Free Press Journal

Remonetisation is Swamy’s solution to demonetisation


New Delhi : Senior BJP MP Subramanian Swamy (77), a PhD in economics from Harvard University, has his own prescription for resolving the nation-wide hardships caused by the demonetisation of Rs 500 and Rs 1,000 currency notes.

He recommends remonetisation for the success of the demonetisation. In a tweet on Wednesday, he said: “The lesson to learn is this: Demonetisation plan needs to be coupled with a contingency Remonetisation Plan to be fully effective.”

Dr Swamy did not elaborate, but in another tweet he indicated that it will otherwise take three years to print the new currency.

He calls it the government’s “contingency plan failure” in not visualising the need for the new currency.

The Tweet says: “Contingency Plan Failure: Out of 90 plus billion currency notes, 86% demonetised. Thus 77 billion printed at 26 billion/yr capacity=3 yrs.”