4 ms·
In 2016 India did the infamous demonetization claiming that the ₹500 notes were used in hoarding black money and funding terrorism. It ended up massively shock
by lpcn112 7y ago
In 2016 India did the infamous demonetization claiming that the ₹500 notes were used in hoarding black money and funding terrorism.
It ended up massively shocking the unorganised economy, and the nation is still recovering from it. The main reasons the government stated while doing it are still going on. The entire exercise didn't solve any problems.
- perl4ever 7y agoI don't have any actual knowledge of the effects of this in India. However, I think that when a member of the general public makes sweeping statements like "the entire exercise didn't solve any problems" it's only flaunting prejudices. If you work at a job related to infrastructure, the details would be incredibly boring to the public, and certainly aren't shared. But you could see something was double or half the year before, and it would mean infinitely more than a million people parroting what everyone always says because they always think the same thing.