Raj Center In the News: The Demonetization Debate

Tue, 2017-01-24

In two columns, one in the Times of India, and the other in MINT, Raj Center Director Professor Bhagwati and Deputy Director, Professor Pravin Krishna, along with their co-authors, Professors Suresh Sundaresan and Vivek Dehejia, discuss the costs and benefits of the recent “demonetization” reform undertaken by the Indian Government.

In their Times of India article (link here), co-authored with Professor Suresh Sundaresan, they argue that the reform was a “bold and courageous move” with significant potential for long term benefit. In their MINT article (link here) co-authored with Professor Vivek Dehejia, they argue that analysts need to carefully dissect the many fallacies regarding demonetization that abound in the public discourse and pay attention to the distinction between the effects of demonetization on the stocks and flows of black money in evaluating this policy.

Professor Jagdish Bhagwati was interviewed by Barkha Dutt for NDTV (link here) and by Rajdeep Sardesai on India Today TV (link here) for his views on the demonetization debate.  Along with Professor Padma Desai, he also met with PM Modi to discuss Indian policy matters.


Professor Krishna was invited for a special meeting of “outside” experts with PM Modi, Cabinet Minister Arvind Panagariya and senior members of the Indian bureaucracy (link here) and (link here) to discuss Indian policy priorities in advance of the budget.

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