According to a few media reports, the government of India has stopped the printing of new Rs 2000 notes with the motive of gradually stopping their circulation. The reports further mentioned that the government took this decision because they suspected that Rs 2000 note was being used for money laundering, hoarding, and tax evasion.
Rs 2000 note was introduced in Nov 2016 for the first time after demonetisation. As of now, the total currency in circulation is Rs 18.03 trillion, out of which Rs 6.73 trillion are Rs 2,000 notes.
Modi government was heavily criticised for the introduction of Rs 2000 note. It was criticised because it went against one of the core purposes of demonetisation, which was to stop the hoarding of black money using high denomination notes.
After the news broke out, Twitterati got divided into two groups. One group was as always supporting PM Modi while other was criticizing this decision of the government. Take a read at the comments of the people who were criticizing it:
Modi Sarkar is waking up to its blunders after losing 5 state elections
1st, we saw the reversal of Gabbar Singh Tax
Now, another U-turn by stopping the printing of the 2000 rupee note
If you can’t run a govt, please leave it to those with experience https://t.co/ZXgPo1CHT4
— Rajeev Gowda (@rajeevgowda) 3 January 2019
Sigh. So sad. The Rs 2000 note is going? What about the chip technology Modiji had brought to send signals to satellites so that we can find out where black money is hidden? Darn darn darn.
— Salil Tripathi (@saliltripathi) 3 January 2019
every Indian predicted 2000/- will be used to hoard money in lesser sq feets area. but our financial mavens of @BJP4India have some other thoughts in mind . Now they will ban 2000/- note . #DemonetisationDisaster is a good case study of Economic disaster
— Mannnn (@mannu2403) 4 January 2019
First deliberately create problem then try to solve it…
Q’s is why they did create problem(demonestiation) and what they acheived by doing so…
And most important where is black money & chip inside ₹2000 note
— Devv N. kumar (@Devv_Nkumar) 4 January 2019
Modi govt. continues in its fine tradition of taking ill-informed decisions. Two years after the introduction of the Rs 2000 note, the Modi Govt backtracks in an effort to stop hoarding black money. https://t.co/MnV1Jfk9Jm https://t.co/VZV4cio95t
— Congress (@INCIndia) 3 January 2019
👉To fight black money introduced new 2000 Notes With Nano GPS Chip.
👉More than ₹8000 Cr was spent to print
👉Realised that Rs 2000 notes being used for tax evasion, hoarding and money laundering.
👉Now RBI scales down printing of Rs 2000 note to minimum.#BJP_भगाओ_देश_बचाओ pic.twitter.com/MWRN7vXFGf
— anupam chowdhury⚽️ (@anupamkanu) 4 January 2019
Now take a look at the comments of those who are supporting the decision of government:
why is it so difficult for you to understand that 2000 rupee note was used for the fast circulation of notes during #demonetisation ?🙄
— ~Amit~ (@LovAmit) 3 January 2019
2000 Rs. Note was transitory & was introduced to reduce shortfall of cash in circulation. Problem is most people do not understand this simple thing
— 360+in 2019 (@TewariAlok) 4 January 2019
A ch*** and ga**** like Rahul Gandhi can’t understand because uske dimag me g* bhara hai. Tum saare congressi m*d*r c**d ho
— Bajrangbali (@smltyagi) 3 January 2019
However, it seems that this news was a false alarm. In a recent development, the Economic Affairs Secretary Subhash Chandra Garg issued a statement putting all the rumors to rest. He said:
“We have more than adequate notes of Rs 2,000 in the system. Over 35 percent of notes by value in circulation of Rs 2,000 denomination.”
He also shared this information on Twitter. Check out his tweet regarding the same:
Printing of notes is planned as per the projected requirement. We have more than adequate notes of Rs 2000 in the system with over 35% of notes by value in circulation being of Rs 2000. There has been no decision regarding 2000 rupee note production recently.
— Subhash Chandra Garg (@SecretaryDEA) 4 January 2019
What do have to say on all this? Tell us in comments.