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Demonetisation: Disastrous Policy for Narrow Electoral Gains

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.

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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