Cartoon Click: Another Push Down the Ladder!

In 2016, the dramatic announcement by PM Modi of demonetising Rs 500 and Rs 1,000 on national TV sent a wave of panic across the country. The economy has still not recovered from the shock and after-shocks. The much-hyped objective by the BJP government, of a ‘cashless economy’ and ending corruption, has come to nought.

Much for the Modi government’s tall claims, the ‘epic failure’ of demonetisation is clear. As per RBI data, currency with the public jumped to a new high of Rs 30.88 lakh crore an October 21, 2022, indicating that cash usage is still substantial.

As far as corruption is concerned, with the huge haulage of currency notes during elections, it is clear that ‘black’ money has now turned ‘pink’.

So, who suffers again, the cronies, the rich? No, it is small business, small shop-owners and small traders, who had barely picked up pieces and started all over again.

All because of one futile exercise (demonetisation) covering up another futile exercise (printing Rs 2,000 notes) that has brought nothing but gloom to this country’s economy and its working people.