New 2000 Rupee Note Necessary

Advocating the move, Home Ministry officials said most of the developed countries change security features of their currency notes every 3-4 years and therefore, it is absolutely necessary for India to follow this policy.

For those who say that the new Rs 2,000 note will fail at making it harder to hoard black or undeclared money, economist Bibek Debroy has a short answer: "Don't assume the government is stupid." He also has another health warning: "Do not assume that Indians are stupid. They will figure out ways of circumventing it (the new rules on notes), and wha...

Advocating the move, Home Ministry officials said most of the developed countries change security features of their currency notes every 3-4 years and therefore, it is absolutely necessary for India to follow this policy.

For those who say that the new Rs 2,000 note will fail at making it harder to hoard black or undeclared money, economist Bibek Debroy has a short answer: "Don't assume the government is stupid." He also has another health warning: "Do not assume that Indians are stupid. They will figure out ways of circumventing it (the new rules on notes), and wha...