Demonetisation was wrong in conception and theory, says C Rammanohar Reddy
Demonetisation was not an electoral issue in 2017, and it will not be in 2019. The strange thing about demonetisation is that the ruling party does not advertise it as an achievement and during elections the opposition has not attacked the government for this disaster.
Countries have used demonetisation for a variety of reasons, but never on this scale and for this set of reasons as India did. It was wrong in conception and theory. It had no basis in any economic theory.
The government is the majority owner of banks, so if anyone should recapitalise the banks it is the government.
Published Date: Nov 8th, 2018 10:42 AM | Updated Date: Nov 09, 2018 06:09 AM IST
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