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Demonetisation showed fake currency was a myth, says Bombay High Court

he court asked the Reserve Bank of India why it felt the need to constantly change the sizes and features of currency notes and coins. The Bombay High Court on Thursday said the government’s Demonetisation exercise showed that it was a myth that fake currency was in circulation. While hearing hearing a public interest litigation seeking to make currency notes and coins easily identifiable for vision-impaired people, the court asked the Res

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Civil society activists condemn the statement by Rural Development Minister in Parliament on discontinuation of MGNREGA scheme

the country is a measly 2.6%. At a time when large parts of the country are experiencing yet another drought, unemployment is at a historical high and the poor are still recovering from 2016’s Demonetisation which crippled the informal economy and led to job-losses for millions across the country, rural wages remain stagnant. The Supreme Court has repeatedly upheld minimum wages as a fundamental right and equated payment of anything less as

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Former CEA rubbishes government arguments; sticks to claim of India overestimating GDP growth

iod he deduced to have seen GDP growth being overestimated by 2.5 percentage points, the Indian economy was hit by a series of shocks – export collapse, twin balance sheet problem, drought, and Demonetisation. “Growth in real credit to industry collapsed, falling from 16 per cent to minus-1 per cent, mirrored in the official figures for real investment growth, which declined from 13 per cent to 3 per cent; Real exports fell from 15 per

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MP Raju Shetti, Maharashtra's foremost farmer leader and president of Swabhimani Shetkari Sanghtana, interviewed by Ajaz Ashraf (

he Green Revolution. Our population today is around 136 crores. Where will you get food grains for them through zero budget farming? This is sheer madness. Zero budget farming is as mad an idea as Demonetisation. It will, if implemented, ruin the country as Demonetisation did. * Palekar has claimed that none of the farmers who adopted zero budget farming has committed suicide. [Laughs heartily] You

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More of the dismal same -Prabhat Patnaik

needed to break new ground, provide a thrust to a slowing economy. This budget lacks innovation. Economics has never been a strong point of the NDA government. Its only two major economic forays, Demonetisation and the GST, have both turned out to be pretty disastrous. It was futile, therefore, to expect much from the Union Budget for 2019-20. Even so, one is surprised by the budget’s lack of engagement with the current problems of the econo

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Economic Survey's Call for MGNREGA to Become 'Rural Distress Indicator' a Nod to Jobs Crisis?

ents when it comes to workers' wages. New Delhi: In tacit acceptance of the sudden surge in demand for jobs under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) following the Demonetisation move of the government in 2016, the Economic Survey (released this July 4) has called for using the scheme as an indicator of rural distress.      “Demand for work under MGNREGA may be used to develop a real-tim

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Which one is a better indicator for depicting the problem of joblessness -- Proportion Unemployed or Unemployment Rate?

yed (viz. unemployed persons who were willing to work and actively looking for a job earlier) decide to leave the labour force due to dearth of employment opportunities (something that happened after Demonetisation), then both labour force participation rate and the unemployment rate will go down. What does the WPR data show? It could be seen from chart-1 that at the national level, the proportion of employed persons in the rural working-age po

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The great Indian GDP debate, explained in five charts -Pramit Bhattacharya

2017, raising growth for that year by 1.1 percentage points to 8.2 percent, the highest in a decade. Stunned economists were unable to fathom how such a large revision could take place in a year when Demonetisation had sucked out 86 percent of the cash in circulation, and evidence from other sources indicated that the economy was hit even if temporarily by that move . In a joint statement in March, 108 economists and social scientists highlighted t

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Why farmers voted for BJP -Parth MN

nmohan Singh-government recorded 3.7 per cent agriculture growth. In the first four years of Modi, however, it was merely 1.9 per cent, lowest among all. Moreover, people thought decisions such as Demonetisation and beef ban, which directly had an adverse impact on farmers, would reflect in the outcome of the elections. However, May 23 told a different story. Please click here to read more.

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Apple Goes the Sugarcane Route: Hundreds of Crores Unpaid to Growers in Himachal -Kabir Agarwal Apple growers held Demonetisation responsible for the problem, as agents do not pay them at the time of sale by claiming money is not in circulation. Shimla: Sugar mills in Uttar Pradesh are notorious for delaying paying the dues of sugarcane farmers by several months, and often even by years. Now, arthiyas (commission agents) in Himachal Pradesh have decided to compete with the sugar mills. Outstanding dues of apple growers in

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