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India's Markets Hinge on History's Largest Exercise in Democracy

Alex Frew McMillan

The largest democratic exercise in history is officially under way in India, with 900 million potential voters heading to the polls. The opinion polls missed the exceptional surge in popularity of incumbent Prime Minister Narendra Modi in the last election, with Modi's party in 2014 becoming the first in 30 years to claim an outright majority. Oh, and his central bank basically abolished all the money! In 2016, 86% of all notes were declared worthless in a bid to drive India's cash-driven society above board and online.