Ever since the high-denomination currency was withdrawn from circulation, there has been a spotlight on the possible impact of this move on the economic lives of the poor. Many economists have pointed out correctly that at least in the short run, disruption of the informal economy could impose costs on the poor. Those who support the move point out the long-term benefits to the poor which could result if the additional revenue that the government is likely to earn is transferred to them directly or indirectly.
India will be superpower by 2047, but not high-income economy: Martin Wolf
Read More
