Read: Demonetisation a big scam, surgical strike on poor: Kejriwal demands rollbackWhat then explains his gamble? To see the political rationale behind Modi’s demonetisation move, we need to understand the social re-engineering of the BJP in recent times. Once known as an upper-caste, Brahmin-Bania party, Modi’s BJP today is socially much diversified and nurtures ambitions of being a national party with credible influence across all social groups, especially those dominating the electoral arithmetic. In opting for demonetisation, Modi has done just that. With big business and the super-rich firmly on his side, Modi does not need funds from traders and contractors to run his party.

Source: Hindustan Times November 13, 2016 01:22 UTC