Discover and read the best of Twitter Threads about #demonetisation

Most recents (24)

RBI reveals no Rs 2,000 note printed this year as NIA says high quality fake currency has resurfaced.

scroll.in/latest/940543/…
Now attention is invited to my blog post during #demonetisation disaster.

I asked this question loud and clear when our channel chamcha journalists were cheering about this pink note
Do you remember how far the figment of our collective imagination reached during those times?

Again, a screenshot from my blog 🤣
Read 14 tweets
Anybody interested in #India's #Economy should take 30 minutes time out and listen to this interview. There is both sound, credible analysis of the problem AND an entirely logical policy prescription. #AltSarkar @PIB_Altsarkar @fek_le @Vidyut
thewire.in/video/watch-ce…
A quick summary:
1. Our present problems can be traced back directly to the stupid, stupid move on Nov 8 2016 when 86% of the means of settlement of dues was taken out. Damn that #Demonetisation. We in #AltSarkar have to acknowledge it even if its defenders do not.
2. India's problem is a demand side problem. People have neither the free disposable cash now nor the confidence in their future to take a loan to go out and buy stuff.
3. You don't deal with a demand drop off by propping up supply side factors. #AltSarkar believes in logic
Read 15 tweets
Thread on some #KeyTakeaways from #LokSabhaElections2019 results:
1. There was always a #Modi wave but the #LeLi Commentariat insisted it was an undercurrent against Modi and #BJP.
2. Losses in Rajasthan, MP and Chhattisgarh in 2018 were an aberration and not a trend. 1/n
3. Vote transfers do not happen between historically hostile parties. Anticipated vote transfer did not happen in #UP. SP-BSP #MahaGathBandhan was nonstarter.
4. Never mind the bunk peddled by pop political analysts. #India would prefers Government with single-party majority. 2/n
5. Mamata Banerjee underestimated Hindu backlash to her brazen Muslim appeasement and pandering to illegal Bangladeshi immigrants.
6. She overestimated the ability of party goons to strike fear among voters. It took 34 years for LF to unravel; TMC less than 10 years. 3/n
Read 11 tweets
If we, as a country, need to feel ashamed of having voted #NarendraModi to power, it should be for 2014

No way how 12 yrs/ Godhra shd have been erased from Indian collective memory in greed for greater GDP growth+higher paying jobs

EVM + #not Indians are voting Modi 2019
To punish us for our Godhra-genocide amnesia

▪️GDP plunged to the extent that absolute numbers were constantly conjured up + growth faked by tweaking base
▪️Instead of higher salary, jobs were lost following
#Demonetisation #GST
▪️Hate speech, lynching, riot-accuseds took over
Best proof of 2014-2019 pathetic corrupt performance of NarendraModi

▪️Gag #EC via a compromised CEC with family in corruption-litigation

▪️Sack #CBI chief to protect self from conviction

▪️Raghuram Rajan, Urjit Patel taken care of, insert ShaktikantaDas to claim #RBI reserves
Read 22 tweets
In the first of a #ReportCard series taking stock of the NDA-II government, the #PlainFacts team assesses the #MakeInIndia initiative to find that the scheme has been a disappointment so far @Sneha_Alexander livemint.com/industry/manuf…
The second part of the #ReportCard series, out today, looks at the government's record in banking @Sneha_Alexander #PlainFacts livemint.com/industry/banki…
In the third part of the #ReportCard series, @Sneha_Alexander and @ivishiknew examine how the MGNREGS program has (not) changed under the current regime #PlainFacts livemint.com/politics/polic…
Read 12 tweets
The BJP govt. believes Modinomics has outperformed all previous govt's, however, facts are clear. UPA II 2009-10, GDP growth at 8.84%, NDA II 2017-18 at 6.7%
#10YearChallenge
#Budget2019 #AakhriJumlaBudget
FM @PiyushGoyal claims they will control fiscal deficit to 2.5% in FY20, highly improbable as CAG report said, that by using off-budget financing the Modi govt. is hiding the true extent of fiscal and revenue deficits.
scroll.in/latest/908795/…

