Many say that the decision of Demonetization announced by Prime Minister Narendra Modi is Nation’s Best Guarded Secret in the independent India. And then, there are allegations that Modi government had leaked the information to some of their close aides so that they can convert the Black Money without any hassles.
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Interestingly, months before the Demonetization during February and March, the state governments of Haryana and Madhya Pradesh had approached the National Institute of Public Finance and Policy (NIPFP) to evaluate the effect of withdrawal of high denomination Notes.
Interestingly both the state governments are BJP governments and the work on the research commenced around July but then the complete report could not be submitted by the time the Center announced the decision of Demonetization. This came as a weapon in the hands of the opposition who say the decision is revealed to some within BJP.
All the state governments faced the brunt of Demonetization as the incomes tumbled big time with the economic activity coming to a virtual halt post the ban on the big denomination notes. The state governments are looking at the center to reimburse the loses.
