Those who say demonetisation is good in the long run should recall the quote: ‘In the long run we are all dead’. -Dr. Manmohan Singh (Former Primer Minister of India, Economist) November 11, 2017| The monumental action by the government of India to scrap Rs.500/- and Rs.1000/- currency notes from the country on November 8, 2016, recently completed one year. The decision initially hailed as … Continue reading What is demonetization? Why did demonetization fail in India?
Demonetisation, in simple words, a process of stripping a currency unit of its status as a legal tender, as per recent economic statistics, has turned out to be a regressive step. As most of the observers seem to agree, it was a failure in relative to the costs it imposed on the country and its people. The whataboutery of the government as to what this … Continue reading Demonetization in India
In the month of November 2016, the demonetization of Rs. 1000 and Rs. 500 currency notes in India led common men through troubled times. In the wake of opposition and rising voices of dissent, the government changed its stance from citing black money as a reason to aiming for a cashless society. But the vision’ of people effortlessly swiping away on their smartphones to make … Continue reading The difference between a cashless economy and a cashless- enabled economy