One year after demonetization
1. All cash back in bank – ploy of catching black by draining currency falls flat
Now only some IT raids drama are happening, against political opponents of BJP while its allies go scot free.
Example : Sasikala clan of ADMK face IT raids and news splashed in media. OPS, EPS, Sekar Reddy, Vijayabaskar who are masterminds behind RK Nagar cash, Container cash, and dozens of other scams are in the pockets of BJP and Modi.
2. Value of new cash is Rs 15 lakh crore and it is increasing and will soon reach the November 2016 level of ₹17 lakh crore – hope of pushing people into digital economy is in ruins.
People who deal in cash will continue to do so, irrespective of whether Modi government and the finance companies want them to switch to e-cash.
This leads us to the next point.
3. Do you feel you have less money going around and coming in your way (especially business men, independent professionals and small traders)
The government persisting with lower amount of cash that required for the economy is one of the reasons for lower demand and lower growth.