Modi should stop bragging about demonetisation


PM Modi’s government has marked a prominent place to govern in the footsteps of Asuras (detyas) as people are forced to migrate to their native villages due to non-navigability of work,their survival have been made tough by unbearable cash crunch, taxation and high inflation.

Mythologically  Asuras added to the sufferings of the common people while God( Devtas) in the lineage of Vishnu  add to comfort and prosperity of the people.

It has become a style of government to launch new schemes and also brag about their wrong policies and decisions by arguing these will bear good results in the long run without specifying how.

If PM Narendra Modi is so sure of his schemes and saying that his rallies are being applauded (though by his party workers only) then why he and his ministers and party President repeatedly explaining the things in the media or using social networking sites, radio etc to  somehow convince the people as the deeds and results speak for themselves.

If Modi is so adamant for the public to spend less and become thrifty why is he  spending so much  on big rallies because example is better than preaching .He should rather use youtube to post his speeches  or views  for the general public  to watch and listen whenever they want.

On the contrary the public should be cautious enough  to fell in his trap and the opposition parties should watch that the democratic process of conducting the elections in time is not delayed.

The baffling situation after the implementation of demonetisation  scheme can be assessed from the following:

  1. Delhi government estimates that 60% workers have left  for their home states  after Nov8,2016. Further elucidating  that Delhi govt, labour department on Nov24 and 25 revealed that 30-35% workers had deserted labour chowks ,Manis, construction sites because of shrinking  work prospects  and no pay.These figures of 30-35% has increased to 60% in the latter half of December month.
  2. Writers,left leaders back Jnanpith awardee who criticised note ban by PM Modi
  3. The most recent RBI report stated in its financial stability report for December 2016 ‘If the macro economic conditions deteriorate the CNPA ratio may increase further under such consequential stress scenario (ie the effects of demonetisation).

The business growth of banks remain subdued with PSBs continuing to lag behind their private sector pears. “The asset quality of banks deteriorated further between March and September 2016.

While RBI Governor Urjit Patel said “Demonetisation impact is difficult to capture at this stage.” The Reserve Bank of India has thus revised its GDP forecast for 2016-17 to 7.1 percent from its earlier estimate of 7.6% due to the negative impact of note-ban.

With these pessimistic statements coming in-succession from various quarters it is difficult to understand as to how BJP leaders I&B minister Venkaih Naidu , Law Minister Ravi Shankar Prasad and Power Minister Piyush Goyal are posing as optimistic about the outcome of the decision where as PM Modi also makes statements wrapped in skeptism that the demonetisation may not help him drive advantage in elections and is good for the nation in the long run .

arti bali

By : Arti Bali Senior Journalist



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