At the wake of Demonetization, honorable Prime Minister of India Narendra Modi had said, it is “Mahayagna” against corruption. But today we realize why Manmohan Singh had said, “Demonetization is monumental mismanagement.” It was his years of experience that made him state so. We are still sailing in the corrupted air of our Government’s economic and socially obtrusive schemes. The dreams and promises that were shown over the deaths of 80 people are showing its failed teeth as GDP dipped to 5.7 percent from 7.9 percent.
As per the media reports, Prime Minister’s promise of transfer of Black Money hoardings to the Reserve Bank for recapitalizing India’s struggling banks least happened. Latest reports found, 15.28 trillion rupees (($239 billion) value of canceled notes had been deposited or exchanged for new money. This proved as nothing but “Nifty Decomposition of demonetization”.
India‘s black market is propelling dynamically. Dye hard men and women are still chunking out cash from their pockets to pay bribes to these so called “Babus” of the Government run machinery and that too when Arun Jaitley had remarked, “Integrity and ethical conduct are prerequisites for the country’s development”. It was BJPs sounds of rhetoric tactic that unleashed the people’s taste for corruption free economy in the form of Demonetization.
In fact Prime Ministers claim that demonetization would curtail the Naxal problems and terrorist activities but the result has been quite a contrary. So many terrorist activities are happenings and our soldiers are sacrificing their lives.
Had Demonetization posed any impact on Baba Ram Rahim’s wealth though he could be ruled out as he was exempted from tax, but what about commercial activities he had been undertaking, and movies he was producing? Can we rule out his nefarious activities and of all the other so called our Param Pittas accumulated wealth?
Wade Shepard ironically summed up the effect of Demonetization in Forbes dated Jan 3, 2017, he gave the example of a man who pumped out water from the ponds to get the crocodiles out. “Small fishes which were living in the water had problem in breathing in 85% reduced water but were happy as they were sure that he would get the crocodiles out, and with the new rain cycle, they would live happily ever after. The crocodiles, however, are comfortable living on the land and are waiting for the next rain cycle”.
Now, who is going to narrate this news to the fish? Not this honest man who despite his honesty refused to accept his prior mistakes and now planning to burn the trees to eradicate the bat flu”. Modi’s intentions are not bad but what to say of the man who with his intention to save the fishes saved the crocodiles by pumping water out of the pond.
But at least in this flip flops and contriving formulations, he brought a chunk of the population in his digital economic grid. Besides, he is coaxing people for linking Adhara Card with bank accounts with a bid to bring people into the tax bracket, but at the cost of privacy issue.
There had been numerous back lashes against the honorable Prime Minister because of demonetization, but Modi is still optimistic. He claims that due to Demonetization, 8 lakh accounts have come under scrutiny, several other accounts are under investigation, many more suspected accounts have been identified, undisclosed income have been detected and there is 21 percent reduction in currency circulation.
But Prime Minister Sir our question is can’t these targets have been achieved without demonetization? Why wasted crores of rupees by taking this step when the same result could have been achieved without taking this step?
Manmohan Singh intelligence appeared articulately from his silence experience which is not heard by many. You can laugh at Manmohan Singh for his statement but it would be last laugh as economy is coming down, what to expect more?