Prime Minister Narendra Modi-led NDA government demonetised high value currency notes in November 2016, and among other things it was aimed to bring down the scale of fake notes in the system.
The sudden move that had brought the nation down to its knees, and which was later described by the then Chief Economic Advisor Arvind Subramanian as a “draconian shock that hurt GDP growth”, was widely publicised by the ruling government as a move to curb the circulation of fake notes.
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ANI