Here are three lessons from demonetization Indian policymakers must internalize
Since the Bharatiya Janata Party (BJP) won a thumping victory in Uttar Pradesh elections in March 2017, it was presumed that demonetization was a political success. Even if that were true, that success did not translate to easy victories in other states. The BJP faced a tough time in Gujarat later that year, and lost several major states in 2018. To be sure, it has emerged stronger since.
