monetary loss due to standing in queues it seems
The Congress party drones at the EPW (this paper was motivated by IAC's Jean Dreze) and the cretins at Takshashila think this is some sort of awesome analysis.
1) they based this result after looking at queues at 4 places in New Delhi -- statistically this is the equivalent of statistical analysis based on one data point.
Let that length be “L.” Once we have this value, we present a hypothetical situation in which they were asked, “If given an option to withdraw money without standing in the line, how much of ₹2,000 (standard withdrawal limit) are you willing to let go?” Let this price that they are willing to pay be “P,” in rupees.
2.2.2 Method 2: As a check on the first method, we asked our respondents to estimate the per hour monetary value of their queuing time directly.
So basically, they have pulled out of thin air some "value of loss per person for standing in a queue" and the jokers at EPW published this nonsense, no doubt to make the crown prince's baby gurgles seem credible.
Even if there was a hit to the economy for this duration, the targets of this exercise were the ones who would have answered the above question in percentages, given the amount of cash they had been used to hoarding for decades. All of this "research" from politically compromised drones fail to point out that those who lost the most in this exercise were given a chance to "wash their cash" after paying a nominal tax rate and opening themselves to questions about the source of the income.
I mean, here we have an exercise aimed at removing the entire informal (and non taxable) economy outside the govt's control, and these IIT Delhi geniuses are pretending that standing in queues for a month has caused great economic loss to the country. As if people in the country do not ever stand in queues for anything else, or indeed, that the average person had stashes of cash that they had to spend day after day waiting in queues.