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Demonetisation and the economy: Signs of distress everywhere

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

Ankur Bhardwaj 

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government’s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 & Rs 1,000, there were murmurs of protest. Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be ...

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Demonetisation and the economy: Signs of distress everywhere

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government’s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 & Rs 1,000, there were murmurs of protest. Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be ... image
Business Standard
177 22

Demonetisation and the economy: Signs of distress everywhere

Indian economy is showing signs of distress all around and economists are not off the mark in their assessment

When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government’s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 & Rs 1,000, there were murmurs of protest. Since then, economists like Amartya Sen, Kaushik Basu and many others have expressed criticism of this move to demonetise old currency notes and replace them with new notes in due course of time. They have talked about how this is going to hurt the economy as it sucks out liquidity. The effect on the informal (not to be ...

image
Business Standard
177 22