Colin Todhunter writes: At a time when India commemorates the end of British rule, it finds itself under siege from international capital. Its not only on course to become an even weaker and more hobbled state permanently beholden to US state-corporate interests, but it is heading towards environmental catastrophe much faster than many may think.
R. Jagannathan, Editor, Swarajya Magazine, writes: It is time for a mea culpa on demonetisation. This writer has been largely positive on the medium-to-long-term benefits of notebandi, as opposed to its short-term downsides. Now, especially after the farmer agitations for loan waivers, I believe the negative side is larger than the positive. It has failed.
From People’s Archive of Rural India: From farmers being shot dead in Mandsaur, Madhya Pradesh, to those across Maharashtra out on the streets, to those from Tamil Nadu on hunger strike in New Delhi not so long ago, this has been a season of agrarian discontent. Why is this happening, which way will it go?
This series of timely reports from Hindustan Times surveys the explosive situation in Madhya Pradesh’s Mandsaur district, epicenter of the violent protests that left six farmers dead from police bullets. The lead article looks at the impact of demonetisation in creating the crisis, while another report examines the role of social media in organising farmers.
IndiaSpend reports: A plentiful harvest in 2016 and imports drive some prices down 63%. A shortage of cash because of demonetisation. Despite Rs 3.5 lakh crore– invested over six decades to 2011, more than half of all farms depend on rains. These are the three factors agitating India’s 90 million families who depend on farming.
Kirankumar Vissa writes; Everyone in the media has been talking about the slew of pro-farmer measures included in Budget 2017, how it is a Budget for the ‘have nots’ and one that will give a big fillip to agriculture. It is time to call this Budget what it is–a big prank on India’s farming community.
Live Mint reports: Agriculture is likely to be the worst affected by the note ban, because 1) The policy coincided with harvest of kharif crops, and farmers are facing difficulty selling it. 2) Lack of cash must have posed difficulty in sowing of rabi crops. 3) Unlike other sectors, farm output is perishable in nature.
Milind Murugkar writes: ‘Why doesn’t the informal sector, supposedly badly hit by demonetisation, protest or scream in pain?’. Defenders of demonetisation often pose this question. If you want an answer to the question, please listen to Sachin Jadhav. His story takes us through the long chain of economic loss and suffering of the rural population.
The digital economy is a design for atomisation, for separation… Imposing the digital economy through a “cash ban” is a form of technological dictatorship, in the hands of the world’s billionaires. Economic diversity and technological pluralism are India’s strength and it is the “hard cash” that insulated India from the global market’s crash of 2008.
Devinder Sharma writes: After a month of demonetisation, the picture in the rural areas remains too bleak. I know of villages where the farmers had to return empty handed even after seven days of queuing up. As a TISS study points out, nearly 81 per cent of the villages do not have access to banking.
Shankar Gopalakrishnan writes: Demonetisation’s biggest impact will be on the distribution of resources within the economy, whatever happens to the economy as a whole. Demonetisation’s a giant vacuum, sucking up the resources of the weak and delivering them to the powerful, while acting like it’s doing the opposite. More importantly, this transfer will be permanent.
Acclaimed journalist P. Sainath reports from rural Maharashtra: The “Modi masterstroke”, a term contrived by assorted anchors and other clowns on television to hail an unbelievably stupid action, is spreading agony and misery in its wake across the countryside. If there’s been any stroke, it’s the one the heart of the rural economy has suffered.
Is ‘crony capitalism’ behind Rajan’s impending exit? RBI has been cracking the whip on major banks, collectively saddled with Rs 5,00,000 crore of bad loans. The banks in turn started forcing big debtors–including Reliance, Essar and Adani-to sell prized assets to repay debts. The numbers in this May 8 report in The Hindu speak volumes.