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5 years of Demonetisation: Social media users trend black day of Indian Economy, know why

Demonetisation is the act of removing a currency unit’s legal tender status. It takes place whenever a national currency is changed.

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Demonetisation is the act of removing a currency unit's legal tender status. It takes place whenever a national currency is changed.

By Tarannum

It has been five years since demonetisation took place on November 8, 2016. The announcement came later in the evening that surely shocked the people of the country. In the announcement, PM Modi said that Rs 500 and Rs 1000 currency notes will no longer be used as legal tenders. However, on this day, what came to our notice was a bit peculiar. Some of the users on social media started trending the hashtag ‘black day in Indian Economy’, in which it was mentioned that demonetisation was the black day of the economy.

One of the users wrote on Twitter that Demonetisation is a case of intentional looting and legalised plunder of our country. It has ruined our country’s economy and many small business owners and poor people have suffered greatly as a result of the government’s rash action.

Another user wrote that despite demonetisation, the cash circulation increased as well as the cash with the public also increased. He further said that no major black money was recovered that led to a negative impact on GDP.

Yet another user said that it was a masterstroke in which 99.8% of the money returned to circulation and millions of people lost their jobs and businesses. Adding further to it, he said that demonetisation has caused the death of innocent lives, distress to the working class and destruction of the economy.

What is Demonetisation?

Demonetisation is the act of removing a currency unit’s legal tender status. It takes place whenever a national currency is changed. It entails removing the current form or forms of money from circulation and replacing them with new notes or coins.

Read Also: Five years of demonetisation: A quick look at how it affected the economy

What was the reason for implementing demonetisation in India?

Demonetisation was done to minimise the amount of counterfeit cash in the economy, which is used to fund criminal activity. As soon as the announcement of demonetisation came, people started rushing to exchange their Rs 500 and Rs 1000 currency notes, resulting in cash shortages around the country.

Long queues were seen outside the banks, ATMs and small firms experienced temporary cash loss. The situation was considerably worse in rural India, where residents struggled to exchange and withdraw money due to a shortage of banks and ATMs in their area.

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Passengers must pay charges for excess luggage on trains, says railway minister

Passengers travelling by train will need to pay extra charges if their luggage exceeds the prescribed free allowance, the railway minister informed Parliament.

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Ashwini Vaishnaw

Indian Railways passengers will have to pay additional charges if they carry luggage beyond the prescribed free allowance during train journeys. The clarification was given by Railway Minister Ashwini Vaishnaw in the Lok Sabha, outlining existing class-wise baggage norms and the charges applicable for excess weight.

The minister explained that Indian Railways already follows a structured luggage policy, under which passengers are allowed a fixed free allowance depending on their travel class, with a defined maximum limit that cannot be exceeded inside passenger compartments.

Class-wise luggage limits explained

According to the details shared in Parliament, passengers travelling in Second Class are permitted to carry up to 35 kg of luggage free of cost. They can carry additional luggage up to 70 kg, but only after paying the prescribed charges.

For Sleeper Class travellers, the free allowance stands at 40 kg, with the maximum permissible limit capped at 80 kg, including the free allowance. Passengers in AC 3 Tier and AC Chair Car are allowed to carry 40 kg of luggage, which is also the upper limit for these classes.

First Class and AC 2 Tier passengers can carry up to 50 kg of luggage free of cost, with a maximum limit of 100 kg. AC First Class passengers have the highest allowance, with 70 kg permitted free and up to 150 kg allowed on a chargeable basis.

The railway minister clarified that the maximum limit in each class includes the free allowance and that passengers cannot exceed this limit inside the compartments.

Charges for excess luggage and size restrictions

Vaishnaw stated that passengers carrying luggage beyond the free allowance, but within the maximum limit, are required to pay charges at 1.5 times the standard luggage rate. Such excess luggage can be carried along with the passenger inside the compartment after payment.

The Railways also impose size restrictions on personal luggage. Trunks, suitcases and boxes with outer dimensions up to 100 cm × 60 cm × 25 cm are allowed in passenger compartments. Items exceeding any one of these dimensions must be booked separately and carried in brake vans or parcel vans, not inside passenger coaches.

