Tuesday, October 3, 2017

Demonetization, GST and AADHAR

Demonetization, GST and AADHARIndia is undergoing through tough reality checks which could have happened earlier but didn't. You may agree, you may not but the truth is that economy is witnessing structural changes (better tectonic shift) which were due for some time. Those who have issues with GST, demonetization and AADHAR must understand that India has opted for an economic structure in 1992 which requires formalization of economy. 

The informal sector is often very helpful in early stages of economic growth but as the wagon moves forward, formalization becomes the need of hour and demonetization, GST and AADHAR are the moves in that direction. When money pouring in the economic system, regulatory authorities must have enough data to check and balance else you will have other lords controlling whole economy. And the way Indian economy was moving along with unimaginable amount counterfeit currency in the system, was undermining all the efforts put forth by respective governments.