Bloomberg News: NaMo's Tughlaqian Demonetization is a lot of pain for very little gain

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Bloomberg News: NaMo's Tughlaqian Demonetization is a lot of pain for very little gain

Post by Rashmun on Wed Jan 04, 2017 11:54 pm

https://www.bloomberg.com/news/articles/2017-01-04/india-said-to-get-97-banned-notes-in-setback-to-graft-crackdown

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Re: Bloomberg News: NaMo's Tughlaqian Demonetization is a lot of pain for very little gain

Post by Rashmun on Thu Jan 05, 2017 1:47 am

Virtually all the banned 500 and 1,000-rupee notes have been turned into banks, according to a report by Bloomberg, which means that the government's abrupt demonetisation drive has failed to uncover and destroy black money.

"I don't know" was Finance Minister Arun Jaitley's response yesterday when asked if the estimate is correct.

http://www.ndtv.com/india-news/97-of-banned-notes-back-in-banks-i-dont-know-says-finance-minister-arun-jaitley-1645298?pfrom=home-lateststories

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