Note ban was a draconian, monetary shock: Arvind Subramanian 
Ex-Chief Economic Adviser Arvind Subramanian in his new book said that demonetisation was a "massive, draconian, monetary shock" and an "unprecedented move that no country in recent history had made in normal times". "Growth had been slowing even before, but after demonetisation the slide accelerated," he wrote. It's "one of the unlikeliest economic experiments in modern Indian history," he added.