The surprise bombshell by Narendra Modi, the Prime Minister of India and his BJP government has stunned and shattered the hoarders of black money, the political parties who use black money to fight elections, business men and women who use black money to grease the wheels, and funders of terrorists by rendering the black money worthless. They are now lashing out and seeking revenge against Narendra Modi for the huge loss they have suffered. This was a knock-out blow for them.
One way to get at Narendra Modi and the BJP government was to say that they have suddenly become the champions of the poor people, farmers, small traders and rural areas; saying they are suffering because they have to stand in long queues, they cannot buy food, pay school fees, workers are not paid, they cannot buy medicines so on and so forth, whereas in the past these poor people and others have been ignored by them and they had done nothing to improve their lot in any way. Now they are shedding crocodile tears for them. The common man and woman are not complaining and are happy to bear the inconvenience they are under-going because they want end of corruption and black money. Hopefully by end of December the situation will return to normal.
The move had to be planned very secretly by a few people, otherwise if all institutions had been involved there was every possibility of leakage of the move, thereby giving the black marketers, black money hoarders, political parties, businessmen and women and vested interests to get rid of black money before this regulation it came into force. This would have removed the element of surprise and success of the demonetisation of Rs 500 and Rs 1,000 currency notes. So in view of the foregoing there is no doubt that thorough planning as demanded by the opposition was not possible nor feasible.
By getting the black money out of the system it will boost the country’s coffers under the amnesty provided the hoarders of black money paid 60% tax and it would also increase the capitalisation of the banks because of new deposits made.
This demonetising of the currency was a visionary and valiant move by Narendra Modi and BJP, he took this bold step knowing full well the pitfalls, the opposition he will face, and even danger to his life. The people he has challenged are very powerful and would go to any length to sabotage this demonetising of the currency. The good thing is that the people of India from all walks of life are supporting Modi, and there are no chances of this scheme failing. This is the first step against corruption, others are to follow soon.
Baldev Sharma
Via Email
