The demon of demonetisation is still haunting common citizens (Five years later, it’s even more clear that demonetisation was a disaster for India). Cash deposits in bank were used by the government for making huge additions in assessments under the Income Tax Act. Excellent article. – Manmohan Dundu
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I fully agree with all viewpoints in this article (Demonetisation caused Indians needless pain. Modi must accept moral responsibility for it). I further believe that such an irrational decision not only caused hardship to ordinary citizens, it also resulted in wastage of manpower and resources both for the government and the public at large. Ordinary people had to line up in long queues to get the new currency notes. Demonetisation is a classic example of burning down an entire house to frighten a mouse away. – Dinesh Gulati
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Demonetisation was the best thing that could have happened (From diamond to dust: Five years after demonetisation in India). The move was the beginning of the end of black money, corruption, bribe, illegal activities and rich Lutyens. Only anti-nationals like Scroll.in may not like it. Since demonetisation, there seems to be no dearth of money in India. Life seems very normal and business as usual even after demonetisation. Cash transactions (root cause for corruption) has drastically reduced. Even beggars accept Google pay now. I can see all shops and establishments thrive with payment apps. Please do not spread false propaganda. I wish Modi gets five more years to wipe out corruption, Congress and Communists and their supporters. – Venkateswaran Thiruvaiyaru
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The widespread economic social goodness of India’s informal economy has always been underestimated vis-a-vis the narrow, meagre social outreach of the formal economy (From diamond to dust: Five years after demonetisation in India). The Bharatiya Janata Party government has never atoned to the informal sector for the grave injustices of demonetisation, Goods and Services Tax and lockdown-induced migration. Modi is solely responsible for not anticipating the economic woes of the poor. – Yudhvir Singh Chaudhary
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This is a wonderful article written without any bias and prejudice (From diamond to dust: Five years after demonetisation in India). It is very painful to read the stories of people who went through the pain of sudden demonetisation and GST implementation. I remember that a senior citizen in my society had mentioned to me that he had stood for days and hours to get his currency note exchanged from the bank. It took a toll on his health from which he could never recover. Thank you for this heart-touching article. – Nirmala Shetty