GST good economics; demonetisation is not: Basu
GST
Dated:- 12-11-2016
Former World Bank Chief Economist Kaushik Basu said the Modi government's decision to demonetise high denomination currency notes is not 'good economics' and the collateral damage of demonetisation is likely to far outstrip the benefits.
"GST was good economics; the demonetization is not. Its economics is complex and the collateral damage is likely to far outstrip the benefits," Basu, who was also Chief Economic Advisor in the Ministry of Finance, said in a tweet.
Basu is currently professor of Economics and C Marks Professor at Cornell University.
Basu on November 8 had said that with demonetisation, it is very likely that there wi
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