It’s Official: Demonetisation May Have Hurt More Than it Helped

It will take time for the economists to figure out whether the fall in the growth rate to 5.7 percent is the result of the disruption caused by demonetisation and the Goods and Services Tax (GST), but most of the common people will see a connection between the two steps and a slowing down of the economy.

For most of them, the GST seems right – like the uniform civil code in another field of national life, notwithstanding the teething troubles – but the jury is out on whether demonetisation was necessary, if only because 99 percent of the banned currency has been returned to the government.

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