Demonetisation Decoded

A Critique of India's Currency Experiment

By: Jayati Ghosh, C. P. Chandrasekhar, Prabhat Patnaik

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Hardcover | 14 March 2017 | Edition Number 1

At a Glance

Hardcover
112 Pages

Dimensions(cm)
21.59 x 13.97 x 0.79

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On the night of 8 November 2016, at 8:15 pm, India's Prime Minister, Narendra Modi, announced in a televised broadcast to the nation that with effect from midnight, currency notes of denominations INR 500 and INR 1000 would no longer be legal tender. In one stroke this involved the de-recognition of over 86 per cent of the value of Indian currency in circulation with only four hours' notice.

This important book provides a quick and concise explanation of the goals, implications, initial effects and the political economy of this major demonetisation move by the Government of India. It clarifies key concepts and offers astute economic analysis to guide the reader through the various claims, arguments and critiques that have been made, highlights the complexities of the processes that have been unleashed, and examines the likely outcomes in the long-term as well as those that are immediately evident.

Timely and lucid, this book will interest students and researchers in the fields of economics, finance, management, law, politics and governance, besides appealing to the interested general reader, policymakers, legislators, civil society activists, and media.

Industry Reviews

"It is noteworthy for lucidly cutting through the ballyhoo around demonetisation, its intended and actual impact, and flagging the larger risks that this reform experiment-'where many who have suffered damage still see their experience as necessary pain to be endured for long term gains to the nation'-throws up for India's democracy."

Vikas Dhoot, The Hindu

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