Before demonetisation and soon after the most controversial economic decision in Independent India, Prime Minister Narendra Modi was the unparalleled leader on the Indian political scene.

But by the time of its first anniversary on November eight this week, Rahul Gandhi has started emerging as the challenger with the virtually down and out Congress in a ‘take off’ mode and the fear and awe of Modi has drastically come down for the opposition. This, in a nutshell, is the political fallout of demonetisation notwithstanding the claims of the BJP that it has been a masterstroke by ...

Disclaimer: Views expressed are personal. They do not reflect the view/s of Business Standard.