And a lot of them have given a positive indication post-demonetization also.
There are better people available for that.
Like the head of India's Industry.
http://economictimes.indiatimes.com...short-term-india-inc/articleshow/55640155.cms
Sharing similar view on demonetisation, Ficci President Harshvardhan Neotia too said that it will have a short term impact on the economy.
http://www.cnbc.com/2016/11/21/indi...sts-say-as-growth-expected-to-take-a-hit.html
But analysts argue the unseen impact of the government's decision to wipe out 86 percent of the total value of currency in circulation to fight corruption and counterfeiting goes deeper and could see short-term pain for India's economic trajectory but eventual long-term gains.
I don't think people have yet understood the importance of the banks holding $200B+ in hard currency now.
The demonetization effect is temporary.
Let me explain it in a simpler way.
Paul Krugman: He says the gains are uncertain.
Fact: He doesn't know what the govt has planned after Jan. The govt knows what it's doing, but because of secrecy, no one else knows what's going to happen. The future is uncertain to the masses, not the core leadership.
Kaushik Basu: Same as Krugman.
Larry Summers: Same as Krugman.
Amartya Sen: Undermines currency, banks etc.
Fact: New bank accounts opened
http://www.dnaindia.com/money/report-with-30-lakh-new-acs-banks-get-demonetization-push-2278249
Manmohan Singh: Blah, blah, 2%, blah, blah.
Fact: Opposition idiot. He shaved off 5% in growth for more than half a decade.
This is my quote on another forum which holds true.
All such articles always talk about the negative effects of demonetization, which is all mostly true. But none of them say that this entire exercise is dependent on what the Modi govt does next, from Jan onwards.
The fact is demonetization is just step 1. We are yet to see step 2, 3, 4 etc. Don't forget that this entire move is backed by the RBI. Nobody knows India's economy better than the RBI. And nobody controls India's economy better than RBI. Not Amartya Sen, not Basu, not the foreign analysts, no one. That's why people trust in the demonetization. RBI is the controller of this move, while Modi is merely the face of it, the guy who's allowing the RBI to take back full control of the economy. The next best indication is India's industrial big wigs, they have all supported demonetization completely.
The FMCG says "no lasting impact".
http://www.livemint.com/Money/O16Oy...tion-and-FMCG-industry-no-lasting-impact.html
Real Estate says it will be fine.
http://www.dnaindia.com/money/repor...t-no-scope-for-correction-says-credai-2277276
Most important, CII backs it.
“Masterstroke,” echoed the Confederation of Indian Industry (CII).
http://knowledge.wharton.upenn.edu/article/demonetization-india-will-pay-price/
Crisil:
“[The demonetization] move could change the face of the Indian economy.”–Crisil Report