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Showing posts from November, 2016

Good intention but poor thinking - what troubles demonetization?

Good intention but poor thinking - what troubles demonetization? Prime Minister’s surprising demonetization experiment has rich credibility and shows his commitment towards black money fight. People have extended tremendous support as well and are ready to bear further for the success of the programme. At the same time, the programme has exposed some serious and unbelievably low quality thinking at the top level when comes to practical implementation. At the end of the first few day’s experiment, the demonetization is going on but the opposite process of monetization is facing tremendous difficulties. The inability to grasp relative importance of the most sought currencies – Rs 500 and Rs 1000 and to design and print them new in advance is a major failure. Following are some of the defects at the implementation levels. Mistake 1: Rs 2000 notes can’t fill the transaction needs of this billion plus economy along with too smaller denominations. The mistake of replacing the