Demonetisation report card for India still mixed but shows promise

SPEAKING at the World Economic Forum in Davos, Switzerland, Columbia University professor and Nobel laureate Joseph Stiglitz made the radical suggestion that the United States should follow India's example and go through the process of demonetisation to rein in tax evasion and corruption.

Indian Prime Minister Narendra Modi's decision to demonetise high-value currency notes of 500 rupees (S$10.40) and 1,000 rupees almost overnight on Nov 8 last year has sparke…