Cost of failure:
India’s ICDS program is the largest in the world and which keeps India just above sub-Saharan Africa in the infant mortality and life expectancy at age 5 index. The shortage of cash has hit this program
Layoffs and unemployment: Demonetisation: 35 per cent job losses, 50 per cent revenue dip, says study by largest organisation of manufacturers, The study, conducted by AIMO, has also projected a drop in employment of 60 per cent and loss in revenue of 55 per cent before March 2017.Bank credit growth slowest in decades; Demonetisation effect, say economists. Growth of bank credit fell to a multi-decade low of 5.1% for the fortnight ended Dec 23.SBI chief economist SoumyaKanti Ghosh said credit growth was the lowest in over 60 yrs.
About 33 per cent of all employed persons are casual labourers (estimated at 15 crore). Suddenly, they found themselves without work because those who employed them could not find the money to pay wages.IDFC Bank to merge lending divisions, trim workforce.HDFC Bank lets go of 4,500 employees in Q3, may go slow on hiring. As tourists stay away from India, 50 mn livelihoods at risk. Cracker city Sivakasi shorn of its sparkle . Flower farmers’ income falls by 70%.Demonetization effect: Labourers skipping meals to survive. The long-term benefits of the move are yet to unfold, but thousands of unorganized workers, especially women, have become ‘cashless’. Out of cash, a dying textile town goes silent .Indian textile industry is challenged by falling exports, low productivity and rising prices.
the cost demonetisation will not end soon for all, especially for the common man, the unorganised or informal workers, the small businessmen, the retail traders, and the small and micro industrialists.
Why unemployment could be the cost of war against corruption?.Even if the first-order pain of demonetisation—the absolute lack of cash—is easing, the second- and third-order pains born of supply-chain problems, production cutbacks and so on are still to be felt. Demonetisation takes toll on investment, manufacturing.