The survey admits that demonetisaton would shave off the economic growth for the current fiscal by 0.25 - 0.50 per cent, though it would have long term benefits.
This year's survey comes in the wake of a set of tumultuous international developments -- Brexit, political changes in advanced economies and two radical domestic policy actions - the GST and demonetisation, Subramanian said in the preface to the document.
"To deify or demonise demonetisation that is the difficult question the world is asking, to which the Survey tries to respond. The Survey affords an opportunity to work through the complexities of the analytics, empirics, and potential impacts of demonetisation," Subramanian said.
The Survey, in a full chapter on 'Demonetisation: To Deify or Demonize', tries to give an impartial view on the impact of note ban.
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"We strive to do better this year, risking that the Survey might be consigned to the ranks of popular fiction," he said.
He further said this year, there was "no fear" of the survey being judged by its cover, "which breaks ground with its creative design".
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