DEMONETIZATION

Scrapping of Rs 500 and Rs 1000 rupee notes in a surprise move has hit the following very hard –

-          Kashmir Separatists – Fake notes were rendered useless overnight and the terror funding got killed overnight. There is no stone pelting incidence, school torching incidence after 8^th Nov 16. Otherwise for last more than 100 days everyday there were incidences where in terrorists were creating ruckus. These terrorists were funded by ISI and separatists in fake and black money currencies mostly of 500 rs and 1000 rs note denominations.

-          Maoists and Naxalites – Almost overnight these cash dependent insurgent activities came to standstill.

-          ULFA, BODO – Same as the case of Maoists and Naxalites they are biting the dust.

-          Drug Peddlers and Trafficking are mostly dependent on cash transactions, fake currency and higher denomination notes. They are out of business now.

-          Antinationals and other enemies of Nation dependent upon black money are bewildered and don’t know what to do.

-          Black money hoarders have been caught by surprise though these unscrupulous hoarders are trying every trick to somehow convert black to white but their numbers are less and are at risk to try so.  

-          Political parties’ election funding has got adversely affected and that has prompted large scale demonstrations from them against demonetization although they know that it is good for the nation. When it comes to survival they can go to any extent and oppose it because it causes them inconvenience for funding elections. Therefore Mamta Banerjee of TMC is ready to sit alongside Leftiests. Kejriwal of AAP has gone insane as he has been robbed of his moral high ground against corruption in more than one way. SP and Mayawati of BSP are in the same boat. Congress under Rahul Gandhi doesn’t know what to do. With so many political parties against and so much of short term pain citizens are undergoing, there would have been manufactured riots and arson funded by likes of these parties. Manufacture of arson depends upon large denomination black money notes it is not happening. Otherwise these parties would have gone to any extent. This is one more proof that demonetization has started pinching where it is aimed at.

Many articles in Indian media and International media have started appearing against demonetization and if anyone sees the background of the authors one can easily understand that most of them are from camps of leftists, or parties opposing demonetization for their ulterior motives and Indians (writing for foreign media as their personal opinions – many of them are from JNU a leftist bastion for long). Same is the case with rumors being circulated on whatsapp and other social media. If one studies the authors (and their background) of articles on demonetization very surprising pattern emerges. I cannot tell you more. Reader is intelligent enough. Then there are media reporters who in order to increase TRPs goes berserk in reporting by making tall claims standing alongside ATM queue trying to create panic among the viewers.

The political parties opposing demonetization say that PM should have given two month notice for stopping 1000 rs denomination notes and 6 month notice before taking out 500 rs notes out of circulation. If this would have done by the government then what would have been the reaction of these opposition members and also reaction of stone pelters, black money hoarders and school torchers? Opposition would have said that giving prior notice means allowing black money hoarders to change the currency from black to white as they have one month and six months respectively and enemies of nation would have got alerted and they would have created havoc in these 6 months available to them.

Some say they should have recalibrated the ATMs prior to demonetization – this is euphemized way of saying that demonetization should have been declared at a later date and people should have given time to convert black to white money. As the secrecy would been in jeopardy.

Some say that first Swiss money should have brought in – it is always easy to tackle problems which are more or less under own jurisdiction. Modi had never said that he would put 15 lakhs in each account from swiss money. If one goes by the video available in public domain of his election speech, he said in that speech and I quote “ there are reports that people have stashed money in Swiss accounts. It is a big money and with that money large infrastructure projects for building a prosperous India can be deployed” and to explain the extent of stashed money he gave analogy of it amounting to having 15 lakh rs in every account. Anyone can download the speech which is available in audio video in media.

Some say the inconvenience to the people would result in anger against the government and BJP would buy it in the elections as angry citizens would not vote for them –their reading is wrong. People are happy that PM has taken strong measure against cheaters. They are ready to slug it out. Even if BJP loses in the near future because of short term anger, demonetization would help the nation in getting rid of black money, fake money and terror funding. Therefore the step taken by PM shows the resolve of PM and also shows true colors of Congress, AAP and their likes.

There will be slow down. There will be cash crunch. There will be long queues (have we forgotten standing in all types of long queues for ration, kerosene and other essentials a few years back?). There will be voices against demonetization by vested interests. There will be rumors floating by people who want to show demonetization in poor light. There will be some adverse reactions. BJP may lose some elections. Old adage says there is no gain without pain.

People of India supported Congress for 60 years. What they got. Long lines for rations. License Raj, corruption, nepotism, policy paralysis, and weak governance. People have elected Modi for change. He is in third year of his tenure and he has taken many big time measures encompassing every sphere of life of a common man. Some may yield short term gains but mostly the steps are for long term gains. The exercise for demonetization started long time back. First SIT was instituted for stashed money in foreign accounts. There were various treaties and dialogs with countries to expedite the stashed money information from those countries. It was followed by harsh laws on stashed money and tax havens in the form of making PMLA 2000 act stronger. When all these were happening government started Jan Dhan yojana which resulted in around 25 crore accounts and covering 99% families. Aadhar was used extensively for DBT to the benefit  crores of accounts which reduced the leakages in money flow. This was then followed by asking individuals for IDS and the time limit was given up to 30 Sep 2016. The launderers declared around 65, 000 cr rupees. With the demonetization on 08 Nov it is one of the many measures step by step to be taken to weed out black money laundering and to sniff out terror sponsorship. This is not all. PM has promised that he will crack down on Benami properties. The citizens of India who are law abiding should note that the PM’s decisions were not knee jerk and still surprise element was maintained. They should heave a sigh that at last someone is walking the talk and not just using the clichéd ‘war on black money’ for usurping power and using it selectively.