Post Demonetization: Present Status

            The towering personality from the arena of political circle and Andhra Pradesh Chief Minister Chandrababu Naidu expressed deep concern, the way the scheme is being implemented.  In the beginning he welcomed it wholeheartedly and now deflects from the original stance.  According to him, the basic purpose of demonetization has been defeated; “there was no solution in sight even after more than 40 days” is his death-rattle.  Naidu heads 13 members high power central committee on demonetization issue, “I am breaking my head daily for two hours, but we are unable to find a solution to this problem,” he said.  How the people are striving for money and how farmers and small businessmen get frustrated is his the biggest mental badger.  On October 12, he himself wrote to Prime Minister regarding scrapping of high value notes of Rs 500 and Rs 1000.  He expressed umbrage over introduction of Rs 2000 note.  His objection is on RBI and banks inability for transformation from cash to cashless as well as their way of handling the present crises.

            Election commission of India wants to delist at least 200 odd defunct political parties who have not contested election from 2005; have not filed income tax return, and could do nothing but involved in money-laundering operations.  EC inform Income Tax department and hope they will scrutinize the financial transactions of these parties.  At present, there are seven national, 58 state and 1786 registered unrecognized parties in India.  A bold step against non-serious parties will be a lesson for others, with regards to transparencies in term of transactions and donations.  This is the right time for political reforms especially in view of unnamed donations the political parties receives, that leads to black money generation.

            From the day one, the black money is unearthed from different sections of the society.  Till date, more than Rs 3 thousand crore of unaccounted money has been identified; more than Rs three hundred crore new and old notes and equal amount of gold and jewelry has been seized.  Many bank officials have been suspended.  The agencies are issuing letters to those in whose account suspicious transactions are noticed.  The co-operative banks are under radar.   Seizure operations are going on.     

            If you look at the whole issue from birds eye view, in nutshell, you will notice that all are frustrated but satisfied due to hard hammer thud over black money hoarders.  The common public will exhibit sigh of relief even if black money menace will reduce down to some extent.  In India anything is possible; the only thing is that, the public must realize its importance.  Take an instance of cell phone; the common masses have accepted it within a span of a decade.  Farmers, maid servants, small venders so on and so forth are using mobiles as if it is part and parcel of their life.  It is likely that demonetization along with cash less transaction will transform India in to a superpower; provided, the Prime Minister Modi and his dedicated team should act affirmatively in the positive direction and satisfy the basic need of common people.