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The Reason Why Raghuram Was Against Modi’s Demonetization Act
September 05, 2017
Former RBI governor Raghuram Rajan was against PM Narendra Modi’s demonetization from the very beginning. He has explained himself in detail in his book “I Do What I Do” which is to be launched in a few days. However, he clearly mentioned that the reason why he didn’t support demonetization was that he knew that its short term cost will greatly outweigh the long term benefits.
Rajan said that he even pointed out multiple alternatives for eradicating the black money from the system. However, his ideas were shot down by the RBI.
