AGARTALA, Nov 25 (TIWN): Demonetization’s 3rd anniversary brought more horrifying data about Indian Economy under Modi Govt, whereas Tripura BJP Minister, who ahead of Assembly Election 2018 joined BJP from Congress Ratanlal Nath claimed that India is in 4th position in the economy right now. “Earlier, India was behind 9 countries but now after US, China , Japan, Germany, India is standing in the row”, claimed Ratanlal Nath while addressing in a programme at Belonia, South Tripura, however, was trolled in social media for bogus data. Now, let review the actual condition of India since Prime Minister Narendra Modi made a surprise announcement before 3 years to invalidate old Rs 500 and Rs 1,000 notes. The decision had wiped out 86 per cent of the total currency from circulation. Three years down the line, India's economy has seen a lot of turbulence with GDP growth going down to six-year-low, fiscal deficit growing significantly, and various sectors, including auto and manufacturing, facing crises.

When Prime Minister Narendra Modi announced demonetisation on November 8, 2016, the exercise was aimed at primarily at cracking down on black money hoarders, eliminating fake currency, curbing terror funding and ultimately making the economy more transparent.

The goalpost was again adjusted by the government a few months later when it said demonetisation was the first step towards making India a "cashless economy".

CASHLESS TO LESS-CASH

The cashless economy model found success as digital payment companies like Paytm, a leader among digital payments players, raked in billions in revenue from operations and registered well over 100 per cent growth.

Though digital payments helped a chunk of the urban population in India battle restrictions on cash withdrawal, it hardly made any difference to those living in remote areas with poor internet connectivity and no knowledge of how digital payments worked.

Though later, the goal of note bandi again shifted and many leaders from the ruling party said the purpose of demonetisation was to achieve a 'less-cash economy'.

While digital payments have become a crucial part of daily life for India's thriving urban population, a deeper dive into rural areas and scores of ground reports indicate that it still remains a less-explored segment in India's rural belts.

Tripura’s Unemployment

BJP Govt before voted to power in Tripura promised in written document that it will give 50000 govt jobs within one year of the Govt formation but the Govt only could gave around 1400 jobs reportedly along with thousands of terminations. However, State Govt has motivated entrepreneurship and invited investors with the slash of corporate taxes. Tripura Govt also started single window system for ease in business and loans were sanctioned at a huge number to youths who chose to be job creators. 

19% increase in unemployment rate in Tripura under BJP Govt has been reported by CMIE data.

Whereas under Manik Sarkar Govt it was only 8.5%, now under Biplab Deb it went at 27.2%

Tripura's unemployment graph from 2017-2019 (a monthly comparison)
October, 2017 (Left Govt ): 8.5 % unemployment
October, 2018 (BJP Govt) : 32. 4 % unemployment
October, 2019 (BJP Govt) : 27.2 % unemployment.

TET Qualified persons over thousands remained jobless but Education Dept is in slumber to recruit them.