Modi's Demonetization: the most foolish act for which the PM should apologize and resign?

 Demonetization was thrown on innocent Indian people on 8th November 2016 by an unknowledgeable PM who had come to power not for people welfare but to satisfy his false inflated egos and take revenge on those who took the country to the forefront in the first place. It is rather sad that the public of India including the educated class are so waylaid that they have stopped to think at any intellectual level. But if we look back, Modi's demonetization has been the biggest failure of centuries and in world history. It was an action taken with no thought. Economists have always argued against it but what can one tell a person whose birth, childhood, and educational qualifications are all spurious and suspicious?

So the ultimate result of demonetization can be summed up thus:

"Those who were supposed to be affected by it benefitted and the poor innocent people who should not have suffered due to it lost completely."

It cost the nation 10 lakh crores loss. Who is responsible for it? Is there any accountability there? Is there any sense of shame there? None, it seems. 

If there are any substantial number of intellectuals in that country, they should by now have decided to throw this PM out? But provided there are.

Expert's say

Professor Arun Kumar, the Malcolm Adiseshiah Chair Professor at the Institute of Social Sciences criticizes:

"None of the goals set out by the prime minister in his speech on November 8, 2016, have been achieved." 

He adds:

"The unorganised sector contributes 45% of India's GDP and employs 94% of the workforce.

That means if you hit the unorganised sector, you are hitting most of the workers and a large part of the output in the economy.

Demonetisation hit the organised sector too, but the unorganised sector got hit much more."

Professor Arun explains that the unorganized sector did not recover still because after it came GST and then the corona pandemic. 

Shashi Tharoor, Congress MP from Kerala has dubbed Modi's act as foolish and whimsical. Shashi is absolutely right. 

Neither did demonetization impact the black economy. Nor did it stop counterfeit currency and nor did it stop terrorist activities. It remains the most foolish act that any PM could do. It is a monumental blunder for which the PM should apologize and resign. But will a power-crazy man do so? Of course not. 

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