On 8 November, 2016 the Prime Minister announced on television that 86 per cent of the money in circulation in the Indian economy stood demonetised. There are still unanswered questions about the legality of the entire exercise and even the process followed to arrive at the decision.
Demonetisation was a courageous policy decision fraught with high risks. The purported objectives of the decision were to eliminate fake currency, weed out black money, and address tax evasion. Later, digitisation of the economy was also added to the list of objectives. How has demonetisation fared on these objectives?
One year later, it is clear that the economic upside to demonetisation—if there is one—is a long-term proposition. How the government is going to ensure long-term gains is still unclear.
Exactly a year ago, Prime Minister Narendra Modi announced an ambitious but enormously disruptive decision to invalidate Rs 1000 and Rs 500 notes, ostensibly...
Demonetisation was the first major formal recognition by the Government of India that the issue of black money needs to be tackled decisively. What has India gained and lost from demonetization and what are the lessons learnt?
After the drama, we are now looking back not-so-fondly at demonetisation. We still have no answer to why there is a Rs 2,000 note and no Rs 1,000 note.
At the peak of demonetisation and the push for a digital economy, Modi had praised the Digital Dabbawalas initiative for embracing the latest technology.
On the first episode of Two Much With Kajol and Twinkle, Aamir Khan and Salman Khan were confronted with another hypocrisy: age gaps. And they didn't come out looking good.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
While the IAF remains committed to the Tejas programme and has placed orders for 180 Tejas Mk1A, the force is eagerly waiting for the Tejas Mk 2 version.
What Munir has achieved with Trump is a return to normal, ironing out the post-Abbottabad crease. The White House picture gives us insight into how Pakistan survives, occasionally thrives and thinks.
Modi has certain qualities like ability,courage,resolve…etc. which prompted him to start swatch abhiyan etc which no other PM had started before.However his limitations include lack of adequate knowledge in statecraft which when gets added to his autocratic methods and inherent prejudices,fads… due to his background and upbringing becomes dangerous like quackery for the state.
The gap in intent and achievement is defined by the manner in which the leader builds his/her team and leads it. Modi government never made an attempt to build a solid, competent team. As for leading, it is becoming increasingly evident that narcissism rather than vision guides governance. That said, all is not lost, but then the leader should have the time and temperament to listen.
2019 is one year closer than when this prescient column was written. What goes into the Report Card presented to the electorate are results, outcomes, achievements. In cold print, demonetisation will not be easy to explain or extol. Coupled with the impact of a flawed GST, the economy will show up as an area of weakness. Whatever good, sensible work can still be done in the short time that remains should be attempted. Getting Air India out by March 2018, although I think that is not possible, should be done. The virtual world of social media will bring no strength.
There is a careful line that distinguishes between recklessness and audacity just as there is a distinction between policy analysis and policy dysfunction.
As to “war gaming” – Governance is not war and Governance is not a game. The idea that there hasn’t been adequate analytical understanding in Government policies is a product of the opacity of this Govt’s function. The lack of transparency in decision making and govt analysis (which we come to know despite the Govt) tilts the balance to give the benefit of the doubt to the opposition’s narrative.
Modi has certain qualities like ability,courage,resolve…etc. which prompted him to start swatch abhiyan etc which no other PM had started before.However his limitations include lack of adequate knowledge in statecraft which when gets added to his autocratic methods and inherent prejudices,fads… due to his background and upbringing becomes dangerous like quackery for the state.
The gap in intent and achievement is defined by the manner in which the leader builds his/her team and leads it. Modi government never made an attempt to build a solid, competent team. As for leading, it is becoming increasingly evident that narcissism rather than vision guides governance. That said, all is not lost, but then the leader should have the time and temperament to listen.
2019 is one year closer than when this prescient column was written. What goes into the Report Card presented to the electorate are results, outcomes, achievements. In cold print, demonetisation will not be easy to explain or extol. Coupled with the impact of a flawed GST, the economy will show up as an area of weakness. Whatever good, sensible work can still be done in the short time that remains should be attempted. Getting Air India out by March 2018, although I think that is not possible, should be done. The virtual world of social media will bring no strength.
There is a careful line that distinguishes between recklessness and audacity just as there is a distinction between policy analysis and policy dysfunction.
As to “war gaming” – Governance is not war and Governance is not a game. The idea that there hasn’t been adequate analytical understanding in Government policies is a product of the opacity of this Govt’s function. The lack of transparency in decision making and govt analysis (which we come to know despite the Govt) tilts the balance to give the benefit of the doubt to the opposition’s narrative.