#Budget2019 #AakhriJumlaBudget
The FM who is also the Railway Minister claims that the Modi Govt put Mizoram & Tripura on rail map for the first time. He lied.

modilies.in/2018/12/07/lie…

#Budget2019 #AakhriJumlaBudget
Read 18 tweets
So journalists doing stories after printing views of every side in the #Aadhaar debate is labelled as "activism". As if "activism" is a bad thing. But, here are a few questions for @Product_Nation and it's volunteers #Thread
1. Is it a #Conflict of #Interest when you use public money to build a system and then create or join private corporations to draw business from that very system?
2. Can you serve as a GoI employee and also serve on boards, companies that are drawing knowledge, business, profits from what you are building from inside the Government? #Aadhaar #CronyCapitalism
Read 14 tweets
#இடஒதுக்கீடு #தரம் பற்றிய வரிசையில்... ஒரு பதிவு தொடர்கீச்சாக உங்களோடு...

👉🏿ஐஏஎஸ், ஐபிஎஸ் பணிக்கான தேர்வு எந்த மொழியில் நடந்தது...?

🖐🏿1950 முதல் 1965 வரை ஆங்கிலத்தில் மட்டுமே நடந்தது
👉🏿ஆங்கிலத்தில் நடத்தப்பட்ட அந்தத் தேர்வு எழுதியவர்கள் யார்?

🖐🏿அப்போ ஆங்கிலம் தெரிந்து இருந்தவர்கள் பெரும்பாலும் பிராமணர்கள் என்பதால் அவர்களே பெரும்பாலும் தேர்வு எழுதி, வெற்றி பெற்று பதவிகளை அடைந்தனர்
👉🏿#இடஒதுக்கீடு அப்போது இருந்ததா?

🖐🏿பெரியாரின் முயற்சிகளால் முதல் சட்டத்திருத்தம் மூலம் தாழ்த்தப்பட்ட வகுப்பினருக்கு மட்டுமே இருந்தது
Read 43 tweets
So much endless discussion on #Demonetisation and unending pontificating. But has anyone pointed about the real message from that exercise :
IT IS : Fiat money has finite life !
The closest to any money that has near infinite life is atomic Number : 79
A 500 Rupee Note (pre Demonetization) of 2016 November is not same as the one in 1996 November (in terms of value)
The Sensex of 2016 not same as Sensex of 1996.
Even the landmark of yesterday could be part of a highway today.
But Atomic No 79 was/is/will remain same !!!
Anyway purpose of this ranting is just to observe that inflation is single most important metric which investors , citizens and voters fail to factor in all their understanding. Once we factor , we will understand how fragile the very important and essential Fiat money is - End
Read 3 tweets
On the eve of the #2ndAnniversary of the #DeMonetisation that we know was a #DemonetisationDisaster I present a Tweet thread on my analysis of just one of the many claims made for it - that it would boost #cashless #digital transactions. It did not do that. Here's my evidence:
The analysis and paper (Draft 1) is here:
on issuu: issuu.com/home/published…
and
on Scribd: scribd.com/document/39252…
But here in this thread I present the main results. Previous analysts used a simplistic approach of doing a before-after comparison. But this is a spurious method
It leads to the Post hoc ergo propter hoc fallacy. See rationalwiki.org/wiki/Post_hoc,…
My analytical approach was simple. I used the figures from RBI and took the monthly data upto Oct 2016 on each idicator and treated it as a regular time series data. (see robjhyndman.com/hyndsight/fpp/)
Read 18 tweets
Re: The intellectual underpinnings of #DeMonetisation of 8 Nov 2016. A Tweet thread.
Was there a body of theoretical or logical intellectual economic thought that could have influenced #Indian Prime Minister Modi to spring the #wreckingball of #Demon on the Indian #Economy?
1. Nobel Laureate Kenneth Rogoff wrote a book 'The Curse of Cash' . He argued for the phased withdrawal of the USD 100 bill. His arguments were:
1. Hardly anyone in USA ever used or carried the 100 dollar note. Smaller transactions were paid, when they were paid with cash,
With USD 20s or 10s. Transactions of > 100 USD value were settled by cheque, plastic or bank transfers.
2. 40% of all USD 100s are held outside America.
3. The main sector where the 100 dollar bill was used regularly was the trade in guns, drugs and crime. All over the World.
Read 12 tweets
Some #Demonetisation thoughts!

