Demonetisation will have adverse effects, says economist Amartya Sen

Nobel laureate Amartya Sen said on Friday the decision to demonetise currency was taken hurriedly without thinking about its consequences.

“I don’t think that this (demonetisation) decision was taken after considering all sides. It was taken hurriedly without thinking of consequences,” he said in Santiniketan.

“So far economics is concerned, I find no reasoning behind this decision. It will have adverse effects,” Sen said.

The Nobel laureate, who chairs Pratichi Trust, which works in the areas of health and education with special emphasis on gender equality, said implementation of mid-day meal project is not up to the mark in West Bengal.

“This project is very successful in Tamil Nadu, partly in Uttar Pradesh and other states. But in West Bengal the performance is average,” he said after attending a programme of the trust here.