Modi’s move with demonetization has failed miserably and Indians are not happy with the failure of the scheme.
American media is making fun of Modi’s demonetization scheme. They say that this ban of Rs 500 and Rs 1000 notes makes no sense. In an interview, an Indian interviewer asks an American economist questions on the demonetization.
When the interviewer says that demonetization is to suck up the black money from the economy of India, the American says that it will only suspend the corruption but it won’t stop it and it will come back again within small amount of time.
He suggests that such moves should not be done without a warning and the government should not frighten the public. “It took several years to design the 20 dollar bill. The people have a right to know what is happening with their money.” he said. He also said that its not worth to frighten all the people just to catch some people with black money.
“The government gave sometime to exchange the notes, so they are still vaild until then. So the government successfully managed to do is to panic people.” he said summing up the interview.