The popular newspaper organization, New York Times heavily criticized Narendra Modi’s currency demonetization. The newspaper said that Modi’s decision lands the poor people in India in total turmoil. NYT again said that it was a poorly thought out and executed plan.

The newspaper further said that PM Modi’s decision to scrap old Rs 500 and 1000 currency notes had thrown the Indian economy into turmoil. By circulating new Rs 500 and Rs 2000 notes, Modi and his government think that it can prevent cash-based corruption and tax evasion. Around 78 percent of Indian transactions are made by using currency. Many people even do not have a bank account or credit card. Many businesses in India do not accept cashless transactions.

New York Times also criticized that the Modi government is not ready to appreciate the extent of the pain the poor people in India suffer due to his thoughtless decision.