RBI affidavit on demonetisation obfuscates rather than clarifying
Demonetisation is an example of a needless policy which failed because of lack of consultation and inadequate understanding of the issues. It led to a policy-induced crisis that deeply impacted the nation: all because democracy was not allowed its full play.
Arun Kumar is a Retired Professor of Economics at the Jawaharlal Nehru University. He is the author of ‘Indian Economy’s Greatest Crisis: Impact of the Coronavirus and the Road Ahead’. 2020. And, Indian Economy since Independence: Persisting Colonial Disruption. 2013. He blogs at http://arunkumarjnu.blogspot.com/.