An autonomous research institute under the Ministry of Finance


Demonetization: Revolutionary Step or Historic Blunder ?


The Modi government's hit on black money may well go down as one of India's biggest economic blunders, or his greatest achievement. How quickly things will normalize remains to be seen.  Whether one agrees with the move or not - it's implementation has surely been bungled badly and the collateral damage ...

A note on demonetization


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The assessment, in this note on demonetisation, is not in the nature of a cost-benefit analysis and does not take account of: (a) cost to the government (of implementing this exercise), (b) hardship that the citizenry may have to put-up with, (c) the private costs that people may have to ...

Impact of Demonetization: What to expect?


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The demonetisation of the 500 and 1000 rupee denomination notes has removed 86 per cent of the currency from circulation. It is argued that there are agents in the economy who are hoarding currency as a method for storing savings, especially by people earning unaccounted or illegal incomes. Demonetisation has ...

Empire and extraction


Indian history has been well documented by great writers like Dadabhai Naoroji, Romesh Chander Dutt, Jawaharlal Nehru and others.  Shashi Tharoor has turned the same material into a gripping page turner. With his characteristic wit, biting sarcasm and gifted writing, he has produced a bestseller that will re-ignite thinking and ...

Impact of Demonetization on Growth and Inflation


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With not so encouraging response from its Income Declaration Scheme, 2016, which could unearth just about 0.5% of GDP, the government came out with a surprise policy of discontinuing Rs 500 and Rs 1000 notes from circulation. As the government is determined to curb terrorism financing, counterfeiting as well ...