For months now, tens of millions of Indians have been scrambling to exchange their old bank notes.
That’s after the government of Narendra Modi, suddenly banned the 1,000 and 500 rupee notes back in November.
It says the decision will help tackle corruption and stop what it calls ‘black money’, or cash gained through illicit means.
In a new year’s message, Prime Minister Modi defended his decision and offered incentives.
But the opposition says the entire campaign has been a failure.
So, what’s behind Modi’s plan and will it help the economy?
Presenter: Richelle Carey
Guests:
Sanjay Hedge – Senior Advocate of India’s Supreme Court
Sreeram Chaulia – Dean of the Jindal School of International Affairs. He is also the author of ” Modi Doctrine”
Reetika Khera – Development Economist at the Indian Institute of Technology.
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