Скачать или смотреть Demonetization Explained: The Real Reasons Behind Modi’s Shocking Move

#cashless #upi #terrorism #india #namo #narendramodi #demonetization #bank #Bharath

In this video, I explained what demonetization is, why the Indian government decided to demonetize Rs. 500 and Rs. 1000 notes in 2016, and what were the impacts and outcomes of this move.

The objectives and outcomes of the demonetization scheme in 2016 were:

To plug financing to terrorists.
To help unearth black money.
The unearthed black money will expand the fiscal space of the government.
To help reduce interest rates in the banking system
To help formalize India’s informal economy.
It will reduce the extent of cash transactions and help in the creation of a less-cash economy.
The government also offered several incentives to induce people to use digital transactions².

The announcement of demonetization was followed by prolonged cash shortages in the weeks that followed, which created significant disruption throughout the economy³. People seeking to exchange their banknotes had to stand in lengthy queues, and several deaths were linked to the rush to exchange cash⁴. According to a 2018 report from the Reserve Bank of India ₹15.3 lakh crore (15.3 trillion rupees on the short scale) of the ₹15.41 lakh crore in demonetised bank notes, or approximately 99.3%, were deposited in banks, leading analysts to state that the effort had failed to remove black money from the economy⁵⁶. The BSE SENSEX and NIFTY 50 stock indices fell over 6 percent on the day after the announcement⁷. The move reduced the country's industrial production and its GDP growth rate⁸. It is estimated that 1.5 million jobs were lost⁹. The move also saw a significant increase in digital and cashless transactions throughout the country[^10^].

Initially, the move received support from some central bankers as well as from some international commentators. The move was also criticised as poorly planned and unfair, and was met with protests, litigation, and strikes against the government in several places across India. Debates also took place concerning the move in both houses of Parliament¹¹¹² .

In this video, I will go deeper into each of these aspects and provide you with more data and analysis. I will also share some tips and tricks on how to create engaging and informative YouTube content that can attract more viewers and subscribers.

If you are interested in learning more about demonetization and YouTube content creation, please watch this video till the end and don't forget to like, share, comment, and subscribe.

Thank you for watching and stay tuned for more videos.

Source: Conversation with Bing, 7/31/2023
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