Business Standard

World turns attention to how note ban affected Indian economy, politics

Economists all over the world have dug through the rich trove of data, and here's what they found about the monetary shock that still lingers over India


Jeanette Rodrigues | Bloomberg
Prime Minister Narendra Modi’s administration hasn’t assessed the impact of one of history’s most sweeping changes in currency policy.

“No Madam,” was the Indian junior finance minister’s reply to a lawmaker’s question in parliament Dec. 14 on whether the government had studied the aftereffects of the move in November 2016 to invalidate almost all of the country’s currency overnight. One of chief aims of the exercise was to curb corruption in Asia’s third-largest economy.

The decision to look away from demonetization may be an attempt to distance authorities from what’s since been termed ‘a total failure’ and a ‘draconian’ act. However, economists

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Dec 24 2018 | 6:55 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to