Self-created Demon of demonitisation now scares Modi government

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Jagtar Singh

Chandigarh, November 18: The Parliament remained deadlock for the second day on Friday and going by the present situation, there is little sign of any business being conducted in the coming days. It is the demon of demonitisation that has impacted both the Houses of the Parliament. The Narendra Modi government is running away from debate that has rocked the country under the clause under which the culmination is the voting on this tricky issue. The treasury benches are not agreeable to voting. The Opposition is exhibiting rare unity.

The issue also reached the Supreme Court today when the government sought directions to the lower courts against hearing petitions against demonitisation of the earlier Rs 500 and Rs 1000 notes. Entire economy has been severely hit. The move was aimed at black money. However, those most adversely affected are the weaker sections. The people who have black money in real terms have not been affected much. Black money economy is not all in cash which is a small component.

Prime Minister Narendra Modi has been conspicuous by his absence from the Lok Sabha on both the days. Both the Rajya Sabha and the Lok Sabha adjourned today again without conducting any business with the united opposition pressing for debate under section that entails voting. It is the Modi government that is now running away with no sign of the long queues outside the banks getting shorter  even on the 9thday.

The banks  are stocked with limited quantity of Rs 100 and Rs 2000 currency notes. One can’t buy items of daily needs from the shop next door with Rs 2000 note. The note of this denomination is turning useless so far as purchase of daily needs are concerned. One can’t go to a vegetable vendor or a milk booth with Rs 2000 note. There is no change. It is not the shopkeepers who can be blamed. Money squeeze has hit every aspect of life. People, including housewives, spend entire day to get Rs 2000 from the bank that otherwise is only a matter of consolation of having some money. One can imagine a daily wage earner spending an entire day to have new notes. One can’t pay the school fee with the amount that has been allowed to be withdrawn. Private schools charge higher fee. The situation could be the worst in case of higher educational institutions in case the payment has to be made in cash.

The situation has further worsened in the rural areas with the government ordering the banks in the cooperative sector against changing currency. The apprehension is that this route might be used by the traders in grain markets to deposit their cash in the names of farmers. This can be done even otherwise. But the deals have always been struck. Punjab is the state with highest transactions between the farmers and the commission agents. Farmers sell their produce in the mandis through these commission agents who are also money lenders-cum-traders.

Modi talks big. He might appear at some public rally to ridicule the opposition leaders for opposing demonetisation in the name of the common man. It may be mentioned that Bengal Chief Minister Mamta Banerjee and Delhi Chief Minister Arvind Kejriwal yesterday served three day notice on Modi government. Modi Bhaktas would cheer him.  But then even these Bhaktas  have their reservations that they express in private.

In the absence of money in the market, there is no demand. This forced lack of demand is going to adversely affect production leading to further unemployment. Once the economy is wrecked, it would take a long time to recover. This is just the common sense. Economists have expressed their reservations.

The worry of the RSS is that it is the support base of the saffron outfit that has been hit hard in the process.

The basic issue is that black money continues to be generated and would continue to be generated under the present colonial system of administration that none wants to change.

 

Editor-in-Chief

Jagtar Singh

+91-9779711201

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