One year of demonetisation: We are playing for the future not the past

Demonetisation and GST did have an impact, to an extent. However, economists and markets had already expected a slowdown

The government’s move to demonetise high-value currency, announced on November 8, 2016, was meant to root out unaccounted wealth, stem terror financing and curb counterfeiting. It has been argued that the move did more harm to the economy than good. But was the note ban move solely responsible for the economic slowdown seen in the subsequent months? A year after demonetisation, Rahul Jain finds out the demonetisation effects in this piece for Business Standard.

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The year 2016-17 will be remembered in India’s history for major structural reforms. In November 2016, the Government decided to ban high-value currency notes of Rs