Many here asked me why I am not reacted to the latest RBI Annual Report which exposed DeMon as nothing but a perverted dream of a Tughlak.

First of all there was nothing surprising elements there for me!!
Then everyone was discussing the amount of 99% returned to the system! Some sigh of relief as our Urjit stop counting, but I don't get any evidence that he has stopped that!!

Because still we hear about old SBN notes are seized by agencies ;)
Annual Report 2017-18 of the RBI that Rs.15.311 trillion Specified Bank Notes was returned. While RBI in its AR in 2016-17 itself admitted that as of June 30, 2017, received Rs.15.28 trillion of SBN. 

Total SBN demotenised was Rs.15.44 trillion

99.2% vs 99.0% is a big deal?? 😉
Read 16 tweets
#Demonetisation #Notebandi
1. Thread. Today the Government will try to refute the idea that the RBI numbers on 99.3% of demonetised currency being deposited in banks does not mean Demo was a disaster. Remember the following and watch out for some false arguments as well. 1/n
2. Remember PM Modi told us on 8 November 2016 that the Rs 500 and Rs 1000 notes with the corrupt will become worthless pieces of paper. Remember the govt told the Supreme Court that it did not expect 25%-30% of the demonetised currency to be destroyed. Well... 2/n
3. They will now say money coming into banks gives us an idea of who made large deposits and we can now catch the corrupt. Ask them how many of those who made large deposits have been identified, charged & punished since December 2016.The answer is not a single one 3/n
Read 8 tweets
Do you know the company that was contracted during #Demonetisation to print our new currency notes #DeLaRue was blacklisted and banned for its involvement with Pakistan in spreading fake currency in India & is being sued in courts after we reported it? greatgameindia.com/secret-world-i…
What we were not told about #Demonetisation was that while Indian govt was cracking a whip on the informal economy the actual black money was already being routed back into India legally via India’s Biggest Scam – #RoundTripping #BlackMoney As #FDI?
greatgameindia.com/indias-biggest…
Was the Head of State of British Government & of erstwhile British East India Company present in India to ensure that #Demonetisation scam money was properly transferred to them? Did #Demonetisation finance #Brexit? gginews.in/durga-mata-the…
Read 11 tweets
नकदी पर वैश्विक युद्ध #WarOnCash भारत पर इसके #नोटबंडी #Demonetisation पर प्रभाव के साथ एक नकद-रहित समाज #CashlessSociety की ओर धक्का देने के षड्‍यंत्र का अध्ययन।

