What matters now is the meta narrative about how India debates, makes and implements policies. If too many people in politics feel that this kind of decision won the Uttar Pradesh election, then we may have more of such actions
Using tax collection numbers as signifiers of robust economic activity may be highly optimistic.
The original assumptions underlying the decision remain unclear, but it seems to be causing considerable harm. Although popular right now, demonetisation may not end up being a good bargain.