Time To Punish Modi For Demonetisation Fiasco - By Yashwant Sinha
Thursday, September 6, 2018 IST
The annual report of the RBI released a few days ago is the last nail in the coffin of the failed demonetisation exercise. It has confirmed the worst fears that were expressed when the Prime Minister announced the demonetisation of Rs. 500 and Rs. 1000 notes at 8 pm on November 8, 2016. It was a bad idea, badly planned and badly executed. The original instruction issued by the RBI was amended repeatedly and the government did the same from time to time. By the end of the exercise, the goal post had been shifted so many times that the original objectives of the exercise were forgotten completely and new and spurious reasons were offered as justification for this move.
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