Modi’s decision on demonetisation was based on an utterly false premise –“That all cash is black money and all black money is in cash.”
The former prime minister elaborates that the “vast majority of Indians
earn in cash, transact in cash and save in cash, all legitimately…
Unlike the poor, holders of black money have access to various forms of
wealth such as land, gold, foreign exchange, etc.” This crucial point
Modi did not understand, thus turning demonetisation into a “mammoth
tragedy” that has “thrown into disarray” the lives of millions. – The
Hindu promodpuri.com
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