Interview: ‘We have underestimated the extent of India’s jobs crisis. It is far more serious’

and gosh. one more frikking q&a. On Thursday, a political storm boiled over after Business Standard reported that, between 2017-’18, unemployment numbers in India reached a 45-year high. The newspaper based its report on a survey, conducted by the National Sample Survey Organisation, called the Periodic Labour Force Survey that the government had not made public.  According to […]

On the six factors which cumulatively added up to India’s unprecedented cash squeeze

India’s current cash crunch is a real enigma. To begin with, there is its sheer unprecedented nature. In all the years since Independence, India has never seen something like it. “We have heard of coin shortages but never a cash shortage,” said MS Sriram, visiting faculty at the Indian Institute of Management-Bangalore’s Centre for Public […]

‘Is the pain worth it?’: 50 days after demonetisation, rural South India has a few questions

On November 9, life suddenly came to a standstill in Chikka Tirupathi, Bagalur and Hosur. As in the rest of India, the first day of demonetisation in these towns abutting the Karnataka-Tamil Nadu border was marked by problems in conducting day-to-day trading for small businesses and a frenzied hunt for Rs 100 notes for families. […]

An update from Patna’s Maroofganj mandi

ten days into #notebandi, patna’s Maroofganj mandi had frozen. As demonetisation enters its second week, traders in Patna’s Maroofganj mandi are seeing something unprecedented. In the last seven days, the supply of new stocks in this wholesale market, which supplies cooking oil, spices, rice, wheat and pulses to shopkeepers across Patna, has plummeted. The supply […]

The lid on illegal sand mining in TN might finally be lifted (but perhaps for the wrong reasons)

In a day of fast-paced developments, Income-Tax Department officials raided the house of Tamil Nadu Chief Secretary P Rama Mohana Rao on Wednesday morning where they seized Rs 30 lakh in cash in new, post-demonetisation currency notes, according to the Hindu. Later in the day, Central Bureau of Investigation sleuths also arrested Shekar Reddy, one […]

Ground report: In Bihar, murmurs of protest break the sullen silence against demonetisation

Banka was the last stop before returning to Patna in this reporter’s travels from North Bihar to South Bihar, to get a sense of how notebandi was impacting the structures of everyday life. The journey had started with Raxaul, on the India-Nepal border, on November 18, exactly 10 days after notebandi was announced. Heading south, […]

Money is trickling into the banks of Bihar – but is not being distributed evenly

A month after Prime Minister Narendra Modi announced the scrapping of Rs 500 and Rs 1,000 notes on November 8, cash availability is starkly uneven across Bihar. In relatively affluent parts of the capital city of Patna, the long queues outside ATMs seen in the first week of notebandi, when the government invalidated 86% of […]

Demonetisation: In a hamlet in Bihar, income and expenditure is down, but hopes are up

The last 30 days have not been easy for the people of Bhindu Paimar. The standard demonetisation narrative has played out in this tola (hamlet) in Karjara panchayat in Gaya, Bihar, about 20 km from Gaya city, on the road that leads to the ancient Buddhist university of Nalanda. Earnings have fallen. Most people in […]

The demonetisation effect on border town Raxaul: Income loss, dependence on Nepalese currency

My second field trip in Bihar took me from Patna to Raxaul in the far north. A couple of days there, and then I began trickling southwards. Bettiah. Gopalganj and then Darbhanga. And then Patna again. I will head further south tomorrow — towards Gaya — before turning northeast towards Nalanda and then straight east […]

Cauliflower sells for Rs one a kilo in Bihar as demonetisation depresses demand

At first glance, it looks like any other day at the mandi in Bettiah. Trucks stand next to the concrete arch that leads into the fruit and vegetable market in this small town in northern Bihar. Inside the mandi samiti, as the precinct is called, hawkers sit with baskets bursting with vegetables. The shops seem […]

How four families have survived two weeks of demonetisation

reported for this story. Prime Minister Narendra Modi’s decision to do away with Rs 500 and Rs 1,000 notes has not been good for Guddu Sharma’s family. Sharma, 24, lives with his wife and two sons near Patna’s Boring Road, and runs a men’s salon about 30 minutes away. Since the prime minister’s announcement, he […]

Demonetisation has left India’s food markets frozen – and the future looks tense

As demonetisation enters its second week, traders in Patna’s Maroofganj mandi are seeing something unprecedented. In the last seven days, the supply of new stocks in this wholesale market, which supplies cooking oil, spices, rice, wheat and pulses to shopkeepers across Patna, has plummeted. The supply of cooking oil, for instance, is down by 80%. […]