4 ms·
Any media reports on this? Really sad that a great human toll was paid for naught.
by brutus1213 10y ago
Any media reports on this? Really sad that a great human toll was paid for naught.
- denzil_correa 10y ago80% of the demonetized currency was back into the banks, 20 days before the final date [0]. Bloomberg reports that the final number could be as high as 97% [1]. Now, the question you should ask is - How much of black money was in cash? The answer is approx. 6% according to Min. of Finance White paper on Black Money. So, effectively - 86% of the currency was demonetized to target 6% of unaccounted income. No matter how you slice/dice this policy, the costs significantly outweigh the benefits. [0] http://timesofindia.indiatimes.com/business/india-business/80-of-old-notes-worth-12-4-lakh-crore-back-in-banks/articleshow/55970699.cms http://timesofindia.indiatimes.com/business/india-business/8... [1] https://www.bloomberg.com/news/articles/2017-01-04/india-said-to-get-97-banned-notes-in-setback-to-graft-crackdown https://www.bloomberg.com/news/articles/2017-01-04/india-sai...
- deleted 10y ago[deleted]