Cledwyn Fernandez

Cledwyn FernandezCledwyn Fernandez is currently pursuing his Ph.D in Economics from Xavier Labour Relations Institute, India. His research interests lies in the intersection of development economics and public policy. An area, in which he is also interested in, is the aspect of behavioural economics in decision making, and how it can help governments frame policies. He has a couple of book reviews and papers as publications in reputed journals. His latest research work is in the area of postal economics in developed and developing economies, with a major focus on reviving the Indian Postal Industry. His research also spans across international trade with the SAARC and ASEAN region, and topics dealing in experimental economics. Cledwyn is a fellow of the ‘Citizens of Public Leadership’ (an initiative started by students of Harvard Kennedy School, Princeton, and Columbia University). CPL is an independent and nonpartisan movement focused on advocating for progressive public policy in India. Apart from academics, his passion in sports lies in playing and watching tennis, swimming, and travelling.

Papers Published in World Economics:

Cash, Demonetisation and the Informal Economy in India

India took a demonetisation step in November 2016 by banning 500 and 1000 rupee notes as legal tender benefiting banks but hurting the poor and the under banked. The shadow economy was badly affected and even measured GDP growth rate slumped, but demonetisation proponents argued that the dip will reverse and the growth rate will reach 7.7% in 2019. A cashless economy would accelerate economic activities, curb corruption and protect consumers from fraud, frequent physical transactions and it has been estimated that it would save the Indian exchequer (and taxpayers) an amount equal to approximately 0.25% of GDP. The note withdrawal was a botched up job and demonetisation in India will only succeed if the Government can channelize it as a leverage point for a larger tax base, increased digitisation along with a more transparent, fluid and measurable Indian economy.

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