The nation has been experiencing for the past 10 months what the RBI is stating today. The former RBI Governor Raghuram Rajan said no one can conclusively state that demonetisation was successful and expressed the points that are doing the rounds in the debates taking place throughout the country. The opinion of the former RBI Governor has more worth than anyone else’s, as it has an economic basis. Hence, comments such as ‘those who speak against demonetisation do not understand it’ etc should not be made now. The Government would have benefited if it had payed heed to the advice of the then RBI Governor. But unfortunately, today the same governor has brought out the truth and torn the government’s veil. Which greater science does the government posses to counter economics? Whose economic judgement is sound and whose is unsound was forcefully experienced by 125 crore Indians. It will take a long time for the nation to recover from this loss. The people of the country with great perseverance raised the productive quotient. But the axe of demonetisation brought it down in 10 months. The nation is bearing the brunt of this action.
Jayesh Rane
(The views expressed by the author in the article are his/her own.)