gginews.in/global-war-cas…
दुनिया भर के बड़े बैंक अधिकारी जो मुद्रा का आतंकवाद फैला रहे हैं, मौजूदा वक्त में राजा या किसी भी सेना प्रमुख से ज़्यादा शक्तिशाली हैं, कहा जाए तो रोम के पोप से भी ज़्यादा। उनके अधिकारी जो अंतरराष्ट्रीय तकनीकी जानकार हैं वो हमारे देशों पर राज कर रहे हैं। gginews.in/global-war-cas…
विमुद्रीकरण ने कई सवाल पैदा किये, विभ्रम उत्पन्न हुए, विश्लेषण जारी हुए, नई वैचारिक परिकल्पना सामने आईं, लगभग ये सभी बिंदु अर्थव्यवस्था के इर्द गिर्द भटकते रहे। पर कोई भी इस जोपोलिटिकल ताकत को नहीं आंक पाया जिससे चलते हुए ये फैसला लिया गया था। #WarOnCash
gginews.in/global-war-cas…
Read 3 tweets
Why would Baba Ramdev advocate for the Church owned world's most hated British company Vedanta which is forcibly acquiring Indian mineral resources on via Israeli trained mercenary police terrorizing common Indian populace. Read thread below👇🏾
What are these tapes? Who were these females supplied to?
Last year our so called 'nationalist' leaders were in London begging Queen to clean River Ganga through her Crown companies Vedanta & Foresight Group. Just like their favorite Crown firm #DeLaRue printing Indian currency to this day was saved from bankruptcy via #Demonetisation.
Read 11 tweets
RBI has come with an excellent paper on the benefits of #Demonetisation - with undeniable facts and data and not rhetoric that has been offered by newly minted economists or stale shayari from the Congress stable. Consider some facts in next few tweets.1/10
Currency in circulation (CIC): CIC was down by 8% Y-o-Y as against 17.2% rise in previous year. So as of 27th Oct 2017, CIC was around 91% of pre-demonetization levels and actually 81% if same growth rate had continued in absence of demonetization. 2/10
Currency in circulation as proportion of broad money (M3) fell to 12.3% on 13th Oct 2017 as compared to 14.4% on 11th Nov 2016. The conclusions in RBI paper are thus significant. 3/10
Read 11 tweets
1/ This is voodoo economics. Lets start with high real estate prices being a problem. Are there not other ways of dealing with an asset price bubble here?Rraising Stamp Duty, a national register of real estate, gradually escalating property tax, are some measures...
2/ The trouble is that these steps call for better honest administration that is non-corruptible and fair. But that remains elusive in India. The fact is that while property prices may have come down, the venality has not. There's still a lot of under-the-table deals.
3/ with all the cash sloshing around Indian money has now become the largest source of deals for real estate in Dubai. So the rich guys have found a new place to park their wealth. Thank you for #DeMonetisation.
Read 15 tweets
Let me show u how the CBI has been used as a puppet of the Modi govt in the #Ryan #PradyumnMurderCase only and only to divert the media from the debates of #DeMoDisaster . #thread :
1. The CBI has NO evidence that the 11th std boy went into the toilet before the murder of #Pradyumn. They base their case on the "fact" that the 11th grade boy saw the body & told the school staff about it . N
2. With no evidence to show the 11th grade boy was in the toilet before #Pradyumn came , the case by the CBI rests on the murder weapon. The CBI has still not determined where the boy got the weapon from ! N
Read 11 tweets
Gujarat is blessed by having extremely enterprising people who have done exceptionally well worldwide: Former PM Manmohan Singh in Ahmedabad
Modi often says nothing was done in 70 years before he became the PM. Does he really mean that? Asks Manmohan Singh in Ahmedabad
Life expectancy was 31 years at independence, now it is 70 years. Is this not progress? Asks Manmohan Singh in Ahmedabad
Read 14 tweets
1 year of #Notebandi: Lasalgaon, asia's largest onion market, stopped cash payments to farmers. Traders give 20 days post dated cheques 1/n
Takes a month for the cheques to encash. Many cheques bounce. Meanwhile, Farmers take loan to make their payments till the cheque encash 2/n
"Only traders benefitted from Notebandi" farmers allege.Traders get 1-2 months to make their payments which used to b cash till Nov '16 3/n
Read 8 tweets
1. In @TOIIndiaNews I argue that the govt has been more concerned with taxes/pub finances than the broader economy. blogs.timesofindia.indiatimes.com/toi-edit-page/…
2. August 2017: I have been warning about the government’s policy missteps for a while. E.g. with @rajeevgowda. thehindu.com/opinion/op-ed/…
3. February 2017: “Modi and the sunk cost fallacy”. blogs.timesofindia.indiatimes.com/toi-edit-page/…
Read 11 tweets
Thread: The real objective behind #demonetisation was… (1/n)
Nov 8, 2016: Modi demonetisation speech - “to get a grip on corruption and black money”
narendramodi.in/text-of-prime-… (2/n)
PM Narendra Modi uttered the phrase “black money” 18 times in this speech on Nov 8, 2016. (3/n)
Read 23 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!