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Before demonetisation (November 2016), there were banknotes worth ₹17.97 trillion in the market. The demonetised banknotes constituted 86.4% of it. [67] The banknotes in circulation had reached to the level before demonetisation in March 2018. [86] By March 2018, there were banknotes worth ₹18.03 trillion in the market; an increase of 9.9%.
Talk:2016 Indian banknote demonetisation; Talk:2017 Atlantic hurricane season; Talk:2017 South Asian floods; Talk:2017–2019 eruptions of Mount Agung; Talk:2018 California wildfires; Talk:2018 Sulawesi earthquake and tsunami; Talk:2019 Samoa measles outbreak; Talk:2019 Tonga measles outbreak; Talk:2019 Xiangshui chemical plant explosion
Obverse of the ₹ 2000 banknote between October 2016 – November 2023. It was released by the Reserve Bank of India (RBI) on 8 November 2016 after the demonetisation of ₹500 and ₹1000 banknotes and has been in circulation since 10 November 2016. [2] It is a part of the Mahatma Gandhi New Series of banknotes with a completely new design.
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In January 2020 itself, well before India's lockdown or reactions to the pandemic, the International Monetary Fund reduced India's GDP estimates for 2019 and also reduced the 2020 GDP forecast. [190] The 2016 Indian banknote demonetisation and goods and services tax enactment in 2017 led to severe back to back disruptions in the economy. [190]
Later the government claimed, in court, that no deaths were caused due to the lack of oxygen during the pandemic. [9] After the "Make in India" program was launched by Modi, the share of manufacturing in the Indian GDP has reduced from 16% to 13%. Employment in the manufacturing sector have reduced to half after 2016, from 5.1 crore to 2.7 crore.
10 April – Puttingal temple fire caused 107 deaths. [17] 11 April – 2016 Assam Legislative Assembly election – BJP won the majority. 5 May - 2016 West Bengal Legislative Assembly election – Mamata Banerjee-led TMC won majority. 16 May - 2016 Tamil Nadu Legislative Assembly election- Jayalalithaa-led AIADMK won majority.
As part of the 2016 Indian banknote demonetisation, India introduced a new 2,000-rupee currency note. Following this, multiple fake news reports about "spying technology" added in the banknotes went viral on WhatsApp [75] and had to be dismissed by the government. [76] [better source needed]