By Nitin Pai and Anupam Manur
The recent withdrawal of Rs 500 and Rs 1000 denomination notes as legal tender has evoked various responses. On one hand, the government’s stance is that this will reduce a large portion of unaccounted money (also popularly known as black money), and on the other, the move has resulted in an inconvenience to the general population.
Amidst wide coverage of the reform and different opinions circulating in news circles, the Currency Reform Analysis 2016 presents an unbiased view of the facts of the reform and looks at potential ways this could play out in the near future. It presents a brief overview of some of the potential objectives which the reform could have hoped to achieve, the present conditions, and the expectations going forward.
Featured image: Danish Siddiqui/Reuters