RBI report on demonetisation: Watch four best HT videos on the issue

Following the RBI report that 99% of demonetised currency is back in the banking system, the Modi government has been once again questioned about the efficacy of the move in curbing black money. Here are four videos from HT archives that you must watch on the issue.

The government on Thursday came out in defence of its demonetisation move, 10 months after Prime Minister Narendra Modi announced a ban on 500 and 1000-rupee notes. The response by the Centre came after Reserve Bank of India data showed that nearly 99% of the banned banknotes have returned to the banking system, prompting the opposition to question the Centre’s claim that demonetisation would curb black money.

Prime Minister had justified his government’s demonetisation move, saying it would eliminate black money. (HT File Photo)

Here are four videos from HT archives that you should watch on the issue.

1.How much black money will burn?

2.Modi says demonetisation timing was right: HT didn’t think so

In his first defence of the demonetization in Parliament, Prime Minister Modi said on Feb 7, 2017, said that recalling high-value banknotes was a right decision made at the right time as the economy was in good health and there was a brief lull in business after the peak festive season.

A week after PM Modi’s announcement, HT had explained why demonetisation was unlikely to help the government suck out black money from the economy.

4.Jaitley hails ‘disruptive demonetisation’ in his Budget speech

In his Budget speech on Feb 1, 2017, Union finance minister Arun Jaitley had said that the demonetization exercise was part of the government’s resolve to eliminate corruption, black money, counterfeit currency and terror funding. However, 10 months later he says that the ban was ‘not only to curb’ black money but also to confiscate illicit cash and bring them into formal channels and tax them.