Demonetization is hurried decision : Amartya Sen

Demonetization of 500 & 1000 rupee currency notes is still rocking the nation. Even though Modi’s deadline of 50 days ended, there is no big relief on the currency change troubles. Initially the demonetization decision is touted to be government’s war on .’Black Money’. But it slowly took the shape of ‘Cashless Economy’. Nobel laureate Amartya Sen has already responded on this issue when Narendra Modi government announced the decision. He was skeptical about the positive results of the Demonetization move. He has again responded on the same issue expressing his displeasure.

It is known that Amartya Sen received Nobel prize in the field of Economy, so his opinion can not be ignored as any other criticism on Modi. He said that Government has not thoroughly researched the repercussions of the decision. Demonetization has been taken in a hurried manner. That is the main reason, Indian citizens are facing troubles.On the other hand he brought out an interesting aspect of the discussions on this move. If anyone talks against this move, they will be posed a question “Are you supporting black money or opposing it ?”. So the discussion is leading to meaningless discussion.

Talking about cashless economy he told that economically developed nations are not ‘completely cashless’. He concluded that when it comes to implementing cashless economy in India, we can not say now that how far this will be successful”. Meanwhile Amartya Sen’s comments gained significance in the social media.