Calling 2016 demonetisation a “policy mistake”, economist Kaushik Basu Saturday rued that the most worrying situation in India in the present day is that of jobs.
“The most worrying is the jobs situation. It is unfortunate that data on unemployment are being held back,” rued Basu who was the chief guest at the 54th convocation of IaIM-Ahmedabad on Saturday.
He said lack of good reasoning led to the “policy mistake” of demonetisation, which has hurt India’s growth.
“That would not have occurred if there were policymakers who paid heed to the simple axiom of game theory that asserts it is not good enough to be rational yourself. You must recognise that others are likely to be rational too and take that into account,” Basu said,