INDIA
ONE YEAR OF DEMONETISATION: JURY IS OUT
A FARCE THAT BROKE ECONOMY’S BACK
2017-11-16 12:06
-
A year after demonetisation, economic pundits have spoken for and against the measure. Economists toeing the line of the ruling BJP have spoken in favour of it saying the measure was needed to cleanse the economy of black money and the ensuing digitisation will help in the long run to root out corruption, a major factor in generation of black money. But economists, particularly those airing the Opposition view, say that it has only pushed down the economy and virtually crippled the informal sector that account for majority of economic activity largely dependent on cash economy.