Post-demonetization, the Prime Minister of India, sought the citizenrys response to his governments move to demonetize the old ?500 and ?1000 currency, in an attempt to delete the existence of a parallel economy being run by black money. The team of Jan Ki Baat received a ton of messages responding to Mr Modis request on his Man Ki Baat programme. The messages sung praises for the Modi governemnts decision, commending his governments move of demonetization. The celebratory mood of the people let their feelings be known.
The PM of India, Narendra Modi, announced on the 8th of November, his governments decision to demonetize the higher-denomination currency. The old ?500 and ?1000 notes were banned throughout India from morning of 9th November, with the citizens being allowed to either deposit their old notes in banks or get them exchanged, until the new ?500 and ?2000 notes come out. Such a move intended to renew the economic market place and rid the country of the black money it had accumulated till date.
The effects that demonetization has had on the residents of India have been poles apart, with some calling it a good enough cause to unite Indians and cultivate honesty and others seeing it as anti-poor, anti-middle class policy. The diverse reactions to it need to be recorded to understand the variety of effects financial policies have on different social classes and sections.