A whopping 60% Indians said that black money in the country has not died; in fact, its circulation is going to only increase before the 2019 General Elections, a survey by LocalCircles showed.
Two years of demonetisation: Two years ago, when 125 crore Indians glued to their television screens desperately awaiting a surprise address by the Prime Minister of India, little did they know that he was going to announce a ban on bank notes which made up 86% of the total currency circulation.
In a televised address to the nation on November 8, 2016, Narendra Modi announced demonetisation with a special emphasis on it being a step taken to curb black money. He used the word ‘black money’ 18 times in his hour-long speech, while there was no mention of digitisation, cashless economy or income tax.
“To break the grip of corruption and black money, we have decided that the five hundred rupee and thousand rupee currency notes presently in use will no longer be legal tender from midnight tonight, that is 8th November 2016,” Modi said. “The five hundred and thousand rupee notes hoarded by anti-national and anti-social elements will become just worthless pieces of paper,” he added.
Now after two years, the jury is back with a judgment on demonetisation: A whopping 60% Indians said that black money in the country has not died; in fact, its circulation is going to only increase before the 2019 General Elections, a survey by LocalCircles showed.
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