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Friday, November 10, 2017

'Demonetisation' a demonic act against India to ruin the country?

(image courtesy: thequint.com)
One year has passed since the worst ever economical reform of announcing the immediate and sudden ban of high value 1000 and 500 currency notes that constituted more than 85 percent of Indian bank notes, was implemented in India by prime minister Narendra Modi on November 8th, 2016.

Ever since this action of currency banning, repeated opinions favoring the decision were published by a handful of people, either a section of leaders and sympathizers belonging to the ruling party or few billionaire celebrities and business-men for whom the favor of the powerful is a must as they possess unaccounted and disproportionate wealth and are afraid of gaining the wrath of the rulers and any immediate action by their departments.

On the other hand renowned economists of international reputation like former prime minister Dr Manmohan Singh, former Reserve bank governor Dr Raghuram Rajan, Nobel Laureate and Bharat Ratna Dr Amartya Sen and many others have categorically criticized strongly Indian demonetization and have predicted it would be a huge blow to the Indian economical growth which is being experienced now.

To understand the plight of the common man today, owing to the currency ban, one need not be a scholar. If a handful of people who are subscribed to the prime minister's mobile app supports note ban, it does not mean that it is a wise step..!

Even though many attractive reasons were furnished to justify the act, as not much intended (or projected) results were attained even after one year, it is obviously proved that this act was a historical blunder. And the funniest part is that, those who are instrumental to all the economical hardships incurred on the country and caused confusion among the people are trying to 'cover' it by wasting additional funds through print and electronic media advertisements and social media publications.

There is a saying, 'ruling a country is not a child's play'. Leaders who grab highest positions by hook or crook in a country or state must be prudent and sensible while taking any decisions and must be very very careful while trying to change something that is existing. If reforms are introduced considering the welfare of the people rather than just aiming personal and parochial agendas, automatically they will bring good name and fame to the rulers. One can see how much anxiety the world population is bearing due to the selfish stands taken by some heads of states..!

Let it be understood that 'a mistake is an opportunity to learn' and 'an error does not become a mistake until one refuses to correct it'. But a mistake becomes an unforgivable grave sin when the one who committed it tries to justify it and commits more mistakes to cover it'...!

10 comments:

  1. Demonetization, no doubt is a huge blow to the Indian economy. As it was unplanned and untimely, it has terribly affected people belonging to all walks.

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  2. I do not think I agree. But thank you for posting.

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  3. Demonetisation is a disaster and flop. For months RBI and government avoided giving the figure of notes that came back. Only pain. No gain.

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  4. That is an extremely smart written article. I will be sure to bookmark it and return to learn extra of your useful information. Thank you for the post. I will certainly return.

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