The logic applied here is between Nov 2016 to Dec 2019, the CIC grown from 17.74 lakh crores to 22.356 lakh crores, ie, an increase of 26.01% in 37 months, which is 8.44% annual growth.
It is given that between Oct 2014 and Oct 2016, the CIC grown at 14.51% annual growth.
So the logic applied is this 14.51% minus 8.44%, and multiply this annual growth reduction for next 37 months after demon.
Looks like a perfect saving of printing of currency notes, though it crushed the economy since the substitute is available only for we city folks.
Modi increased CIC growth in the two years just before DeMon to 14.51% from 10.96%!!!
Hence the so called savings of CIC will become just 1.382 lakh crores instead of 3.0465 lakh crores as claimed by the FM!
Now we should look at the "real savings" of 1.382 lakh crores, which I calculated on the basis of 10.96% annual growth vs present 8.44%!
We should look at the annual growth of currency in circulation between the last one year.
30/11/18 - 19.959 lakh crores
02/12/19 - 22.356 lakh crores
Annual growth is 12.01%!!!!
Cash is the universal fuel to drive our economy where for a brute majority digital options are an opulence and not available.
Once your economy grows to its natural pace, you need more cash, nothing else is yet to substitute it in India
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