Demonetisation got popular support initially, but patience soon ran out. It dealt a massive blow to the Indian economy, and 99% of the currency came back.
In a Facebook post Thursday, Arun Jaitley said demonetisation was a key step in a chain of important decisions taken by the government to formalise the economy.
If you are not a fan of Modi govt, then demonetisation is the classical definition of governance by urban legends, WhatsApp forwards and early morning brainwaves.
For the last 11 years, Nehru has been constantly blocking my efforts and causing the fiascos that are my many yojanas and abhiyans. He is the reason most of my initiatives turn into disasters.
India’s industrial output growth saw a 10-month low in June, with Index of Industrial Production (IIP) growing by mere 1.5% as against 1.9% in May 2025.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
What is in a note?It is simply a medium of exchange.The colour of the note does’nt matter much it is a childish idea.Modi has a habit of poking his nose even where it is not required.
>> “People bought Modi’s ‘anti-rich Kool-Aid’ and patiently stood in queues, thereby putting their faith behind the idea. Once they did so, they found it difficult to be angry about its failure since that would mean admitting they were wrong in buying the Kool-Aid.”
The same could be said about the communists, isn’t it? In their case, its worse as they not only brainwash the revolutionaries, but also ask them to pick guns and fight against the state. But I’m sure you won’t say a word against the communists or the #UrbanNaxals. This article is just out of desperation of not being able to find anything tangible against Modi ji!
>> Modi’s Swachh Bharat is a similar example where he asks people to contribute to cleaning up cities. India’s streets are no cleaner but as a political campaign, it is successful.
On what basis can someone claim “India’s streets are no cleaner” ???
“Yet, if people are not angry with Modi over the failure of demonetisation, it’s because it was cleverly designed as a branding and marketing exercise in itself.”
The entire article is full of such puzzling statements.
If you don’t understand why I’m saying this, read the very opening lines of the article:
“The currency note was a prop, the ATM queues an exercise in behavioural psychology.” (????)
My sense – it could be off by a few months – is that till about demonetisation, the world had a favourable opinion about the Indian economy. Its growth momentum was picking up, India stood out against an anemic background. After that, other economies have been doing well, India is seen as averse to reform, not achieving its potential. The flight of capital this year has been painful. Management of such a large, complex economy, which feeds over a billion people, cannot be an instinctive, gut feel, seat of the pants exercise. A pot of gold containing four trillion at the end of the demonetisation exercise proved to be illusory. There is apparently a pot of equal size hidden in the RBI’s reserves. One can only hope history will not be repeated. It would wreck global confidence in the management of the Indian economy.
The conclusions drawn in the article are at best the personal opinion of the author..they are not supported by data.. another example of broad brushing own opinions as public views/sentiments..the ground realities are different though..
What is in a note?It is simply a medium of exchange.The colour of the note does’nt matter much it is a childish idea.Modi has a habit of poking his nose even where it is not required.
By the garbage near my house before and after the campaign. Nothing made the difference.
>> “People bought Modi’s ‘anti-rich Kool-Aid’ and patiently stood in queues, thereby putting their faith behind the idea. Once they did so, they found it difficult to be angry about its failure since that would mean admitting they were wrong in buying the Kool-Aid.”
The same could be said about the communists, isn’t it? In their case, its worse as they not only brainwash the revolutionaries, but also ask them to pick guns and fight against the state. But I’m sure you won’t say a word against the communists or the #UrbanNaxals. This article is just out of desperation of not being able to find anything tangible against Modi ji!
>> Modi’s Swachh Bharat is a similar example where he asks people to contribute to cleaning up cities. India’s streets are no cleaner but as a political campaign, it is successful.
On what basis can someone claim “India’s streets are no cleaner” ???
Read the very last sentence of this article:
“Yet, if people are not angry with Modi over the failure of demonetisation, it’s because it was cleverly designed as a branding and marketing exercise in itself.”
The entire article is full of such puzzling statements.
If you don’t understand why I’m saying this, read the very opening lines of the article:
“The currency note was a prop, the ATM queues an exercise in behavioural psychology.” (????)
I guess it’s all meant for intelligent people.
My sense – it could be off by a few months – is that till about demonetisation, the world had a favourable opinion about the Indian economy. Its growth momentum was picking up, India stood out against an anemic background. After that, other economies have been doing well, India is seen as averse to reform, not achieving its potential. The flight of capital this year has been painful. Management of such a large, complex economy, which feeds over a billion people, cannot be an instinctive, gut feel, seat of the pants exercise. A pot of gold containing four trillion at the end of the demonetisation exercise proved to be illusory. There is apparently a pot of equal size hidden in the RBI’s reserves. One can only hope history will not be repeated. It would wreck global confidence in the management of the Indian economy.
SPOT ON!
The conclusions drawn in the article are at best the personal opinion of the author..they are not supported by data.. another example of broad brushing own opinions as public views/sentiments..the ground realities are different though..