Three years of demonetization: Know how effective it is for India and its economy

Today i.e. on November 8, 2016, on this day, Prime Minister Narendra Modi announced the closure of old notes of 500 and 1000 notes. Soon after, as if there was an earthquake in the whole country. Long lines outside ATMs, fierce shopping and lots of responses. We got to see a lot. Political rhetoric was also well done. While the ruling party said the decision was in the interest of the country, the opposition strongly opposed it.

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Three years after this big decision, his memories are becoming a bit blurred in the minds of common people. But our leaders are leaving no stone unturned in making this issue a political issue by constantly airing it. Not only in the Lok Sabha elections but also in the assembly elections, there was a lot of support for demonetization in the campaign against BJP.

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According to eminent economist and former Prime Minister Manmohan Singh, demonetization was blamed for the current economic slowdown in the country. He said that the BJP is responsible for the current situation. Demonetisation is the main reason behind derailing the Indian economy. From his statement, it seems that this decision has caused a lot of damage to the country's economy.

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