Sensex, Nifty, Midcap off day's high
Eswar Prasad, Professor of Economics at Cornell University, said Narendra Modi hasn’t solved the problem yet of black money. But he has created a momentum through his demonetisation drive. The key question is whether he will follow through with it, he said. Another major pain area Prasad highlighted as a result of the demonetization move were technical problems that the common man faces.
Resolving them, going forward, will be key, he said. The key issue from his point of view is what this cleanup drive does on a broader reform effort. "If it turns out to be a building block to other broader economic reforms, it would push India in the right direction," he said.
Eswar Prasad, Professor of Economics at Cornell University, said Narendra Modi hasn’t solved the problem yet of black money. But he has created a momentum through his demonetisation drive. The key question is whether he will follow through with it, he said. Another major pain area Prasad highlighted as a result of the demonetization move were technical problems that the common man faces. 
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