In a series of interviews and talks, Thought Leader and Political Commentator Swaminathan Gurumurthy explained the reason behind the demonetization move by the government. Economics can be a difficult topic and these series of talks de-mystify it. I suggest you start with his talk at Vivekananda International Foundation and then watch the videos below.
In his interview with India Today, Gurumurthy describes how the triangle of Gold, Stocks and Real Estate went up during the decade 2004-2014, creating an impression of growth but did not result in addition of new jobs. This interview also caused a controversy whereby India Today claimed that the newly introduced Rs.2000 will be phased out in a few years. So what did Gurumurthy say? Was it his personal opinion or was it the stand of the Government?
If you have the inclination and the time, an even more comprehensive talk by Gurumurthy at Sastra University is worth watching. The whole premise of these talks is a look at Indian economy in the past 17 years and how the period 2004-14 was a decade when growth occurred without creating new jobs.
1. Text in Blue points to additional data on the topic.
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