PM Narendra Modi Five years of demonetization since November 8, 2016 What has changed in the Indian economy


News Desk, Amar Ujala, New Delhi

Published by: Kumar Sambhav
Updated Mon, 08 Nov 2021 07:50 AM IS

Summary

Referring to politics in his speech, Prime Minister Modi had said that what honest citizen would not be saddened by the news of millions of rupees stuffed into the beds or bags of government officials? Those who have money not accounted for, must declare it under duress.

symbolic image of demonetization
– Photo: PTI

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Expansion

Today is November 8. Five years ago, that is, on this day in 2016, Prime Minister Narendra Modi addressed the nation at 8pm and declared the 500 and 1000 rupees banknotes illegal. At the time this decision was made, these two banknotes represented 86 percent of the currency in circulation. What changed in the country’s economy due to demonetization during these five years? How are these changes related to demonetization?


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