Here’s how Modi kept his master plan to flush out black money, introduce new currency under wraps

Prime Minister demonitised Rs 500 and Rs 1,000 notes and it was a secret kept well. In his address to the nation, Modi said work on having new currency notes and clamping down on black money had started six months back and the entire operation was kept top secret.

Modi government told the RBI to be all set for this bold move on black money, around six months ago. Before that, Modi had made the decision to phase out the current Rs 500 and Rs 1,000 notes.

Modi made it a point that nobody gets to know about it, not even his own Cabinet as replacing 23 billion currency notes was going to be a gargantuan task.

Modi sought to stop the transaction of black money with the aim of giving the economy a veritable leg-up. He knew if the move was a success, people would be compelled to use only legitimate transaction networks, which would automatically make the government's tax kitty bigger.

As per the reports, officials that were involved in the demonetisation process were quarantined and notification on the move was printed in secrecy in the same press where the Union Budget papers were printed. The Cabinet members weren’t allowed to leave the room until the Prime Minister ended the address.

Given the context of the crucial upcoming assembly elections in Uttar Pradesh, the move is aimed at giving BJP a "strong talking point, about "a decisive government,. Further, the ban on high-denomination notes is likely to have an impact on election expenditure in UP.

Coming ahead of assembly elections in UP, the move is also likely to provide another campaign pitch for BJP.