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The Demonetisation Debacle
JUST IN: Limited-Time Access to Full Transcript of Our Urgent Broadcast on India's Revival
On 8 November 2016, in a late-night broadcast to the nation, prime minister Narendra Modi announced that notes of Rs 500 and Rs 1,000, were being demonetised.
This radical move was being taken to tackle the menace of counterfeit notes as well as black money. Like most Big Government ideas, this idea also had its heart in the right place. The point is, which honest citizen wouldn't want the government to tackle counterfeit money which was feeding terrorism in India and black money which had been accumulated over the years.
But as usual the government botched up on the implementation. In a big way.
Here's Vivek Kaul on how the entire demonetisation drive unfolded...or should we say failed...
The State of Real Estate Post Demonetisation: Falling Prices, Desperate Builders and the Return of Black MoneyHome loan data suggests that prices have fallen to some extent... Read More | Of Demonetisation, Black Money and Jan Dhan AccountsOr how Jan Dhan accounts did not become a conduit for black money in the aftermath of demonetisation... Read More |
All Bank Deposits Post Notebandi Have Been Invested in Govt SecuritiesThis has led to interest rates on fixed deposits coming down dramatically and hurting savers... Read More | And the Notebandi Lies ContinueThe finance minister and his secretary are both lying in trying to tell us that all is well on the demonetisation front... Read More |
Paytm Karo! Will Govt End Up Building a Private Monopoly?The various mobile payment apps need to talk to each other. Currently, they don't... Read More | Demonetisation and the Mystery of Rs 3 Lakh CroreThe question is how much black money was really held in the form of cash. The answer might surprise you... Read More |
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