Despite the long queues at ATMs and the rising tempers, the government’s internal assessment is that the “economic gamble” that it took by invalidating currency notes of Rs 500 and Rs 1,000 will pay off. “The value of the Indian rupee will go up as a result of this exercise. When asked about the primary aim of the exercise, the source said, “India is country of 120 crore plus people. When the design for the new Rs 500 and Rs 2,000 notes was being debated, there was consensus about using a picture of the Red Fort on the notes. A source in the government explained, “The Indian tricolour flying over Red Fort symbolises the nation’s strength and power.

Source: Indian Express November 12, 2016 19:41 UTC