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Why demonetisation is greatest blunder by a govt in 69 years of free India

For one, everyone seems to have forgotten that if new notes are of a different size, ATMs won't work

Prem Shankar Jha 

December 30, the deadline Prime Minister Modi set for completing his exercise in demonetisation has come and gone, and there is now no room to doubt that it was the single greatest blunder that any government has made in the 69 years that India has been free. On November 8, Mr Modi demonetised 20 billion bank notes, accounting for 86 per cent of the cash in circulation in the Indian economy. But only a fraction of the new currency notes needed to replace them had been printed. As if this was not inept enough ‘somebody’, that is to say everybody from the prime minister to the ...


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First Published: Sat, December 31 2016. 18:51 IST