Post Demonetization: Shades and Depth

            No one ever thought of regarding the different shades and depth of the demonetization policy, when scheme announced by the PM Modi.  In the first instance, postulations were, the scheme will raked out black money and will have long term effect on economy.  The picture differed; briefly, everyday old and new currency is being seized from across India, the major junk of old currency is being deposited in banks, the opposition is at its high peak and average population is experiencing heat of demonetization.  The subject is still hot in print and TV media.  And, the future prospect of PM Modi is at stake.  The political graph was at peak during surgical strike at LOC and now at nadir due to present politico-socio-economic fuss.  S A Khan AIIMS Professor in his article in Indian Express reported the difficulties in health sector due to cash crunch.  Already 16 top companies have registered sharp decline in their advance payments for the third quarter, indicating the economy is in shamble.  So far the journey from the day one is exhibition of different shades of political and social spectrum.

  

BJP’s electoral prospects likely to be affected in ensuing election, concerns Uttar Pradesh Parliamentarian.  Mamata Banerjee West Bengal Chief Minister is provoking RBI Governor and urged him “to stand up against policy onslaught against the public”.  In her opinion, five crore workers have a wrath due to draconian policy.  RBI Governor Urjit Patel has shown black flags and manhandled by Congress workers. What a shame?  Resentment over scheme was expressed by Uttar Pradesh Chief Minister Akhilesh Yadav.  While attacking BJP, he said “those who promised to bring ‘acche din’ have forced the people to stand in queues”.  Nobody knows what cards Rahul baba is playing.  Congress as well as opposition parties – including stalwarts of Congress – are in dark about what information he possesses about corruption charges involving Prime Minister.  Logjam continued in Parliament; both sides are accusing each other.  Attorney General Mukul Rohatgi has difficulties in replying queries from Supreme Court.  These are the political activities on 37^th day of demonetization.

                       

          Some incentives were given so as to have positive impact on bringing maximum persons under tax net.  Government is planning to award customers and merchants to strengthen the policy of digitization.  To the other side, officials said that the common man will have to face difficulties even after December 30 deadline.  The cash withdrawal limit will not be raised in near future, as only Rs 5 lakh crore new currencies have brought in to circulation.  As per Economic Affairs Secretary, 50 per cent of worth of withdrawn currency would be in circulation by the end of the month.  The bank officials are under scanner of investigation agencies, facing public abuses and threats, tremendous pressure due to over load, and thus growing resentment in bank employees, as observed.