Demonetisation of the Indian currency was a surgical strike against black economy, which was initiated with the Prime Minister Narendra Modi’s announcement that RBI was cancelling the legal tender of high denomination currency notes of Rs 500 and Rs 1,000. An expected hullaballoo followed the announcement with people getting restless about the second demonetization drive (the first demonetisation was done in 1978) by the Government. Let us observe the effects of this decision.
The government’s move is tantamount to the fact that a strong political will and good intentions can unearth even the decade old secrets. While the intent is clear, the implementation and long term impact is yet to be seen. It is laudable that if the Government wants to keep a secret, it really can, with some people calling it ‘Pokhran-3’.
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