The interview is comprised of:
Pradip Bhandari, the Founder and CEO of Jan ki Baat interviews Anurag Batra, the Chairman and Editor-in-chief of Businessworld regarding the demonetization-move that India is confronting at the moment. The effects of Demonetization on the marketing strategies and the economy must be taken into account because these sectors impact on the GDP of the nation. Anurag Batra believes that demonetization is undoubtedly painful in the short-term but its effects in the long-run are what we must focus on: the retail impact is only a short-term issue; there are also chances for expansion of big companies on the cards.
Demonetization came as a surprise to many when PM Modi declared his, and his governments, intention to clean the nation, on 8th November 2016. Getting rid of black money formed major chunk of Modi and BJPs 2014 manifesto. Withdrawal of the legal tender of ?1000 and ?500 met with staunch resistance by some groups and was questioned by many. Though demonization was lauded for its noble goal, it was simultaneously critiqued for the loopholes it contained.
The nature of this reform was such that pre-information about it was impossible to disseminate and thus, pre-planning the reaction, too, was impossible. The problems accompanying demonetization are numerous and are waiting to be tackled with. However, if, as Anurag Batra remarks, its followed through with other measures, it has the potential to become a good, beneficial policy in long-run.
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