For those who say that the new Rs. 2,000 note will fail at making it harder to hoard black or undeclared money, economist Bibek Debroy has a short answer: "Don't assume the government is stupid." He also has another health warning: "Do not assume that Indians are stupid. They will figure out ways of circumventing it (the new rules on notes), and what the government is trying to do - is preempt it."
