Demonetisation: Cost Vs Benefit

by Prasad Krishna last modified Jan 17, 2017 04:04 PM
Sunil Abraham took part in a discussion on Demonetisation in NDTV's Big Fight programme aired on December 24, 2016.

Prime Minister's big post-demonetisation deadline of 50 days is coming to a close. Does this mean that people's ordeal with the currency ban will also come to an end? Will the government continue to have people's support and patience through its big bang reforms if they fail to achieve their original aim of retrieving black money? We ask, what lies ahead for India? How long will it take for India to become a cashless economy? What are the pitfalls? With a high bank dormancy rate of 43%, most Indians still prefer to make transactions through cash. Even if we are able to make that journey to becoming a cashless economy by 2020, does the government have the infrastructure to make online payments safe?

Sunil Abraham said that the trouble with the design of the Aadhaar project is that it makes citizens transparent to the state and does not make state transparent to the citizen. With every generation of corruption busting technology we see new ways of corruption being introduced into our society. For more watch the video

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