I agree with Balubnai’s statement that demonitisation experiment is an ambitious exercise by current government. While planning an electric strike, the planners omitted human factor. All forecasts may have appeared perfect and smooth on designing board. But humans tend to panic at such sudden announcement. Result is long queues at banks and ATMs. Worse omission must be lack of foresight to see shortage of cash at both points. Staggering effect on small businesses, cash oriented transactions is also damaging India’s economy.
Cashless society being forced is another disaster, as a very small percent of people have bank accounts or even a smart phone. Cashless transaction is also invasion on freedom, privacy and discourages dissension. This move appears to widen gap between rich and poor by favoring smart phone and credit/debit card dealers. Promised benefit to public seems to be a façade to ease the pain of surgical strike. It is hard to understand joy at self-flagellation on promise of good times ahead, especially when terrorist attacks are still going on. While honest public is turned away due to lack of cash, millions of cash is found with looters, terrorists and smugglers. Unfortunately some bank staff are involved in money laundering racket.
Ramesh Jhalla
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