Prime Minister Narendra Modi’s surprise announcement on demonetisation of high denomination Rs. 500 and Rs. 1,000 notes has a background in the Baba Ramdev-led anti-corruption movement of 2012.
Baba Ramdev had, at that time, prescribed that these notes should be discontinued.
“When 80 crore of our people get only Rs. 20 per day what is the need for these high denominations,” said a statement attributed to him on his website.
He said smaller notes would be more cumbersome to cart and would curb high value, below the table transactions.
On Tuesday, he tweeted his praise of the government’s move to follow his prescription.
“My felicitations to the government for making this move, it will stop black money and corruption,” he said.
He has also advocated death penalty to those found guilty of corruption.
With one piece of advise having fallen to receptive ears, Baba Ramdev seems to have left his mark on monetary policy, not just the yoga mat.
