New Delhi: It was on November 8, 2016 that demonetization or notes ban drive was implemented by Modi government. With the momentous drive completing six years, the jury is still out on its efficacy and the objective with which it was launched.
Political rivals are unsparing of the Centre for rolling out a ‘disaster scheme’ and are taking potshots at the BJP-ruled govt for playing havoc with the lives of common people. From Congress to Shiv Sena to Samajwadi Party, all launched direct attack on Modi government and accused it of spoiling economic growth & derailing India’s growth trajectory.
“BJP said that this will free the country of black money but it has only went on to destroy businesses & ruin jobs sector,” Cong Prez Mallikarjun Kharge said.
Though many commentators & economists see the courageous drive as the precursor to strong growth in Goods & Services Tax (GST) collections and believe that it did more good than bad to the economy.
Internet is though divided over the impact of demonetization, after 6 years of notes ban, most of them are critical of the move dubbed as ‘black money killer’.
A lot many netizens are sharing quirky posts & memes & videos to recall how their near & dear ones had to suffer due to govt’s unilateral decision.
— NiraLi Solanki ? (@NiraLi___) November 8, 2022
8th Nov 2016 marks the 5 yrs of #Demonetization#Black_Day_Indian_Economy
It was a disaster made by our own PM, where More than 100 died & millions suffered due to cash crunch.
But the value of bank notes in circulation increased by 16.8%.
Did the Black money return????? pic.twitter.com/nhXByyWzJn
— Anil Jha (@AnilJha58772137) November 8, 2022
“Give me 50 days”
Otherwise you will hang me at the crossroads.
— SaifuddinAITC (@SR_Tmc007) November 8, 2022
— நாகப்பட்டினத்தான் ❁ (@Vinosh_Pinku) November 8, 2022
— Rofl Nadda (@RoflNadda) November 8, 2022
????? ?? ???? ?????? ???…
— তন্ময় l Tanmoy l تانماي l (@tanmoyofc) November 8, 2022
As on Nov 4 2016, the money in circulation with the public was Rs17.7 lakh cr. After 6 years the current money in circulation is Rs30.88 lakh cr (72% increase)
Money flow has not decreased and black money has not disappeared?#Black_Day_Indian_Economy pic.twitter.com/QPnppFk5gf
— majnubhaisays (@thismjnubhaisay) November 8, 2022
— Mohd Abdul Sattar (@SattarFarooqui) November 8, 2022
— Rofl Democrazy (@FakeerHun) November 8, 2022
— STALIN (@Stalinrx) November 8, 2022
One foolish from an illiterate that caused misery to millions. Indian economy continues to be affected by the #DemonetisationDisaster . Never forget, never forgive. #Black_Day_Indian_Economy pic.twitter.com/LILDWCLXVP
— श्याम लाल (@Shyam_lal_m) November 8, 2022