Where is the promised windfall from demonetisation?

The Economic Survey 2016/17 was striking not only for its literary references, but also for its circumspect nature. One of major the drivers of this circumspection (which is not a trait one associates with the Narendra Modi government) was the yet-to-be-ascertained impact of demonetisation. The Economic Survey was cautious in saying that it would take …

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