PM [1]
Rank : Helper
Status : Super Owner
#1
While watching the news, I have seen the decision of Government, which says RBI to withdraw 2000 notes from the Indian economy. I had a search over Shri Manmohan Sing who gave a speech in Rajya Sabha about the issues which will happen after note ban. It was a warning to Shri Modi about the economy. In that speech Shri Manmohan Said that India's GDP will be decreased by atleast 2% as a result of note ban.
I searched on net about the result and it gave me a result that stated about 4% reduction in GDP in the quarter after note ban. I also saw an article by Geetha Gopinath who said that 2% reduction happened in GDP.
Shri Modi's argument was that he will be able to stop black money by this decision but it utterly failed and most of the currencies were returned back to RBI on time.
For printing these currency notes lot of money were spent.
Shri. Manmohan Sing were able to handle price hike in the market. But during Shri Modi poverty in India is growing up.-----------------
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Sonu,