HYDERABAD: The book on ‘Demontisation and Black Money’ is aimed at giving a comprehensive understanding about the reasons leading to demonetisation, its impact on economy and people and leaving judgement to readers themselves to decide whether demonetisation was good or bad, said author C Rammanohar Reddy.
“The book has been written for general public and not for economists and intellectuals. I have my opinion on demonetisation, but I did not try to push it through the book.
My intention was to inform all of its aspects related to people and leave judgment to them as informed decision making is essential for survival of democracy,” said Rammanohar Reddy, an economist and journalist, speaking at a discussion held on book by Manthan forum.
The 244-page book published by Orient BlackSwan publishers focuses on aspects like, whether demonetisation was effective in curbing black money, wasn’t there a less disruptive measure than demonetisation to achieve to curb black money, were the objectives of demonetisation fulfilled and what will unfold in the future.
“Personally, I don’t see demonetisation as a right move. To curb black money, a larger change is needed in government policies, people’s habits and societal norms.
Even the argument citing demonetisation was implemented to promote digital transactions and make economy go cashless does not stand, as already the trend of digital transactions has increased over the past few years and in the last year digital payments were more than cheque payments. But instead of just supporting and opposing demonetisation it has to be studied comprehensively,” said Rammanohar Reddy.