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Former Chief Economic Advisor Krishnamurthy Subramanian said the move to ban ₹2,000 is important

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In general, Dr. Krishnamurthy Subramanian, who served as the government’s chief economist from 2018 to 2021, thought the decision to withdraw the 2,000 note was a sensible one. In his tweet, Dr. Subramanian outlined  reasons why the change is crucial, including the fact that as the denomination’s use has dropped, it is now mostly used to keep cash.

2,000 rupee notes will no longer be in circulation, the Reserve Bank of India declared on Friday, setting off a political backlash. When the 500 and 1,000 note denominations were discontinued in November 2016, the 2,000 note was issued.

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