a rollback. Demonetisation has led to a logjam in Parliament. Demonetisation is a radical monetary step in which a currency unit’s status as a legal tender is declared invalid. This is usually done whenever there is a change of national currency, replacing the old unit with a new one. In India, it was first implemented in 1946 when the Reserve Bank of India demonetised the then circulated Rs 1,000 and Rs 10,000 notes.

DEMONETISATION NEWS

Experts: Demonetisation, lockdown reduced female participation rate at work

December 20, 2020 8:18 am

As per the ‘Consumer Pyramid Household Survey’ conducted by CMIE, in 2019-20, urban female employment rate remained at 7.34 per cent as compared to the 63.68 per cent among male.

Celebrating demonetisation akin to cutting cakes on victims' graves: Shiv Sena

November 10, 2020 11:40 am

The Sena also said that the BJP raised issues like the construction of Ram temple and death of Bollywood actor Sushant Singh Rajput in the Bihar Assembly polls, but they failed to click with the people.

The train of structural reforms set in motion on Nov 8, 2016, has led to formalisation of economy

November 09, 2020 9:40 am

Demonetisation played an important role in stirring a debate about the entrenched informality in the economy — what to do about it and how.

Four years since demonetisation: Cash in system steadily rising, at all-time high

November 09, 2020 6:57 am

After Rs 500 and Rs 1,000 notes were withdrawn from the system in November 2016, currency with the public, which stood at Rs 17.97 lakh crore on November 4, 2016, declined to Rs 7.8 lakh crore in January 2017 soon after demonetisation.

Four years since demonetisation, what PM Modi said on the outcomes of the move

November 08, 2020 8:06 pm

PM Modi said, "Demonetisation has helped reduce black money, increase tax compliance and formalization and given a boost to transparency."

Opposition must think harder about political economy of protest to counter new political economy of reform

October 23, 2020 11:05 am

Despite economic headwinds, it has not been easy to use the economy as a point with which to attack the Modi government. It has still positioned itself as a breaker of the status quo.

Fooling all the people all the time

September 27, 2020 9:29 am

Just as demonetisation was a disaster and economic mismanagement since 2017-18 is a continuing catastrophe, the two farm Bills that will become law will debilitate the Indian farming community and the agricultural economy.

Rahul Gandhi: Demonetisation contributed to GDP fall

September 04, 2020 2:08 am

Gandhi alleged that Prime Minister Narendra Modi wishes to make India a cashless economy while pointing out that the unorganised sector, which comprises the poor, farmers, labourers and small traders, works on cash.

Rahul Gandhi video series: 'Note ban, GST, Covid lockdown aim to destroy informal sector'

August 31, 2020 11:16 am

"Don't think as though there were no thoughts behind this lockdown. The aim was to destroy the informal sector," Rahul Gandhi alleged, adding that doing so will only result in lack of employment.

Noteban, 'faulty' implementation of GST, lockdown 'destroyed' India's economic structure: Rahul Gandhi

August 09, 2020 7:43 pm

Rahul's attack on the government came as the Congress' youth wing launched a "Rozgar do" campaign with the objective to raise the voice of the youth against alleged unemployment prevailing in the country. 

DEMONETISATION VIDEOS

‘Think of it the other way, not about govt raiding RBI, but how RBI could have behaved differently’

June 22, 2020 6:07 pm

In this edition of the Idea Exchange, Former Chief Economic Adviser Arvind Subramanian talks about demonitisation, defends GST, explains the reasons why growth has not been robust and reflects back on his tenure as Chief Economic Adviser of India.

The Agrarian Unrest Part 1: This could be the Narendra Modi government’s biggest problem

June 22, 2020 6:09 pm

Thousands of farmers from across the country have taken to the streets. ‘Dilli chalo’ is their slogan. What do they want? And is agrarian distress this government’s biggest problem? Harish Damodaran explains.

Why a leader is aligning with someone is more important that who aligns with who; Mamata Banerjee has a major role: Amit Mitra, Bengal Finance Minister

June 22, 2020 6:10 pm

Bengal FM Amit Mitra talks about demonetisation, the problems with GST, failing Centre-state relations, the need for protecting and building institutions such as the RBI and CBI, investments in the state, and what the BJP “doesn’t get about Bengal".

Express Eye for Detail Ep 12: Two years of demonetisation, the Diwali mess and Faizabad renamed as Ayodhya

June 22, 2020 6:11 pm

Two years on, The Indian Express learns that RBI did not approve of demonetisation and more about the week’s top stories in Express Eye for Detail episode 12.

How demonetisation and GST hit MSMEs: News in Numbers

June 22, 2020 6:11 pm

Two years on, we look at how demonetisation (and GST) had an adverse impact on micro, small and medium enterprises or MSMEs. Here are some of the concerns that MSMEs are dealing with.

Demonetisation, a success? Is it still a question: News in Numbers

June 22, 2020 6:17 pm

The shortage of cash, decline in GDP, loss to small businesses and daily-wage workers - was it all worth it if most of the demonetised money is back in the system?

Rahul Gandhi Has A New Avatar!

June 22, 2020 6:30 pm