Discover and read the best of Twitter Threads about #notebandi

Most recents (4)

Anybody interested in #India's #Economy should take 30 minutes time out and listen to this interview. There is both sound, credible analysis of the problem AND an entirely logical policy prescription. #AltSarkar @PIB_Altsarkar @fek_le @Vidyut
thewire.in/video/watch-ce…
A quick summary:
1. Our present problems can be traced back directly to the stupid, stupid move on Nov 8 2016 when 86% of the means of settlement of dues was taken out. Damn that #Demonetisation. We in #AltSarkar have to acknowledge it even if its defenders do not.
2. India's problem is a demand side problem. People have neither the free disposable cash now nor the confidence in their future to take a loan to go out and buy stuff.
3. You don't deal with a demand drop off by propping up supply side factors. #AltSarkar believes in logic
Read 15 tweets
#Demonetisation #Notebandi
1. Thread. Today the Government will try to refute the idea that the RBI numbers on 99.3% of demonetised currency being deposited in banks does not mean Demo was a disaster. Remember the following and watch out for some false arguments as well. 1/n
2. Remember PM Modi told us on 8 November 2016 that the Rs 500 and Rs 1000 notes with the corrupt will become worthless pieces of paper. Remember the govt told the Supreme Court that it did not expect 25%-30% of the demonetised currency to be destroyed. Well... 2/n
3. They will now say money coming into banks gives us an idea of who made large deposits and we can now catch the corrupt. Ask them how many of those who made large deposits have been identified, charged & punished since December 2016.The answer is not a single one 3/n
Read 8 tweets
#activists arrested:
Vernon Gonsalves, Arun Ferreira and VV Rao produced at the Pune sessions court at 3.35 pm. @AarefaJohari @scroll_in
(2/n) Prosecutor reads "resolutions" of groups referred to as "anti-fascist" front. Says intention was to overthrow government. @AarefaJohari @scroll_in
(3/n) state prosecutor says one of the resolutions directly called for "waging war against the State". Elgaar Parishad was formed through Kabir Kala Manch by the "anti-fascist" front. @AarefaJohari @scroll_in
Read 32 tweets
1 year of #Notebandi: Lasalgaon, asia's largest onion market, stopped cash payments to farmers. Traders give 20 days post dated cheques 1/n
Takes a month for the cheques to encash. Many cheques bounce. Meanwhile, Farmers take loan to make their payments till the cheque encash 2/n
"Only traders benefitted from Notebandi" farmers allege.Traders get 1-2 months to make their payments which used to b cash till Nov '16 3/n
Read 8 tweets

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