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.
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