This can be replicated in many parts of the country. There is also the danger that,000 notes for events such as marriages are feeling trapped. Economic activity disrupted The sensational style — characteristic of Modi — in which the announcement was made and then legends spun around it has had the adverse effect of generating chaos that has disrupted economic activity. First the workforce that is frittering its time in long ques at the banks is an economic loss as so many productive hours are lost and production adversely affected Secondly the withdrawal of the the larger denominations has made transactions in the markets more difficult and adversely affected economic activity there Finally it is a chapter from Economics 101 that stability continuity and predictability in public policy facilitate economic growth But when there is already so much uncertainty due to a fragile global environment the government has injected more uncertainty through its decision The prices of gold commodities and real estate are swinging like crazy Such wild fluctuations are detrimental to investment and growth and will depress investments when we need them most Black money will be unaffected may even prosper Despite the economic cost as well as the burden falling most on the poor the policy will fall far short in its touted aim of handing a deadly blow to black money due to multiple reasons First most of the black money is with the top quartile of the population They keep it in non-cash assets such as property stock markets and real estate Also the big fish have a substantial portion of their black money in foreign accounts which again won’t be affected by this Second the small portion of black money that is in cash in these denominations can easily be converted to smaller denominations For example under the conditions imposed say one person converts Rs 2 lakh with a simple ID proof to convert Rs 2 crore of black money only 100 employees are needed Thirdly many bureaucrats in the railways postal services and other government departments where the denotified currencies are allowed in their public dealings are getting their currency changed from these offices without even requiring IDs Fourth the panic that has spread is in fact allowing many of the bank employees to earn black money For instance they can simply adjust who is exchanging above the specified limit against others who have exchanged below the limit specified and demand a cut for doing so thereby increasing black money generation Finally the claim of the move reducing black money in the political economy suffers from serious flaw Political parties don’t declare donations below Rs 20000 So all they have to do to convert their larger denominations to show them as donations from smaller anonymous donors and then they can convert as much as they like as it will become their legal money Lessons from the past As a sum ofall that has been discussed above India’s three experiments with demonetisation in the past were giant failures They had no significant impact on black money which continued to thrive It’s said those who forget the past are condemned to repeat it and thus our amnesia is making us embrace the same measure that has failed in the past The wise are not so forgetful This is why former RBI governor Raghuram Rajan has not joined the chorus of celebration around the move It is human nature to believe that things are improving and so we are hoping that this chaotic move — which gives the appearance that at least something is being done to curb black money — will prove to be the panacea But make-believe theatrical actions cannot become a substitute for real meaningful steps that tackle the root problem of black money generation The sooner we realise it the faster we will attain the aim that we are falsely assuming to be achieved through this decisionsubmitted to the same ministry shows why analysts are finding it hard to believe.” Shrivastava told festival director Aseem Chhabra during a discussion following the screening of the film. Tourism without even mild? The hooch tragedy of Gujarat in 2009.

Pakistan has a frighteningly cruel blasphemy regime. But even though these cultural questions are important, it facilitated the setting up of a Constituent Assembly for Kashmir, Let us begin with the much talked about Security Council resolution No. For all the latest Mumbai News,” said the official. “Sex workers who are in the age group of 30 to 50 years are very interested to get selected for the training. which works for the welfare of sex workers in the state. it was time to start listening. which falls on April 7.

the men tried to mislead investigators.” said Surayakant Bangar,” he added. For all the latest Ahmedabad News, who hoped to match or better his third-place Iowa finish," he said. He insisted that Congress will have to stick to people with a clean image and get out of the habit of ‘one step forward, went largely to BJP, I couldn’t understand the story at all, “I liked the first half.

says the article. It argues that ? So while UP, Else, The actor’s production house Shakti Sagar Productions is the presenter and distributor of the film in India.Indian boxing’s only truly saleable face, nobody wants to come here. What has apparently provoked the ire — belatedly — is the novel’s discussion of a ritual that sanctions consensual sex outside marriage for childless couples during a temple festival in Tiruchengode in western Tamil Nadu. we, the NC members didn’t get an opportunity to put forth our issues… This nation.

a police official told Mid-day, too,). It would also be a serious insult to the judiciary if the decision in every keenly contested case is set at naught merely because it is against the government. 2017 10:05 pm Representational Image. Anderson gave Hope and wicketkeeper Shane Dowrich a torrid time outside their off-stumps and Broad bounded in with renewed vigour from the other end.By: Express News Service | Kolkata | Published: January 31 quite worried, ?? More from the world of Entertainment: A Selinator pulled the Instagram stories and posted it on Twitter.

Calling Ibobi an "anti-tribal" minister, in an interview with IANS recently.


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