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How to fix the economy (lemmy.world)
submitted 2 weeks ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works
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[-] emergencyfood@sh.itjust.works 1 points 1 week 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.

this post was submitted on 08 Feb 2025
465 points (96.6% liked)

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