The minister further clarified that merchandise items are not permitted to be carried as personal luggage in passenger compartments. Any luggage beyond the prescribed limits is required to be booked and transported in the brake van of the train, subject to existing booking norms.

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Lok Sabha passes SHANTI Bill, opens civil nuclear sector to private participation

The Lok Sabha has passed the SHANTI Bill, paving the way for private participation in India’s civil nuclear sector and supporting the target of 100 GW atomic energy by 2047.

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Lok Sabha

The Lok Sabha on Wednesday passed the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill, a move that allows private players to enter India’s tightly regulated civil nuclear sector. The legislation was approved through a voice vote, even as opposition members staged a walkout during the discussion.

Union minister Jitendra Singh described the passage of the bill as a milestone, saying it would help the country move closer to its long-term clean energy goals. According to the minister, the legislation is aligned with India’s ambition to generate 100 gigawatts of atomic energy capacity by 2047.

Focus on clean energy and long-term targets

Speaking in the House, Singh said India’s growing role on the global stage requires it to follow international benchmarks, particularly in the transition towards cleaner energy sources. He noted that nuclear power would play a crucial role in meeting future energy demands while reducing dependence on conventional fuels.

The SHANTI Bill aims to bring private participation into the civil nuclear space, which has so far remained largely under government control. The government has maintained that such participation is necessary to scale up capacity and meet the 2047 nuclear energy target.

Opposition flags liability concerns

Opposition parties opposed the bill, arguing that it weakens provisions of the Civil Liability for Nuclear Damage Act, 2010. They claimed that the proposed framework shifts responsibility in the event of a nuclear incident away from suppliers of nuclear equipment, raising concerns over accountability.

Despite these objections, the bill was passed, marking a significant policy shift in India’s nuclear energy sector.

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Bharat Taxi to launch in Delhi on January 1 as cooperative alternative to app-based cabs

Bharat Taxi, a government-backed cooperative cab service, will be launched in Delhi on January 1 as an alternative to app-based taxi platforms.

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bharat taxi model

Delhi residents will soon have a new option for daily commuting as Bharat Taxi, India’s first cooperative taxi service, is set to begin operations in the national capital from January 1. The service has been launched by the Centre as an alternative to existing app-based cab platforms and is expected to operate alongside them.

According to information shared by government sources, all preparations for the launch in Delhi have been completed. The service will function through a mobile application operated by Sahakar Taxi Cooperative Limited and will follow a zero-commission model.

Multiple ride options and app-based features

Bharat Taxi will offer cars, auto-rickshaws and bikes through its platform. The app will be available on both Android and iOS devices. Users will be able to register using their mobile number, select pick-up and drop-off locations, choose a vehicle, and track their ride in real time.

The application includes features such as a transparent fare structure, real-time vehicle tracking, multilingual interface, and 24×7 customer support. Safety measures include verified driver onboarding, integration with Delhi Police and other agencies, and an option to share ride details with others.

Focus on fair pricing and ride reliability

The cooperative taxi service aims to address issues commonly faced by commuters, including surge pricing during peak hours, ride cancellations, and drivers refusing trips. Provisions have been made within the system to deal with such everyday complaints.

Officials indicated that the platform is designed to bring predictability to fares while ensuring a smoother experience for passengers.

Driver-owned model to improve earnings

A key feature of Bharat Taxi is its driver-owned cooperative structure. Under this model, drivers are expected to receive up to 80 per cent of the fare directly, supported by a monthly credit system. The initiative is intended to provide drivers with higher income and improved working conditions, reducing dependence on private cab aggregators.

Government sources said the platform offers drivers a more independent and equitable alternative for earning a livelihood.

Expansion plans beyond Delhi

As per official information, around 56,000 drivers have already registered on the Bharat Taxi app. While testing has been completed in Delhi, a similar trial is currently underway in Rajkot, Gujarat, where the service is expected to be launched on February 1.

Officials added that Bharat Taxi will be gradually expanded to more than 20 cities across the country in the coming phase.

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