Samriddhi Foundation will be conducting Liberty Discussion Series on December 27, 2016 at Gaia Restaurant and Coffee Shop, Thamel at 5:30 – 7:00 pm. The discussion is on ‘India’s Demonetization Disaster‘ by Shashi Tharoor.
India’s previously booming economy has now ground to a halt. All indicators – sales, traders’ incomes, production, and employment – are down. Former Prime Minister Manmohan Singh estimates that India’s GDP will shrink by 1-2% in the current fiscal year.
But, as is so often the case, the impact is not being felt equally by all. India’s wealthy, who are less reliant on cash and are more likely to hold credit cards, are relatively unaffected. The poor and the lower middle classes, however, rely on cash for their daily activities, and thus are the main victims of this supposedly “pro-poor” policy.
Small producers, lacking capital to stay afloat, are already shutting down. India’s huge number of daily wage workers can’t find employers with the cash to pay them. Local industries have suspended work for lack of money. The informal financial sector – which conducts 40% of India’s total lending, largely in rural areas – has all but collapsed.
As always, how we roll during the discussion is the same. It is a pre-requisite to read the articles to sit in the discussion. We will begin by hearing from everyone what is his/her favorite line/idea in the whole article. So please highlight your favorite lines as you go through the article.Then we will move on to talk about things you did not like/do not agree with and raise the points you would like to discuss.
As there is a larger pool of invitation going out, the maximum we can accommodate is 12 people. So a confirmation email from your side would help us with the arrangements. If your time allows and you are willing to come to the discussion, please simply write a one-liner and send it to firstname.lastname@example.org or at 9843638830.
We look forward to a lively discussion as always.