In an interaction with ETRise, Kumar talks about how demonetisation has been catastrophic for MSMEs and how it has not destroyed even 1% of black wealth.

One of Kumar's responses to MSMEs effect was: MSMEs in India deal with cash to a very large extent. For their working capital or purchase of raw materials, cash is imminent for them. Demonetisation wreaked havoc in this sector. For instance, many people who live in Rain Basera in Delhi belong to the lower middle class. A balloon seller told me that his earnings dropped from Rs 250 to Rs 20 on a day. He told me that he could not even feed his children properly with that money. A small business owner said that all of his staffers migrated out of the city and he had to shut his business. 

Kumar also speakes to whether demonetisation has led to any structural changes in the way small businesses go about their business and the GST's impact.