Critical View
Nobel laureate Paul Krugman, while on a visit to India, criticised the Indian government’s demonetisation move calling it ‘puzzling’. “It was shock therapy that was not well advised. It is not going to make any lasting dent in corruption and it could do a significant amount of damage to the economy,” Krugman said in an interview to The Economic Times. “Good thing,” he added that it did not cause as much damage to the economy as many feared. The American economist also criticised India for not using its manpower efficiently and stressed that the country could move towards higher growth if it uses labour more efficiently.