Revisiting demonetisation

October 27, 2017 11:56

Very seldom does one come across economists who are willing to accept that they were not entirely right.

Writing in The Telegraph, Dipankar Dasgupta, former professor of economics, Indian Statistical Institute, Kolkata, crunches the latest data series on quarterly gross domestic product released by the ministry of statistics and programme implementation across quarter one of the financial year 2011-12 through the first quarter of FY 17-18, which records quarterly GDPs for the period at constant 2011-12 prices, to conclude at the end of it all that 'demonetisation did cause human misery in the short run, but it does not seem to portend any long-term economic damage'.

'Having criticised the policy in the past, this columnist believes at least that there is scope yet for revisiting the issue,' he concludes.

You can read his article, and the calculations based on which he has arrived at his conclusion, here.

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