Demonetisation damage greater than benefits: Ex-WB economist
Former World Bank Chief Economist Kaushik Basu has said PM Narendra Modi's move to demonetise ₹500 and ₹1,000 notes is "complex" and the "collateral damage from it would far outstrip the benefits". He further said that the move was not "good economics". Earlier, Basu said that with demonetisation there could be a spike in gold and silver prices in India. 