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Rammanohar Reddy @ramreddy
, 8 tweets, 2 min read Read on Twitter
#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
4. They will say with black money in the banks, the economy is now clean. If you were looking to buy a flat after December 2016, tell them how much you were asked to pay in cash. Ditto if you were selling one. Ask too for an account for the cash spent in UP, Guj & Kar polls 4/n
5. They will say digitalisation has reduced the need for cash in the economy. Ask them if digitalisation wasn't going on before Nov 2016, and if the speed had to be picked up, if it needed the hammer of DM. 5/n
6. They will tell you DM helped increase income tax revenue. Ask them if this has continued in 2017-18 and 2018-19. And also if this too needed DM. Similarly about their goal of "formalisation" of the economy. 6/n
7. And, most important, yes, tell them if they have tried to understand how many jobs were lost permanently, how many people got pushed into poverty, and how many died in the lines and may have been forced to take their lives. 7/n
8. Finally, remind them about Narendra Modi's tears when he asked for 50 days time to show DM was a successful, and if it did not....#DemonetisationDisaster n/n
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