December 12, 2016

Demonetisation for Behavioural Change

Praveen Chakravarty, Senior Fellow at IDFC Institute, questions the 'shock and awe' move by the government to nudge people towards a cashless society. He writes:


"...our “results-oriented” and “action-seeking” commentariat, Indians’ love for paper currency is so much more detrimental to the future of this nation than malnutrition that it is perfectly legitimate to jeopardize people’s lives and force them out of their cash fetish. To be sure, going cashless is an entirely laudable objective. But removing 86% of a country’s currency overnight and throwing hundreds of millions of lives in disarray to seemingly change their cash usage behaviour sounds primordial and antediluvian, not befitting of a modern liberal society."


Read the full article here.

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