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How to fix the economy (lemmy.world)

submitted 4 months ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works

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[–] emergencyfood@sh.itjust.works 1 points 4 months ago

Do you mean the 2016 demonetisation? It was allegedly aimed at reducing counterfeit notes, and involved removing the largest value notes in circulation and replacing them with new notes at a 1:1 exchange. It failed to stop counterfeiting, and resulted in at least 80 deaths, 15 lakh job losses and a measurable fall in GDP growth.