While in my other post, I've shared the cost incurred in printing the 2000 Currency note & draining it in gutter: INR 1335 Crore
But hey, how can I forget the other cost which too should get booked under the head of the Chiefest of the Chief Economist of the Universe that we all treasure & approve of!!! 😇🤯😵💫😖
The cost of earlier currencies which were in Circulation:
▪️ Currency note of Rs.500/- & Rs.1000/-
▪️ Total Currency notes of 500 & 1000 which were in circulation prior to demonitization were 24% of the overall currency i.e. 22.03 Billion tenders in count.
▪️ Cost of printing currency notes of Rs.500/- ranges between Rs. 2.87/- to Rs. 3.09/- per note.
▪️ 99.30% of the currency came back to the Banks. (So almost all were genuine currency notes - Only counterfeit notes worth 43.47 Crore were siezed)
▪️ Considering an average cost of Rs.3/- per currency note the cost involved in Printing Old Rs.500/- & Rs.1000/- notes = 22,30,00,00,000 X 3 = 66,90,00,00,000
So the total cost which got drained / wasted due to the most PRUDENT decision of Chiefest of the Chief Economist of the Universe is equal to
66,90,00,00,000 13356733000 = 80,25,67,33,000 🚽🚽🚽
Thats a meagre, paltry and scanty:
EIGHTY THOUSAND TWENTY FIVE HUNDRED SIXTY SEVEN LAKH ODD CRORES
So the cost of one decision that the Tax Payers of this Nation Paid was 83.25 Bn Rupees!!!
Jai Ho!!! Jai Hind 🇮🇳 🙏
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