What went wrong with recent demonetization drive in India ?

  1. They thought that the GENERAL PUBLIC of India is honest & will 100 % cooperate.But 90% of Indians are corrupt &  do corruption whenever & wherever they get a chance of making money.
  2. The  sector which had the biggest responsibility of making it successful wasBanking sector.But they did money laundering on a large scale .That is why we see reports of obtaining Lakhs of rupees in new currency.
  3. Income -Tax department is one of the most corrupted department in India & they are entrusted by government to catch Black Money holders.But I am sure they will make tons of cash themselves.
  4. Strategy of carrying out this massive drive was improper.Without proper arrangements it created/is creating havoc, panic & chaos on large scale.Proper plans for re-calibrating ATM’s swiftly should have been envisaged in advance.
  5. The timing of this decision is worst .This is the session of marriages & most importantly the time when farmer buy new seeds and sow them . Both of them are drastically effected.
  6. You can’t say that it is a complete failure.I will say it is 50–50. It will also have many long term benefits.Benefits  will be taken  in a separate post.
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