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> Current govt caused the recession. The damage demonetisation did (especially to the poor) is painfully obvious. No significant upside. The reduction in econom
by sbmthakur 7y ago
> Current govt caused the recession. The damage demonetisation did (especially to the poor) is painfully obvious. No significant upside. The reduction in economic activity was so pronounced that satellite images could pick up on it. Growth rate tanked. It's now lower than that of Pakistan which is ironic considering how much the current regime like to use them as a distraction.
Could you share any references for this?
- nit_ 7y agoThis planet money episode explains it pretty well. https://www.npr.org/2019/09/25/764433918/episode-770-when-indias-cash-disappeared https://www.npr.org/2019/09/25/764433918/episode-770-when-in... NBER report: https://scholar.harvard.edu/gopinath/publications/cash-and-economy-evidence-indias-demonetization https://scholar.harvard.edu/gopinath/publications/cash-and-e...
- sbmthakur 7y agoThank you for sharing.