IESET.
Movements·modi_demonetisation_gst_2016_2017

Modi demonetisation + GST rollout

IND·2016 – 2017·BJP-led NDA (Modi government)
Leaders: Narendra Modi (PM) · Arun Jaitley (Finance) · Raghuram Rajan (RBI outgoing)
positionsdevelopmentalism

Doctrine — stated goals and content

Demonetisation 8-Nov-2016 — overnight voiding of ₹500 + ₹1000 notes (86% of currency in circulation) with stated aims of fighting black money, corruption, and counterfeiting. Followed by GST rollout 1-Jul-2017, unifying ~17 state and central indirect taxes into a single national VAT regime. Demonetisation produced short-run GDP shock (~1-2pp growth loss 2016Q4-2017Q1), modest long-run digitalisation benefit. GST is a structural reform with genuine long-run benefits contested by execution issues and compliance cost in the informal sector.

Policy-content fingerprint — how the framework codes this movement on its axes

↑
product market competition
regulatory.product_market_competition
Product-market regulation, entry barriers, licensing burdens, network-industry regulation, price controls.
increased · moderate
more competition-friendly (lower entry barriers)
GST unifies market across states; removes cascading taxes.
↓
property rights
institutional.property_rights
Security of private property rights — formal recognition, expropriation risk, titling systems.
decreased · weak
weaker property rights
Demonetisation arbitrary voiding of legal tender hit hardest at informal-sector wage earners.
—
tax corporate
fiscal.tax_corporate
Statutory and effective corporate tax rates, treatment of depreciation, and international competitiveness.
unchanged
GST is indirect-tax reform; corporate rates changed separately in 2019.

Policies enacted

What the data says — linked outcome hypotheses

The movement's outcome claims are tied to these hypotheses. Verdicts update as models run.

not yet written
structural_reform_absence_and_post_euro_stagnation

Schools of thought aligned or opposed

partial
developmentalism

References