Mumbai, Aug. 5 (Agencies): Social damage caused by lynchings could have a longer-lasting impact on the economy than some wrong policy moves such as demonetisation, according to noted economist Kaushik Basu. ”We should be proud of our heritage, but we do not want to retreat (to the past). ”This cultural attempt to reclaim your history by not picking up an instrument which is a vital instrument for engagement with the modern world has done huge damage to Bengal's economy,” Basu said. You can say that these two policies are good policies and these two are bad. Basu welcomed the rollout of the Goods & Services Tax, saying the new tax regime has some teething trouble but it was the right thing to do.

Source: The Telegraph August 05, 2017 12:00 UTC