If this sounds bizarre, then so is the narrative that India’s sudden demonetisation of high-value currency was a political success. This notion that demonetisation is an economic failure but a political success is a deeply flawed one. The popular wisdom is that because Bharatiya Janata Party (BJP) won several state elections immediately after demonetisation, it is a political success. If fewer voters chose the BJP after demonetisation than before, how can it be deemed as a political success? The argument that demonetisation is a political success for the BJP is not very different from the argument that Dhoni’s sudden retirement was a cricketing success.

Source: Hindustan Times November 29, 2017 07:59 UTC