Your weekend reading list is here
GN Bureau | November 12, 2016
While you are in queue to get your cash replaced at banks and post-offices or awaiting your turn at ATMs, we present a quick reading list that might give you certain idea on demonetisation, black money and chosing the cashless path
Can you imagine a day without cash? The answer is an obvious ‘no’. The rustle of notes and jingle of coins still have the power to light up any face. In fact, more than 99 percent of transactions by volume are still in cash payments in India, according to a McKinsey Global Insights report. Some argue that this overdependence on physical money is due to challenges like inaccessible banking services, lack of infrastructure to support non-cash payment and internet connectivity, which continue to persist, especially in the rural and remote regions of India. Others say that Indians are simply cash-obsessed. But this obsession is costing a fortune to the economy. The Reserve Bank of India (RBI) and commercial banks annually spend Rs 21,000 crore ($3.5 billion) to print and circulate currency notes and coins, and to keep them safe. Citizens of Delhi alone spend Rs 9.1 crore – and 60 lakh hours – to withdraw and manage cash, according to a 2015 report by the Institute for Business in the Global Context.
Read the full story on Case against cash
If banning high denomination currency notes can curb black money, the whole problem would have been solved in 1978 – when the Morarji Desai government did it.Banning Rs 500 and Rs 1,000 notes will certainly bring out all the hoarded cash. But after the cleaning-up operation is over in December, there is simply no way to stop generation of fresh black money – with new Rs 500 and Rs 2,000 notes. In other words, the Modi government move is bold indeed, but do not expect the scourge to go down by even one percent from next year. For that, far bolder decisions are needed, which are yet to come – from this government or its predecessors. Here is a sampler of the possible and real surgical strikes:
Read here : Surgical strike? This was aspirin for cancer
A successful effort to take high speed internet to over six lakh Indian villages by an IIT Bombay team failed to get support from the government. But, the same indigenous television white space technology developed by the team has now won Mozilla Corporation’s ‘equal rating innovation cha
Delhi Jal Board, in collaboration with University of Virginia on Thursday unveiled the Yamuna River Project with a symposium cum exhibition as a part of the overall effort to map out an expansive, multidisciplinary prescription to clean Yamuna. The discussion opened on the lines of eradicati
Over 22 crore LED bulbs have been distributed by Energy Efficiency Services Limited (EESL) under UJALA scheme, union minister Piyush Goyal informed the Lok Sabha. The minister said that the National LED programme, called Unnat Jyoti by Affordable LEDs for
The Central Pollution Control Board (CPCB) has identified a total of 764 Grossly Polluting Industries (industry discharging more than pollution load of Biochemical Oxygen Demand 100kg per day) along the entire stretch of river Ganga and its tributaries, the Lok Sabha was informed.
As many as 196 dams in India are over 100-years old, union minister Sanjeev Kumar Balyan informed the Lok Sabha. The minister said that National Water Resource Council adopted National Water Policy 2012 on December 28, 2012. The policy mentions that
The government has requested the Law Commission of India to undertake examination of various issues relating to uniform civil code, the Lok Sabha was informed. Union minister PP Chaudhary said that said that Article 44 of the Constitution relating to Dire