Azim Premji University’s recent report stated that 5 million jobs have been lost between 2016-18 due to the draconian decision of demonetisation. In the first 4 months after the demonetisation alone, CMIE reported that 1.5 million jobs were lost. This number later increased to 3.5 million. There is enough data and reports to suggest that job losses have occured as a direct impact of demonetisation but PM Modi conviniently choses to ignore it.
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