Hearing the PM Narendra Modi's speech on November 8 about demonetization of high currency notes for curbing black money in India, it was reckoned that the PM's decision was a morale booster to everyone.
Now that reports were revealed that a big number of BJP's leaders and the supporters of Modi got their properties safely deposited in Indian and foreign banks prior to the demonetization came into force, speculations were rife on Modi's honesty in taking the crucial decision of high currency ban. On the other side, the government failed in curbing black money, which actually was the primary objective of notes ban.
To defend his stand on high currency ban, Modi later revealed that the decision was taken to check fake currency in India. Unfortunately, this reason, cited by Modi, also failed miserably as fake currency is found in every nook and corner. Afterwards, it was said by the Modi and BJP's supporters that the high currency ban was to curb terrorism. Since this reason also appeared not so appealing, the government fell in a complete state of defence saying demonetization was intended for 'Cashless Economy in India'. It remains to be seen what more reasons would be claimed by the BJP's big heads, if cashless economy gets failed.