Economics professor ARUN KUMAR is one of the most widely quoted authors on black money. He has authored The Black Economy in India (Penguin, 1999) and Indian Economy since Independence: Persisting Colonial Disruption (Vision Books, 2013).
In an interview to India Legal’s Editor-in-Chief, INDERJIT BADHWAR and Associate Editor MEHA MATHUR, Prof Kumar describes how this hasty drive will adversely impact demand, employment and investments. Excerpts:
When and under what circumstances is demonetization used as an economic tool and how common is this practice worldwide?