The RBI report made it clear that the demonetization failed to achieve any of the targets. The ex-Finance secretary, Mr. Mayram, who called demonetization a “series of blunders” is now being haunted by the RSS/BJP Government.
With 99 percent notes returning in the treasury and the one percent must have been locked in the other processes, no black money is returned to the State.
The worst impact of the demonetization was the dip in the GDP which saw its lowest 5.7 % in last three years. This is serious because India did not have to pay a lot for importing oil.
The RSS/BJP Government has denied the benefits of falling oil prices to its citizens and despite that the GDP nosedived.
The RSS/BJP Government is trying to save its face, but it is unlikely to hide its failures further as the common man in India is feeling the heat of the draconian and mindless policies of the RSS/BJP.
The discontent is expressed by the poll conducted by the Indian Express where 65 percent dubbed “demonetization” as a botched policy that failed to bring out black money.
Author – Mangesh Dahiwale, Human Rights Activist