While the government celebrated November 8 as ‘Anti-Black Money Day,’ the Opposition called for a national protest to mark it as a ‘Black Day.’ Not surprisingly, our divided polity was nowhere near a consensus on this unprecedented, if controversial, measure. But the real deduction from all the drama and trauma is that DeMo, like much else about us, was much more about politics than economics. To give its critics their due, DeMo, in retrospect, didn’t quite come off as expected. Real estate prices, artificially propped up by illegal money, came down as much as 20 per cent across the country. Huge amounts of money returned to our banks, which were already beleaguered by NPAs.

Source: dna November 11, 2017 02:03 UTC