Re:Why India wiped out 86% of its cash overnight
by superasn on Monday November 14, 2016 @03:41PM
(#12953145)
A lot of news site are completely missing the fact that one of the biggest reasons it was announced right now was to give BJP (modi's party) an upper hand in upcoming Uttar pradesh elections.
Not many people know this but it quite common for political parties to distribute huge amounts of cash to voters beforehand elections to buy their votes (think trucks literally filled with 500 rs notes). Last time before UP elections there was a huge drive and a lot of cash was seized while crossing the Delhi-UP border just before the elections. This time it was a masterstroke by Modi and now wonder both the biggest parties in UP are worst hit and complaining the most about it (i.e.Mayawati and Mulayam singh).
Not many people know this but it quite common for political parties to distribute huge amounts of cash to voters beforehand elections to buy their votes (think trucks literally filled with 500 rs notes). Last time before UP elections there was a huge drive and a lot of cash was seized while crossing the Delhi-UP border just before the elections. This time it was a masterstroke by Modi and now wonder both the biggest parties in UP are worst hit and complaining the most about it (i.e.Mayawati and Mulayam singh).