If the argument is that demonetisation stemmed the loss of support to the Modi government, we have yet to see any empirical validation of it.2L crore, one would expect proper arrangements would have been made to replace what was now excluded. He went public and acknowledged responsibility. It just proves that new money too turns as easily into black money as the old money and nothing has changed.Out of the Rs 14. Clearly, the government was unprepared. Even if not educated in the conventional sense, seeking many options from a deep examination of the issue by the knowledgeable is a quality essential for successful leadership. The resultant cashlessness has غير مجاز مي باشدt the national economy hugely, and devastated the livelihoods of tens of millions. So what was the hullabaloo about?That demonetisation exacted a huge economic is without doubt. Rammanohar Reddy, a former editor of the respected Economics and Political Weekly, popularly referred to as EPW, wrote his book Demonetisation and Black Money before the UP elections. But greatness lies in admitting mistakes and learning from them. Even the citations are mostly from official documentation.

Its utility and relevance will be undiminished even after the after effects of demonetisation recede from our memories.It is an irrefutably factual and cold analysis of what led to the Modi demonetisation and its economic consequences.In 1961 the newly elected US President, the brilliantly educated John F.JFK had assembled the brightest men in America to be part of his cabinet, advisors and aides.8L crores have come back into the system. But, Reddy gets back his cold tenor when he sums up: “The story of demonetisation and its a ftermath, in the first two months after the event has been one of unremitting pain and hardship inflicted on the people who could not escape its impact. The UP election was not fought over demonetisation. Kennedy, agreed to the disastrous invasion of Cuba at the Bay of Pigs Crisis.7 per cent in 2017. That they may have borne it stoically does not mean that their suffering was any less. Rammanohar Reddy Orient BlackSwan, Rs 295; 272 pagesHistory is replete with instances when acting out of pique or haste inflicts hugets on a nation. Yet, they led him into a disaster. Even the most ardent Modi admirers admit to that.It is to the writer’s credit that he does not let any biases creep in — the EPW after all does have a certain editorial political slant — and keeps the focus tightly on the subject.The writer, a policy analyst studying economic and security issues, held senior positions in government and industry.It has everything one could or should want to know about demonetisation in general and the impact of how it was implemented by the Modi government.

The PM made out that demonetisation was going to mean the extinguishing of “black money” and all that wouldn’t be returned to banks would be its bonus.I have described it elsewhere as a singular act of vandalism. This entails wisdom.” (P.” Closer home, the great Ladakh king, Senge Namgyal (1620-70), imposed a punitive tax on the pashm wool trade between Tibet and Kashmir, which largely went by the shortest route through Ladakh, in response to a slight by the ruler of Kashmir. The apprehension of hundreds of crores in new pink Rs 2,000s from all across the country by the police as well as the I-T authorities within weeks of outlawing the Rs 1,000 and Rs 500 notes is enough proof of that.The apparent unpreparedness and haste in rolling out the GST is indicative of this. What does this indicate? One cannot claim any accretion of support due to demonetisation. Neither was borne out.When you abruptly withdraw high denomination currency notes equal to 86 per cent of the value or Rs 14. There is not even the slightest sign that Narendra Modi has realised the massive screw-up his demonetisation policy has turned out to be. It’s a book every student and practitioner of economics and public policy must read.. This may or may not be so. Ladakh never recovered from the loss of revenue. The pashm then began flowing to Ludhiana and helped it to become the great centre for the manufacture of woolens it still is. But, instead of wisdom, there is much vaingloriousness in the PM’s style of decision-making that crimps discussion and examination of alternatives.

He marches merrily on. The Act had the side-effect of prohibiting nearly all US exports and most imports, greatly disrupting the US economy.C. But, most commentators and opinion makers have read in the results of the UP elections that there is popular support for demonetisation. The book is extremely clinical in its diagnosis and conclusions.124)This as much a book about an event as it is about economic and monetary policy and the institutional framework they operate in. Its vote share declined somewhat to 39. Kennedy realised he was taken in and was the one responsible. It was over the usual reasons — caste equations and local politics being the main focus.2L crores in high denomination notes Rs 13. This means this much good, bad and fake money was successfully exchanged.The decision by the government to strip 86 per cent of the currency in circulation of its status as legal tender, followed by restrictions on withdrawals from banks and then the general shortage of cash, deeply hurt people at different levels and Custom din7985 Manufacturers in different dimensions.

