Shumita Sharma Deveshwar

Director, India Research
+91 98718 22780

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Recent India research

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India: Black money crackdown to hurt near-term economic growth

Overview

In an unexpected measure, Prime Minister Narendra Modi on 8 November announced that Indian higher-denomination currency notes will no longer be legal tender and must be exchanged by year-end at banks. This throws a highly cash-dependent economy into temporary disarray even though the move has long-term benefits for modernizing India’s large informal economy....

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