Leading up to the anniversary of Demonetisation on November 8, there have been many stories doing the rounds. These are more in the nature of a spin on the pros and cons of Demonetisation exercise.
Just about a week ago it was reported that cash in the economy is much lower than what it was in 2016.
Then a few days back we are told that the cash is almost at double the level it was in 2016. The latter report is more plausible since in multiple reports over the years since Demonetisation it was stated that the cash use in the economy had not fallen.
In India we need to understand that public acceptance of any measure is slow. This is because of our diversity both geographical and economic.
Unless an individual is able to rationalise the measure in his mind, he rarely accepts it. The political leadership if they are in a hurry like in this measure of converting people to plastic money, they will always fail or come up a cropper.
