Must Read News Articles – November 10

The Hindu

Front Page / NATIONAL

More services to accept Rs. 500, Rs. 1,000 notes: Those depositing over Rs. 10 lakh of unaccounted income in their accounts would face tax and a penalty of 200 per cent under the Income Tax Act. If amount of above Rs. 10 lac is deposited in a bank account, not matching with the declared income, the same will be treated as tax evasion.

‘Demonetization to hit terror financing hard’: One of the reasons to demonetize currency notes of Rs. 500 and Rs. 1,000 was to curb the circulation of fake currency notes.

INTERNATIONAL

DONALD TRUMP WON: Trump defeated Democratic opponent Hillary Clinton by garnering about 300 votes in the electoral college.

Editorial/OPINION

A method in the shock therapy: Prime Minister Narendra Modi’s move to curb unaccounted cash, or black money, circulating in the Indian economy by withdrawing the highest-value currency notes of Rs.500 and Rs.1,000 as legal tender within three-odd hours of the announcement, is a bold one.

Straws in the wind: Paddy stubble, unlike wheat residue, isn’t valuable animal feed. Incentivising biomass-based power plants in Punjab and Haryana will help north India breathe easier.

ECONOMY

Centre on course to expedite patent filings: Hiring more people and training them to reduce the time and pendency of patents and trademark applications.

Improve ports, logistics to boost exports: WB: India must frame policies to reduce farm subsidies and cut import tariffs on cars and take steps to improve ports and logistics to emerge as an export powerhouse, according to the World Bank.

‘Big step toward cashless economy’: The demonetisation move is a big step to maintain international credibility.

Demonetisation: What you need to know: Some details and ex-plainer from the RBI.

Indian Express

Anti-corruption game-changer: The decision to demonetise Rs 1,000 and Rs 500 notes was particularly well-timed as India has become the bright spot in the global economy.

Start from the top: To set an example for the judiciary, the Supreme Court must address its own backlog of cases.

Live Mint

Demonetization is a net positive move: Scaling back large bills will not end crime, but it will force the underground economy to employ riskier methods.