Last week, former Indian finance minister P.Chidambaram said "not a single economist worldwide has approved the demonetization in India 2016
On November 08, 2016, Indian Prime minister made a sudden announcement that Rs 500 and Rs 1000 currency notes will be invalid from November 09, 2016. The Indian government plan was to destroy all black money/unpaid taxes hidden by Indians in cash in the form of Rs 500 and Rs 1000 notes.
Indian people were given time till November 23, 2016 to exchange the old currency notes at all the banks in India. So there were long queues outside Banks for depositing money and also withdrawing money. I was in the queue at the bank for 2 hours and 30 minutes.
Later Indian Congress leader 'Rahul Gandhi" said "91 people had died in queues outside banks and ATMs" which was the result of sudden announcement by PM Narendra Modi.
Prime Minister "Narendra Modi" is very proud of his actions
I am not much into politics and also i do not have enough knowledge about the politics but i guess "Rahul Gandhi" is not a much important person to the government now. He is the most trolled representative and also had no seats in the election this time. We actually don't know the truth that really 91 peoples died outside the banks and ATMs?
That actually sounds much funny and it is not that big issue. No one had any kind of injuries during the demonization. Demonization was for the better of the country "India" as it was an act to destroy the black money and j guess the PM of India "Narendra Modi" achieved some success in it as the total circulation of the national Centralised currency "INR" was changed a bit which indicates that it was a successful act for eradication of the black money.
I had read a lot about it into the global news as it was much popular and also i think some new taxed like "GST", "SGST", "IGST" etc were too been applied on the Indian taxe returns which made the existence of Black Money much harder. Hope that this act proves much better and it should contribute the the development of the country.