5 years back on 8th November, the country came to a stand still. At 8pm the PM announced 500 and 1000 notes to be out of legal tender. The many claims made by the government is now proved to be just lies. The poor and the marginalized had to bear the brunt of the economic destruction that followed. The economic downturn that was triggered by demonetization has been further deepened by the successive moves like the GST & the lockdown.
It has been 5 years since the country came to a standstill as the govt wiped out 86% of cash on a few hours’ notice. What followed was chaos, panic and untold suffering for the poor and the marginalized. The economic downturn that was triggered by demonetization have been further deepened by the successive moves like the GST & the lockdown.
The many claims made by the government is now proved to be just lies. The article here is a part of a series that the Centre for Financial Accountability has put together with Scroll looking back at the five years of demonetization.
Article #1
Five years later, it’s even more clear that demonetization was a disaster for India
The move brought about a policy-induced crisis for the country and did little to stop the flow of black money.
by Arun Kumar
Looking at 5years of demonetisation, these series of short videos revisits the claims made on 8th November 2016.
Claim no 1: To end counterfeit currency
Claim no 2: to end black money
Did demonetisation end black money? Did demonetisation stop conterfiet currency?
To watch the full interview click the following link:
https://youtu.be/gFyC3bepGNU
Financial Accountabilty Network India.
For some of us demonetisation could be a distant memory of a troubled time. But for many of the small businesses of India demonetisation was the beginning of the end.
Dr. Sangeeta Gosh discusses the impacts of demonetisation, GST on the small businesses of the country.
Watch the full interview of Dr. Sageeta Gosh
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