ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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One Step Forward, Two Steps Back

Demonetisation

The stated reasons for the 8 November announcement to demonetise ₹500 and ₹1,000 notes such as eradication of black money, counterfeit currency, and paving the way for a cashless society are examined. These issues are not addressed by demonetisation and do not justify the suffering this move has unleashed on the poor and the middle classes.

Is India a weak state which punishes only the small and weak? The rich and well-connected wrongdoer is virtually going scot-free … No one wants to go after the rich and well-connected wrongdoer, which means they get away with even more. If we are to have strong sustainable growth, this culture of impunity should stop. (Indian Express 2016)

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