Demonetisation and agrarian crisis exposed consequences of financial exclusion: Report


NEW DELHI: The sudden move to demonetise a bulk of Indian currency in circulation and the deteriorating agrarian distress in the country have exposed the consequences of financial exclusion, said a report released Tuesday.

The India Exclusion Report 2017-18, brought out by Centre for Equity Studies (CES), said people's ability to spend, receive wages and survive depended crucially on whether they were part of the banking system or not after 84 per cent of all cash in the economy was made invalid on November 8, 2016.

"The experience of demonetisation as well as the further deterioration in the crisis in agriculture has brought to the forefront the consequences of financial exclusion in India," it said.

The report comes a nearly a week after farmers from across the country gathered in Delhi to highlight their issues. They marched peacefully in the national capital and demanded that the government ensure remunerative prices for their produce and the implementation of the Swaminathan Commission Report.

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The Economic Times, 4 December, 2018,

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