Demonetisation policy is 'unusual': US Nobel laureate

December 02, 2016 17:12

Nobel Laureate Dr Paul Krugman today criticized the implementation of demonetisation policy by calling the policy, implemented by the Narendra Modi government, 'unusual'.

The American economist said that while the motivation behind demonetisation is understandable but the implementation of the policy is highly disruptive.

Dr Krugman claimed the China is slowing down in economy and trade and India could definitely be the next big potential. The Nobel laureate also said that India must work on reducing poverty, like the way Brazil did under the previous government using conventional fiscal means.

Over controversies on the newly implemented not-ban policy, Dr Krugman said that currency policy cannot be separated from monetary policy. He also stated that currency war is not the to be fought at this time.

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