It's too late for Narendra Modi to backtrack now on demonetisation. But it's crucial that the government not compound its mistakes going forward
India again posted world-beating growth numbers last week: Gross domestic product grew 7.3% in the quarter between July and September. But the question remains, so what? After all, none of this data covers the period after 8 November, the date Prime Minister Narendra Modi abruptly declared 86% of India’s currency would be withdrawn from circulation.