Shiv Sena Questions Achievements of India's Demonetisation Policy

In 2016, Prime Minister Narendra Modi announced demonetisation, withdrawing the legal tender status of Rs 500 and Rs 1,000 currency notes. The government outlined objectives for the move, including curbing terrorism financing, expanding the tax base, and promoting digital payments. Ten years later, Shiv Sena leader Aaditya Thackeray questioned the achievements of the policy, asking what the country had gained from the move.

The policy was designed to bring the informal economy into the formal sector and promote a less-cash economy. The political questioning of the policy's success relates directly to the fulfillment of these stated economic goals, such as expanding the tax base and employment.