South Asia Research Group (SARG)
cordially invites you to the first seminar in the
Inter-disciplinary Student Seminar Series (2017)
Decoding Demonetization in India: A Policy Masterstroke or an Expensive Faux Pas
By Mr. Varun Agarwal, MA Economics (II yr.), CEU
Thursday, February 02, 2017, 5:30p.m. -7:00 p.m.
Nador utca 15, Room 101(Quantum Room)
On November 8th, 2016, Indian prime minister Narendra Modi, in a special broadcast, announced that from the midnight of November 8 , currency notes of denominations of ₹500 and ₹1000 would cease to be a legal tender. This decision of Demonetization announced, with the blink of an eye, rendered the value of around 87% of total currency in circulation to zero which is about 12% of Indian GDP, one of highest cash to GDP ratios in the world. No other policy move since India’s economic liberalization policy of 1991 has impacted the lives of this billion people nation .
Was it a meticulous planned policy move or just another populist gimmick? Let's find out.
Varun Agrawal is a II- year MA student in the Economics Department. He has worked with nationalized banks in India. His research interests primarily lies in the domain of monetary policy and financial economics.
All are welcome!