Too early to call demonetisation a failure, say experts on RBI report

With almost all denotified notes returned to RBI, can we call demonetisation a success?

With almost all denotified notes returned to RBI, can we call government's demonetisation scheme a success? Most of the experts lauded government's landmark policy as soon as the RBI revealed that 15.28 lakh crore, or 99 per cent of the Rs 15.44-lakh-crore scrapped currency notes, had come back to the central bank.

Siddhartha Sanyal, chief India economist at Barclays, said, "Of course, immediate gains look miniscule and the disruption in terms of GDP is significant, but thankfully there has been a normalisation. We have seen improvement in tax compliance, both in direct and indirect taxes. It is wrong to nitpick