EconomyIndia’s demonetization: A decade later, promises remain unfulfilled

Ten years after India withdrew high-denomination banknotes in 2016, the policy’s economic impact and success in curbing black money remain disputed. Prime Minister Narendra Modi said the move would tackle illicit cash, corruption, counterfeit currency and terrorist financing, but 99.3% of the withdrawn notes returned to the banking system. Economists cited real costs for cash-dependent informal businesses and limited evidence of lasting gains.

Indiademonetizationblack moneyinformal economy

DDW★★★☆☆2026-11-09 16:21Original