*MONETARY policy, *FINANCIAL policy, *INDIAN rupee, *TWENTY-first century, INDIAN economic policy
Abstract
The article discusses India's monetary reforms and their impact on the country's economy and institutions. Topics discussed include Prime Minister Narendra Modi's withdrawal of several rupee notes from the market, the objective of Modi's demonetisation policy, the option for the Reserve Bank of India to create new currency liabilities.
The article talks about Indian political party Bharatiya Janata Party's (BJP's) stunning win in the 2017 elections in the state of Uttar Pradesh. It discusses how this win revived Indian Prime Minister Narendra Modi's losing momentum due to pressure from rival parties and his demonetization attempt to scrap India's paper currency. It also discusses BJP's win in three other states and the efforts of a member of the Hindu volunteer group Rashtriya Swayamsevak Sangh which led to BJP's success.
Published
2017
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