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India Cash Ban Disruptive But Won’t Harm Modi’s Election Chances

  • Move to invalidate currency has hit growth, led to layoffs
  • Poor supportive of policy they see as attacking corrupt, rich
Bloomberg business news

Why India's Cash Ban May Not Hurt Modi in Election

Indian Prime Minister Narendra Modi’s disruptive cash ban is unlikely to damage his party’s performance in upcoming state polls. In fact, it might even help.

Modi’s move to invalidate 86 percent of circulated currency in Asia’s third-largest economy forced millions of Indians into lengthy bank queues. It has also dented India’s world-beating growth as the country’s cash-dependent economy stalled.