Demonetization was one of the greatest exogenous disturbances which shocked and surprised the nation and also the world .After the initial euphoria, and praise , the scene changed . Sensing that his foolish measure ,was causing
maximum inconvenience and the arrival of ew notes were taking time,and
virtually there was no viable solution in sight PM Modi appealed to the people
:
Give me 50 days time to restore the normalcy I will
catch the black money ,bear short term pain
for long term pain .Like soldiers
in the army front ,you show your solidarity and stand by me .
Did he tell the truth?No Even if Nasik press worked
non stop it would take months to print ythat massive amount which was printed
over a period of 15 years .
Again he fooled them by saying that the black money
holders became jittery and nervous and they will lose sleep.what a cruel way of
wounding the finer sensibilities of the ordinary people who had surrendered
their life time wealth held in cash..
It was obvious and apparent that it is only the
poor who lost the sleep and not the crooks .Again it is the poor who stood in
the serpentine queue and a few of them lost their life .The pain was not short
term but persisted for long and eventually proved to be lasting pain.The daily
wage earners and those who worked in small
and medium enterprises ,lost their
job and income ,due to acute cash and credit crunch.
The supreme court feared revolt and riots and
blasted the government for unleashing this measure without adequate preparation
.
RBI could not make the PM to listen to reason .The
FM also proved to be a very insensitive man and a great
disaster.Former BJP leader termed this
measure as an unmitigated disaster .
Once the RBI let the cat out of the bag that 99.3 %
of the demonetized notes were returned, the narratives on demo has
changed and the FM came with a new
explanation that the objective was not properly understood by the critics ;it
was basically meant for transforming the largely non tax compliant country into
the tax compliant nation and also make the nation cashless….yes the ordinary
masses became cashless, jobless, and the economy became growth less and poor
are clueless when the leader will announce the names of the offenders keeping
huge fortune in Swiss banks .The stated objectives were hardly realized
and for the economic sin he committed
,will people remove him from the seat or the supreme will conspire to help him;
it will be known in a matter of few months .
.
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