Demonetisation of Modi Govt. - Right Move ?
In the interest of one and all...!
My dear Countrymen!
Based on our experiences we personally have had till date and also as per the experts ' opinions from India and abroad both, it is very hard to believe for a common man whether Govt. is really keen to clean up the systems by curbing the black money, unearthing the fake currency from the economy thereby curbing corruption and terror funding , or it's merely an eye- wash to divert the people's attention from its failures in fulfilling the promises made during 2014 General Election.
From the very first day ( 9th Nov' 2016 ) chaos started in whole of India, everyone was put to unnecessary trouble by standing in long Q before Bank/ ATMs since morning to deposit/withdraw and to collect the new currency with no hope to enter the bank and even if somehow entered, there is no possibility of job being done due to lot of confusion, conditions and restrictions there .Very surprisingly, Bankers were treating their own customers as strangers, may be due to their genuine compulsions, workload, shortages of the fund and also due to frequent amendments/ notifications every second day from RBI and FM. People were in a state of great fear and confusion, whom to believe RBI, FM Or PM? , as there were no similarities in their statements.
Situations still the same, not only most of the ATMs were empty and useless, abruptly half closed having no cash. Very shockingly, nearing completion of 50 days deadline, the SBI Bank ( on 28th Dec SBI - Dwarka Sec 12 B branch, New Delhi ) also refused payments as having no cash, rarely heard of, And same situations prevail almost all parts of India barring a few.If so is the case in Delhi, it will take minimum 06 months to come to pre - demonetisation days.
It's a fact that everyone is very badly affected in these 50 days particularly those who deals in cash only. Business big Or small all over the country suffered very badly due to one reason or other. It's a different matter whether one admits it openly Or not.
People are at a loss to understand, what was the terrible hurry in announcing demonetisation and in the meantime taking and implementing digital to cashless economy simultaneously very vigorously without any planning, discussions, due homework and infrastructure needed for a smooth transition with complete secrecy and security. In a country like India where 90% financial transactions conducted in CASH, 85% workers are paid in CASH and more than half of population is UNBANKED. Our PM, who is a grass root leader, must be aware of these facts before launching such unfeasible schemes suddenly at all India level. Of course! It is possible but by degrees only and that too in a phased manner. Already we have had debit/credit card systems and online options for payments since long. Therefore, these forced impositions are unwelcome and hence avoided.
Also, Our Govt. must be aware that developed countries like Japan and America are not fully cashless yet but only 14 % and 45% respectively.
Everyone knows there is enormous black money in existence and it is the govt. prerogative to deal with it in its own ways on the war footing but the recent measure is halfway measure and hence not a permanent solution. On the contrary, corruption might further increase manifold as already up now than before.
People would have been happier and extended their helping hand gladly had Mr. Modi preferred to do first the following if he is really serious to tackle Black money/ fake currency/ corruption and terror funding issues:
1) Implement the policy of minimum possible tax, enabling everyone to pay tax voluntarily.
2)Build - up the infrastructure required to filter and unearthed the black money from the systems from spreading regularly.
3)He should first initiate action against listed 646 anti - national offenders who have illegally stashed away black money in the foreign bank.
4) Should take real punishable action against wilful defaulters.
5) Instead of troubling the poor common man, start catching big fishes and target super-rich.
6) He should start working on pending reforms like Electoral Reforms, Police Reforms, Judicial Reforms ........etc.
2)Build - up the infrastructure required to filter and unearthed the black money from the systems from spreading regularly.
3)He should first initiate action against listed 646 anti - national offenders who have illegally stashed away black money in the foreign bank.
4) Should take real punishable action against wilful defaulters.
5) Instead of troubling the poor common man, start catching big fishes and target super-rich.
6) He should start working on pending reforms like Electoral Reforms, Police Reforms, Judicial Reforms ........etc.
While going through a hard time there were something strange happened among us as per following:
1) The great fraternity was shown by neighborhood shops supplying rations and all items of daily needs on credit.
2) Neighbours without acquainted with offered all sorts of help including petty cash to meet immediate urgency.
3) Untouched friends also rang up with help in cash and kind both to meet any emergency.
4)very strangely, people learned to manage with little cash.
5) people are now inclined to try other payments options.
6) people used connections in the bank in their own interests and vice versa.
7) Agents were having heydays to exchange the old notes for new ones with commissions.....etc.
8) Resourceful people having surplus money generally not seen in the Q for banking transactions but widely misused unemployed youth in their place against petty expenses and also misused their employees to deposit cash in their ( Employees) account as per the bumper deposit in Jan Dhan accounts as published in the newspaper.
Finally, it is very difficult to conclude whether this adventure of Modi Govt.is a right step Or wrong step. Only time will tell how far Modi Govt. succeeded in their attempt to eradicate corruption and black money from the economy? Hardly anyone is questioning demonetisation as a principle but no doubt, very poorly implemented and at what cost is the million dollars question? I am afraid! Lest it proves the popular maxim as true, " penny wise pound foolish ". As far as common man's opinion is concerned, he speaks only once in five yrs, during Election and that will be known with the forthcoming Election results.
Also, this is not the maiden venture but already taken place twice before in 1946 and 1978 respectively with more Or less same aims and overall having the same impact in society but the life of a common man not at all shattered like in these 50 days ( 9th Nov to 30th Dec ) of the year 2016.
At last, PM must keep in mind that it is the common man who has empowered him to rule/govern over them, lest it may prove counterproductive. Since the deadline of 50 days, our PM sought for, is over, it will be very interesting to see the move of divided opposition parties under the unusual typical situation.
JAI HIND!
Writer (Sinha.P.K a member, AAP) is an amateur and views are strictly personal. Feedback / Criticism welcome at Email -pkmsinha@gmail.com or follow @ pkmsinha.blogspot.in]
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