Friday, December 02, 2016

When a nation botches on currency reform plan ..

This info can dent badly GoI's good intent, Nov 2016 issue
By far, the most authentic and frank account of the botched currency reform plan in India from the most respectable and more than 150 year old economic publication from London. 

If PM was correctly informed by his advisors that only 2% of transactions in the country happen by non-cash means, and the unkind, cruel experience of other countries whose similar currency reform plans also got botched up, it would have saved PM and the govt its face. 

The PM would have acquired the required actions after multiple rounds of interactions with experts and later embarked on  effective and fool proof execution strategies than try something utopian overnight..

All the more reason for him to seek advice of experts than hollow, ideological  partners !

When a nation botches up, it is not just the ruling party that gets ridiculed, the nation as a whole gets scoffed and derided .. ☹


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