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Consumer sentiment turned sharply negative in first week of 2017

In the first week after the 50-day 'pain' period, index fell a steep 7.3%

Topics
Demonetisation

The sharp fall in sentiment seen in the first week after the end of the 50-day ‘pain’ period is almost a public verdict on demonetisation. Except to the few who live on blind faith, it is now evident to all that the 50-day demonetisation venture was a failure. While the government refuses to provide details, it is apparent that not much black money was found through this exercise.

A lot was spent -- in terms of economic activity and political capital -- to gain very little. CMIE had estimated that the transaction cost of demonetisation would be Rs 1.28 lakh crore. Reports suggest ...

First Published: Mon, January 09 2017. 23:59 IST
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