Why this is the time to demonetise 2000 notes?

May 28 2023

There were already speculations that Rs 2,000 note would be hit by demonetisation, because the government’s press had stopped printing these notes a long time ago, and its circulation was also limited to large transactions. But as soon as the results of the Karnataka elections came and the saffron fort collapsed there, the government took this big decision in a hurry. These notes are to be deposited in banks by 30 September 2023 and just two months after that, assembly elections are to be held in five states i.e. Chhattisgarh, Madhya Pradesh, Rajasthan, Telangana and Mizoram. Look carefully, except one Madhya Pradesh, there are opposition governments in all the other four states. So, it is certain that once the Rs 2,000 note is banned, the fund management of the opposition parties may collapse, as for the BJP, it has the biggest stock of ‘Electoral Bonds’. When demonetisation was announced for the first time in November 2016, assembly elections were to be held in the five states of UP, Punjab, Uttarakhand, Goa and Manipur in the very next year i.e. 2017. Now only after a year i.e. in 2024, general elections are also to be held in the country.

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