‘Himalayan Blunder’ of ‘Demonetization’ on Nov 8, 2016 wiped away livelihood of millions.
150 people died in the untold hardship. As Entire Currency in Circulation returns, Modi Govt still counting notes
Demonetisation was a disaster of epic proportions. It shaved off Rs 3 Lakh Crore from the Indian Economy. Demonetisation reduced India’s GDP Growth by 1.9% (nearly 2%), as predicted by Dr Manmohan Singh.
PM Modi claimed DeMo will finish Black Money, Fake Currency, Naxalism, Terrorism & put more money in Common people’s hands. All of it failed !
Will Modi ji answer as to where has the black money gone, 99.9% money has been re-deposited. Why is the Govt/RBI unable to count the deposited notes, even after 16 months of Demonetisation?
Out of 15.28 lakh crore currency received back, only 41 crore currency was found to be fake. 99.998% currency has been found to be genuine. Currency in Circulation at Rs 17.82 Lakh Crore is almost back to pre Demonetisation levels.
Naxalism & Terrorism did not end. Rather, there has been a spurt. Post Demonetisation, 53 major terror incidents in J&K alone, in which 99 Security personnel have been martyred and 64 civilians killed. There have been 23 major Naxal attacks after demonetisation, in which 88 security personnel martyred and 121 civilians killed.
Latest RBI report states, that owing to Demonetisation, Common people’s Household Financial Assets fell from 17.1% in Sept 2016 to 9.7% in Sept 2017.