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India: Thousands Protest Prime Minister’s Monetary Devaluation

HeadlineNov 29, 2016

In India, thousands of people protested Monday against Indian Prime Minister Narendra Modi’s recent decision to pull 500- and 1,000-rupee notes out of circulation overnight, causing havoc for hundreds of millions of people whose savings are entirely in cash. The move affected more 80 percent of the country’s money supply and led to massive lines at ATMs and widespread economic hardship. This is Arun Gupta, leader of a regional party.

Arun Gupta: “We have blocked the rail tracks here and burned an effigy of Narendra Modi in protest against his move to withdraw 1,000- and 500-rupee bills which has caused great inconvenience to the poor, including farmers, and those who have weddings lined up. If they don’t roll back their decision, then we will continue our agitation.”

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