ISBN: 9781138080713


Paperback | 110pp

About the Book

In a surprise move, on November 8, 2016, the Indian government announced that the currency notes of Rs 500 and Rs 1000 denomination cease to be legal tender from the midnight of that very date. The arguments advanced in support of the move was that this would root out black money and take care of counterfeiting of currencies; however, withdrawing more than 85 per cent of the currency notes in circulation has been a major hit on India’s poor and lower middle classes.

This important book provides a quick and concise explanation of the goals, implications, initial effects and the political economy of this major demonetisation move by the Government of India. It clarifies key concepts and offers astute economic analysis to guide the reader through the various claims, arguments and critiques that have been made; highlights the complexities of the processes that have been unleashed; and examines the likely outcomes in the long term as well as those that are immediately evident.

Timely and lucid, this book will interest students and researchers in the fields of economics, finance, management, law, politics and governance as well as policy makers, legislators, civil society activists and the media.

About the Authors

Jayati Ghosh is Professor at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India.

C.P. Chandrasekhar is Dean, School of Social Sciences, and Professor at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India.

Prabhat Patnaik is Emeritus Professor at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India.