Forbes Magazine has come down heavily on demonetisation drive launched in India on November 8th, 2016.
Steve Forbes, the Editor-in-Chief of the reputed magazine, called scrapping of old Rs 500 and Rs 1000 notes amounting to 86% of the total currency in circulation as immoral and theft of people's property. He compared the move with Indira Gandhi Government's forced sterilization drive, meant to deal with country's over-population, during emergency from 1975-77.
The Editor went on to say Demonetisation isn't only hurting the country's economy but also causes distress to millions of poor citizens. 'Demonetisation is a shocking move for a democratically-elected Government. India has unnecessarily harmed its people and set a dreadful example for the rest of the World,' he said.
Forbes opined forcing people towards cashless economy is nothing but attacking privacy and government controlling people's lives. He further said, 'It affects social trust, hurts future investments and poisons politics'.
Steve Forbes, the Editor-in-Chief of the reputed magazine, called scrapping of old Rs 500 and Rs 1000 notes amounting to 86% of the total currency in circulation as immoral and theft of people's property. He compared the move with Indira Gandhi Government's forced sterilization drive, meant to deal with country's over-population, during emergency from 1975-77.
The Editor went on to say Demonetisation isn't only hurting the country's economy but also causes distress to millions of poor citizens. 'Demonetisation is a shocking move for a democratically-elected Government. India has unnecessarily harmed its people and set a dreadful example for the rest of the World,' he said.
Forbes opined forcing people towards cashless economy is nothing but attacking privacy and government controlling people's lives. He further said, 'It affects social trust, hurts future investments and poisons politics'.