Year-on-yearsalesatHeroMotocorp,thebiggestpurveyoroftwo-wheelers,slidbymorethanathirdinDecember
Asaresult,corporate-creditgrowth,alreadyanaemic,hasreacheditslowestrateinatleast30years
Predictably,theeconomyappearsindeedtohavebeenhobbledbythesudden“demonetisation"
AnnualGDPgrowthforecastsforthefiscalyearendinginMarchhaveslippedbyaroundhalfapercentagepoint,tounder7%,fromanactualrateof7
3%inthelastfullquarterbeforedemonetisation
Atleastthenewyearhasbroughtasemblanceofmonetarynormality
TheIndianpressisfulloftalesofhouseholdstaffpaidmonthsinadvanceinoldnotes,orofbankersagreeingtoexchangevastsumsillegally
MOSTeconomistsmighthazardaguessthatvoidingthebulkofacountry'scurrencyovernightwoulddentitsimmediategrowthprospects
OnNovember8thIndiatookthisabstrusethoughtexperimentint