Life after demonetisation: How India’s poor are paying the price
Al JazeeraMore than two years on, many of India’s poor are still dealing with the effects of PM Narendra Modi’s financial reforms. Analysts say Modi’s financial reforms hit people in the informal sector – who are also among India’s poorest – particularly hard. ‘A more tax-compliant society’ Former Finance Minister Arun Jaitley said in a Facebook post on October 1, 2016 that “The object of the scheme was to try and make India a more tax compliant society. “With demonetisation and the subsequent GST sucking out a very large amount of cash from the economy, almost everyone in the informal sector was severely harmed because the business was disrupted and the entire supply chain was derailed,” Vyas told Al Jazeera. ‘Large-scale unemployment’ Jimmy Pauli Malaikal, the owner of a Mumbai-based small-scale chemicals maker and an official of the Chamber of Small Industries Association, which represents more than 25,000 businesses across India, says Modi’s financial reforms have resulted in “large-scale unemployment”.
History of this topic
Demonetisation was the biggest destroyer of livelihoods and small businesses, says Congress
The Hindu
Rahul Gandhi says Modi, KCR are looting people for corporates, family
Deccan Chronicle)
Demonetisation Dealt Body Blow to Systemic Financial Corruption, Black Money: BJP
News 18)
'Demonetisation, Wrong GST & Lockdown': Rahul Gandhi Accuses Modi Govt of Destroying Informal Economy
News 18
India's ambitious plan to help small businesses does little to save them
India TodayCountry will emerge out of the current slump much stronger: Modi
The Hindu
Three years after demonetisation: Lot of sound and fury signifying nothing
India Today
India’s economy slows, stalling once thriving manufacturing
Associated PressDemonetisation a carefully planned, criminal financial scam: Rahul Gandhi
The Hindu
How demonetisation impacted the Indian economy
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