Arun Kumar

Arun Kumar

Arun Kumar, Malcolm S Adiseshiah Chair Professor, Institute of Social Sciences, New Delhi and author of ‘Indian Economy’s Greatest Crisis: Impact of the Coronavirus and the Road Ahead‘.
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The Withdrawal of Rupees 2000 Notes: A New Mini-Demonetisation in India Soon

In a sudden though not unexpected move, currency notes of the denomination Rs 2,000 are being withdrawn from circulation. This is announced via a notification released by the Reserve Bank of India and not the government (as at the time of demonetisation). These notes are not being withdrawn from circulation, but actually, they will stop circulating right away given that they will have to be deposited in a bank or exchanged for lower denomination notes.

Doubling of Income, Really?

INDIA’S per capita income, representing the average income of an Indian citizen, has risen from INR 79,000 in 2013–14 to INR 1,71,000 in 2022–23 — an increase of 116 percent. Therefore, some claim that incomes have more than doubled in India since the present ruling dispensation took office. The catch is that: a) this includes the price increase during the period and hence does not represent the real increase in incomes, and b) the data for 2022–23 and two earlier years is provisional and subject to revision.

Electoral Bonds No Solution

How do donations via electoral bonds funded by legal or illegal money help curb undue influence on policymakers? Electoral bonds provide an additional of such funds.

The Union Government initiated the Electoral Bonds scheme, announced in the Union Budget 2017–18, on January 2, 2018. The aim was “to cleanse the system of political funding in the country”. While many other issues are also germane, the moot question is will this goal be achieved.

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