In 2016 the Indian government abruptly banned the use of 500 and 1000 rupees notes to curb (as initially told to people by the then finance minister Arun Jaitley) corruption, black money, counterfeit currency, and to combat terrorism. Within a month’s time everyone including the government knew demonetization failed to achieve its stated objectives so […]
Tag Archives: Black money
05
Jun
Jun
Narendra Modi is a master of manipulation. That is the reason why he is sitting on the top of the political hierarchy in India. As F A Hayek, in Road to Serfdom, said, in the market place the best of the best rise to the top by serving their fellow consumers, but in politics the […]
02
Sep
Sep
The exercise of demonetizing around 87% of all circulating currency note supply taken by Narendra Modi and RBI last November has resulted into nothing but overall disaster for the economy. In his televised speech on 8th November, 2016 Narendra Modi talked about three main goals of the whole demonetization exercise, and they were: Curbing financing […]