What has happened to this fellow at this juncture, appears become mental case. Modi took bold decision, at least money has come in pipeline. Yes arrogance of FM as well as inefficiency was not tolerable. Actually there is a need to bring total demonetization by way of removing one or two decimal from currency.
There are only two souls living in india who feel demonitisation was good move,one is modiji who anyway does not understand economics beyond trading while the other being arun jaitley who can never ever undersrand economics beyond his family.
He was the Chief Economic Advisor for 4 years to the present Govt. During 2016-17 he had said that demo was 'short-term pain for long-term gain'. Now he is telling that demo was draconian.
Demonetization (Demo) had good effects like
i) entire cash was brought to white economy and it became taxable.
ii) no. of Income tax returns filed and collections have doubled
iii) it has led to faster digitization of banking.
Demo may not be successful to the level of its expectations. All steps taken need not be 100% successful.
A deft doctor tries unconventional treatment for a strange disease. It may or may not yield results up to the level expected. If so, can you blame the doctor?
If Aravind was not for demo, he could have resigned and come and spoken then itself. Why now after retirement?
Re: Arvind Subramanian on demonetization
by prem nair on Dec 01, 2018 07:23 AM
He was waiting for retirement to tell the truth. Imagine if he has told the truth earlier bakths would have lynched him and called him Pak agent. If the aim was to bring entire cash to white then why was a limit of deposit at a meager 2.5 lakh insisted upon, and why the last date was preponed causing 150 deaths and other problems?
He was the Chief Economic Advisor for 4 years to the present Govt. During 2016-17 he had said that demo was 'short-term pain for long-term gain'. Now he is telling that demo was draconian.
Demonetization (Demo) had good effects like
i) entire cash was brought to white economy and it became taxable.
ii) no. of Income tax returns filed and collections have doubled
iii) it has led to faster digitization of banking.
Demo may not be successful to the level of its expectations. All steps taken need not be 100% successful.
A deft doctor tries unconventional treatment for a strange disease. It may or may not yield results up to the level expected. If so, can you blame the doctor?
If Aravind was not for demo, he could have resigned and come and spoken then itself. Why now after retirement?
