Wednesday, April 17, 2024

Topic: Former Chief Economic Advisor Arvind Subramanian

Demonetisation was a ‘massive, draconian, monetary shock’, says former chief economic advisor

However, the former chief economic advisor, who quit his post in June, has not indicated whether he was consulted before the decision to ban notes worth Rs 500 and Rs 1,000 was taken. Prime Minister Narendra Modi announced the decision on November 8, 2016, and said it was intended to reduce corruption in the system.