India has indeed been very unfortunate in having Narendra Modi as Prime Minister who is following the footsteps of Mohammad bin Tughlaq who even after the passage of seven centuries is held in ridicule for having implemented token currency made of brass and copper that became worthless as stones thus emptying out of his treasury that eventually shattered his sultanate.
Further his decision of shifting his capital from Delhi to Daulatabad (Presently in Maharashtra) also led to weakening of his Kingdom. PM Modi has taken Tughlaq like decision of demonetization on November 8 and is now thinking of launching plastic (polyster substrate) currency to replace currency notes.
Modi will unleash similar strange policies to woo voters for the upcoming assembly elections in Uttar Pradesh(which is very crucial for BJP), Punjab, Gujarat. Uttar Pradesh defines political movements ;sends 80 MPs to the Lok Sabha and has given India most of its prime ministers.
Prime Minister is constantly changing his narratives on daily basis to justify the inconvenience being caused to downtrodden,poor and middle class.
- On November 8th Modi cited black money, fake money and counterfeit currency as reason for demonetization.
- ON November 27 He asked people to go digital/cashless for the dearth of currency.
Then Modi and RBI Governor Patel (from Gujarat) announced rationing of the currency by allowing only Rs24000/- to be withdrawn through cheque per person.
While bank officials unilaterally decide to allow withdrawal of Rs 4000-Rs5000 per person through cheque (because the ATMs are empty and banks have limited cash for the day).
Now,people of India will be virtually left with pass books with no real money that they can use or withdraw.
The way the numerous digital companies have cropped up for e-payments ,it appears that there is a vested interests in this new set up of digital system for the elections in the coming years that is why this is being forced on the public.
BJP led NDA has now informed the Parliament that one billion plastic notes of Rs10 denomination would be introduced in a field trial in five cities Kochi, Mysore, Jaipur, Shimla and Bhubaneshwar.
No country can afford to use two sets of currencies that is cashless for the domestic economy and actual currency for the international trade. Even big powers like USA, China, Russia etc are using 85% of the cash in economy and no country in the world entirely depends on digital transactions for boasting their economy. If Modi really aspires his country’s economy to become larger than US then he must think on idealistic ways and should not fool himself by creating an utter chaos.Infact the mess created about cash is beyond description.
Modi government intentions become doubtful when a junior officer Rakesh Asthana (from Gujarat cadre) is appointed as acting CBI director by curtailing the tenure of a most senior officer. Asthana who handled the infamous Godhra case is now being allegedly used against different political leaders for bringing in Inspector Raj in the country.