Policy Engagements and Blogs


As the Prime Minister’s move to demonetise 500 and 1000 rupee notes to curb black money continues to play out in the country, find below a curated analysis by CPR faculty.

In You have been warned, Pratap Bhanu Mehta writes how demonetisation ‘threatens to institutionalise a new kind of politics’, based on the three central elements of ‘personification, puritanism and punitive imagination’.

Rajiv Kumar writes in The Quint on how the demonetisation of high denomination currency is a ‘game-changer and puts the Indian economy on a radically-diferent trajectory’. In yet another interview to The Hindu Business Line, Kumar explains the benefits of demonetisation for the Indian economy.

G Parthasarathy writes that the move has a positive impact on terrorism by removing counterfeit currency from the market smuggled by Pakistan to ‘its ‘terrorist assets’ in India’.

In Why demonetisation notification is illegal and violates the Constitution, Namita Wahi questions and analyses the legality of the move, and explores it in greater depth in another piece in Live Law. She further breaks it down in the eighth episode of CPR’s podcast ThoughtSpace here.

In Will Modi do a Morarji or a Pandit-ji, Srinath Raghavan historically contextualises demonetisation, while in another article in Livemint, he argues that demonetisation is an ‘unarguably regressive move’ when judged by the standard of whether it advances human freedom or not.

In For informal workers, notebandi equals paisabandi, Mukta Naik, Eesha Kunduri and Manish share findings from a two-week long intensive survey they conducted on how workers in the informal sector were coping with the impact of demonetisation. A more detailed analysis of their findings can be accessed in the seventh episode of CPR’s podcast ThoughtSpace here.

In an earlier episode of the podcast Curbing black money or welfare shock?, Rajiv Kumar analyses the economic fallouts of demonetisation.

In an article in Civil Society, Sanjaya Baru explains how demonetisation is primarily a political move, and that ‘in the end, the politics of demonetisation will trump its economics’.