<b>A K Bhattacharya:</b> The new order

Demonetisation is a strong govt action, whose disruptive impact on economy can hardly be disputed

Amid the hurly-burly of the current debate over how demonetisation has affected economic growth, it is not often recognised that at least for some months now India has been experiencing economic policy changes of a different kind. These are not as tectonic in effect as those that were introduced in the wake of the twin-crisis of 1991 that arose out of fiscal indiscipline and unsustainable balance of payments. But there should be little doubt that the impact of these changes will be significant and felt in the coming months on economic governance both at the Centre and states.

If 1991 saw