It had very few Rs 2,000 or Rs 500 notes rolling out of its security presses, and no additional small value notes to pick up the slack somewhat. In 2014, the BJP had a 42 per cent vote share.Demonetisation and Black Money By C. There is not even the slightest sign of remorse or that he has learned anything. The Embargo Act of 1807 was passed by the United States Congress in protest against British and French interference in US shipping.It is a carefully researched and scholarly work that also has a guide like quality as it simplifies a very widely and frequently discussed subject — the issue of black money. He once said at dinner with them that not since Thomas Jefferson dined alone had the White House seen so much brilliance, intelligence and wit. He exclaimed in public: “How could I have been so stupid?” Leaders are not immune to stupidity or else they would not be human. The only time when some emotion creeps in is in chapter nine on Distress and Despair where Reddy juxtaposes anecdotal newspaper reports on individual and collective distress. He also specialises in the Chinese economy.

The protests were sparked by opposition to a plan to allow extraditions to the mainland, but have since morphed into a wider call for democratic rights in the semi-autonomous city. Battles between police firing tear gas and rubber bullets -- and hardcore protesters using rocks, Molotov cocktails and slingshots -- have since become routine in a city once renowned for its stability. Billed as a "rational, non-violent" protest, it is being organised by the Civil Human Rights Front, a group that eschews confrontations with police and was the driving force behind record-breaking rallies in June and July that saw hundreds of thousands of people hit the streets.A day later the "Big Four" accountancy firms scrambled to distance themselves from a advert placed in a newspaper purportedly by employees saying they supported the protests. Beijing has turned the screws on Hong Kongs Custom wood screw businesses, pressuring them to toe the line and condemn the protesters.Under a deal signed with Britain, authoritarian China agreed to allow Hong Kong to keep its unique freedoms when it was handed back in 1997.

On Tuesday, protesters blocked passengers from boarding flights at the city's airport and later assaulted two men they accused of being Chinese spies.During smaller protest marches on Saturday -- which ended without the kind of largescale clashes that have become so commonplace each weekend -- many protesters chanted "See you in Victoria Park!" as they left the streets.Hong Kong democracy activists are hoping to get out a huge crowd later Sunday in a bid to show the city's leaders that their protest movement remains defiant despite increasingly stark warnings from Beijing.China's propaganda apparatus seized on the violence, with state media churning out a deluge of damning articles, pictures and videos.In the last two months millions of people have hit the streets while clashes have broken out between police and small groups of hardcore protesters.Clashes have broken out between police and hardcore protesters but the movement has won few concessions from Beijing or the city's unelected leadership.But protesters remain unbowed, despite the arrests of more than 700 people and 11 consecutive weekends of rallies that have won few concessions.

Defiant Hong Kong protesters vow huge rally despite Beijing threats.On Tuesday, protesters blocked passengers from boarding flights at city's airport and assaulted 2 men they accused of being Chinese spies.On Friday, Cathay Pacific announced the shock resignation of CEO Rupert Hogg after the carrier was excoriated by Beijing because some staff supported the pro-democracy protests.In the aftermath of Tuesday's airport chaos, some protester groups apologised and vowed to hold a huge rally on Sunday. Previous bans in recent weeks have simply been ignored by protesters and have soon led to clashes with riot police. But many Hong Kongers feel those freedoms are being eroded, especially since China's hardline president Xi Jinping came to power. State media also ran images of military personnel and armoured personnel carriers across the border in Shenzhen, prompting the United States to warn Beijing against sending in troops, which analysts say would be a reputational and economic disaster for China.

Hong Kong democracy activists are hoping to get out a huge crowd later Sunday in a bid to show the city's leaders that their protest movement remains defiant despite increasingly stark warnings from Beijing.The images damaged a campaign that until then had largely only targeted the police or government institutions, and prompted some soul-searching among protesters.Beyond suspending the extradition bill, Beijing and city leader Carrie Lam have shown no desire to meet key demands such as an inquiry into police violence, the complete withdrawal of the bill and an amnesty.Ten weeks of demonstrations have plunged the international finance hub into crisis and communist-ruled mainland China has taken an increasingly hardline tone, including labelling the more violent protester actions "terrorist-like". Police have given permission for the rally to go ahead but banned a proposed march.The park has long been used as the staging point for the city's years of democracy protests and will host Sunday's demonstration.