- Gita Gopinath is a professor at Harvard University.
- Her appointment as financial advisor of Kerala Chief Minister Pinarayi Vijayan.
Indian-origin Harvard professor Gita Gopinath has opined that demonetization was a blow to the economy.
Speaking to CNBC-TV18 Gopinath said although she was in favour of progression towards a cashless economy it should have been a gradual process.
"We are seeing a lot of costs without seeing any benefits," the centre should have started with ₹ 1000 note," said the economist, who is also the financial advisor of Kerala Chief Minister Pinarayi Vijayan.
Gopinath also added that there is a lot of the indicators pointing towards a reduction in demand in the economy and one percentage point decline would not be surprising of GDP.
Gopinath's appointment as financial advisor to Kerala Chief Minister had sparked off a controversy in Kerala as Gopinath was considered to be a supporter of neo-liberal policies that was in contrast to the Left ideologies. Gopinath is the first Indian after Nobel laureate Amartya Sen to be named permanent professor at Harvard University.
Last Updated 31, Mar 2018, 6:40 PM IST