Demonetisation has hit employment hard4 min read . Updated: 16 Nov 2017, 04:46 AM IST
The recent decline in the labour force participation rate should be a matter of deep concern for the Indian economy
It has been a year since Prime Minister Narendra Modi surprised the country with the demonetisation announcement. Numerous commentators had criticized the move at the time for a variety of reasons, the most prominent among these being: (a) demonetisation was the wrong instrument for the intended objective of eliminating black money from the Indian economy; (b) the economy would suffer a severe adverse shock as a result of the draining of 86% of the currency from the system.
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