Economy

DeMonetisation and Digital Payments

DeMonetisation did not promote the uptake of digital transactions Driving India towards a less-cash, digital payments economy was one of the aims claimed by the Prime Minister when he invalidated 86% of India’s circulating currency. The reasoning was that India was a largely cash-based economy; if circulating cash was reduced, people would rapidly move towards …

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Misusing Statistics

Apologists for Prime Minister Modi’s Demonetisation policy are now claiming it led to a  big rise in direct tax revenues for Financial Year (FY) 2016-17. See, for instance this from Swarajya:  Does this stack up? The obvious logical flaw in this line of reasoning is the well-known ‘Post hoc ergo propter hoc’ fallacy. This is …

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Grape season in peril in Nashik due to demonetisation

End of January marks the grape harvest season around Nashik. After falling prices after demonetisation led farmers to slash down standing tomato crops last month to make way for emergency sowing of wheat to eat, hope had rested on the grape crop coming up. However for all the reports in media about farmers adopting cashless …

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