Jaitley Right–And Wrong–On Currency In Circulation


    As one justification for scrapping 86% of India’s currency by value, Finance Minister Arun Jaitley–implying too much currency was circulating in India–said on November 22, 2016, that currency is 4% of gross domestic product (GDP) in most developed nations, while in India it is 12%.   In most developed nations, 4% of GDP …Read More