Slew of U-Turns Blight Modi’s Cash Ban, Leaving Indians Outraged
- ‘Monumental management failure,’ Modi’s predecessor says
- ‘We can’t live in lu-lu land’: Opposition lawmaker O’Brien
Modi Says Cash Crisis Will Ease
This article is for subscribers only.
Just over two weeks into its biggest fight against tax evasion and graft, India’s regulatory flip-flops are confusing citizens and sparking criticism of the government’s planning.
Prime Minister Narendra Modi’s Nov. 8 decision to invalidate 86 percent of currency in circulation has affected pensioners to tourists in the nation where almost all payments are made in cash and about half the population lacks a bank account. What’s made matters worse, however, is that bureaucrats tasked with the move have reversed rules twice a day on average.