Demonetisation: Disastrous Policy for Narrow Electoral Gains
Demonetisation removed 86% of the value of India's currency from circulation. It hobbled businesses, stopped crucial transactions, and caused massive unemployment. Yet, BJP managed to sweep the UP assembly elections within a few months of the event. The reason for this lies in India's inequality, which made the poor believe that demonetisation was meant to cut the rich down to size.
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