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Demonetisation: A circus, clowns and a silver bullet -James Wilson

-National Herald

Five years after the disastrous demonetisation, the Prime Minister and his Finance Minister—even the fawning media— no longer speak of the ‘Demonetisation Dividend’. There has been none

Two years back, on November 8, at around 8.30 pm, the Prime Minister of India, with his characteristic love for drama, unleashed on the country what he had then claimed was the one silver bullet which would eliminate the triple evils of black money, fake currency, and terrorism.

According to its inventor—for, it was nothing less than an invention—it was a broad-spectrum panacea to end everything that was holding back India from taking off. So sure was this magician of its powers and potency that he asked for a mere 50 days of inconvenience to be borne by the long-suffering public of India. He must have believed in his own rhetoric, because he offered to make himself available at any crossroad of his detractors’ choice and receive the punishment of their choice, in case the measure failed.

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This article was first published in the National Herald on Sunday

This article was first published on 04 Nov 2018