Every rupee of the Rs 15.42 lakh crore (barring a small sum of Ra 13,000 crore) has come back to the RBI.
Remember who had said that Rs 3 lakh crore will not come back and that will be a gain for the government!?
Remember who had said that Rs 3 lakh crore will not come back and that will be a gain for the government!?
I suspect that the bulk of the Rs 13,000 crore is currency in Nepal and Bhutan and some that was lost or destroyed.
So, government and RBI actually demonetised only Rs 13,000 crore and the country paid a huge price.
Over 100 lives were lost. 15 crore daily wage earners lost their livelihood for several weeks. Thousands of SME units were shut down. Lakhs of jobs were destroyed.
Indian economy lost 1.5 per cent of GDP in terms of growth. That alone was a loss of Rs 2.25 lakh crore a year.
