Watch How NITI Aayog Economist Bibek Debroy Shutdown Criticism Against Demonetization! Truly Amazing!

Since demonetization was implemented on 8 November 2016, there has been news on demonetization that it is the failure of the government. The opposition blamed BJP as well as RBI, to what seemed to ‘them’ as an administration failure. While some even went on to say a tactical failure. News started to circulate that how black money holders have actually ‘outsmarted’ the government.

On The Special Edition of The Buck Stops Here, Bibek Debroy, a NITI Aayog Member talks about RBI’s U-turns and why one should not take potshots on Urjit Patel, RBI Governor. He also shuts down the claim of Dr Manmohan Singh that India’s GDP being shaved off by 2 percent. Debroy said,” One shouldn’t shoot one’s mouth off prematurely”.

The NITI Aayog economist also responds to the criticism against RBI and its governor by saying, “Instead of criticising RBI, we must applaud it for its willingness to tweak.” He also termed the attack on the governor to be ‘unethical’.

Talking about the current situation and the long queues, Debroy adds, “Situation will definitely improve by 1st week of January as far as withdrawal from banks is concerned, but is unlikely to change regarding ATMs.”

However, the move has caused inconvenience for the people in the short run, but over the long term, this move would prove to be the brilliant action in curbing black money and corruption. The move would make people switch over from cash to cashless transactions.

 

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