Economy

Watch: ‘Demonetisation Has Been Very Bad for the Indian Economy’

Economist Arun Kumar explains how demonetisation failed to tackle black money, but had a severely negative effect on the unorganised sector and the white (formal) economy.

  • ashok759

    The total currency – large notes – in circulation was $ 240 billion. Assuming all of it was black, each Indian was required to exchange two one hundred dollar bills to convert it. Unsurprising that 99% of it is back. If three trillion – a little less than $ 50 billion – had got extinguished, as originally hoped for, that would have given the government $ 40 apiece to distribute. Was it worth the effort …