• Date- 8th November 2016
• Time- 8pm
• In charge- PM Narendra Modi
• ₹500 & ₹1000 notes’ were banned.
• New notes of ₹500 and ₹2000 were introduced.
• India as a part of BRICS- its contribution to the world economy (relating to the fact that our country has almost one-fifth of the world’s population)
• How consumption has decreased.
• 86% of the currency in cash being pulled out, almost equal to 15 lakh crore.
• Huge experiment/ gamble by the govt.
•India consists of One fifth of the world’s population!
• Two P’s- poverty and population
• No riots/protests
-90% of the population is poor
• PM Modi being compared to Tuglaq- Reasons (history of the ruler)
• Analysis of India’s population:
- 1% tax payers
- 40% population below 18
- Uneven distribution of World’s wealth
- Fastest growing large economy of the world
• shortcut to judge the economy- D,D,I,I,F
•Excess supply, no demand (demand decreased for gold,silver,gem,jewellery,real estate,restaurants,disco,pub)
•Demand for inferior goods like bidi, street food, local quality goods increased.
•Unemployment level increased.
•Barter system or Cashless society.