New Currency by no means eliminates Black Money


Replacing old currency with new one by no means eliminates black money and corruption but Prime Minister Narendra Modi opted for this political move in a dramatic manner to create a ‘dhamaka’ thinking that it will bring his party to an advantageous position in the coming Uttar Pradesh and other states elections.

He rather termed demonetization as drive against black money and corruption where as black money is stashed in Swiss bank accounts and Panama papers and people like Lalit Modi and Vijay Mallya are roaming scot free in London .

Now,demonetization to destroy the network of counterfeit currency is a myth as fake new currency notes of Rs2000 were being printed in Hyderabad and an incident came up where such fake notes were found in circulation in Mumbai ,the financial capital of India.

The third point raised by Narendra Modi of clamping down on black money which are actually created by the illegal drug trade , trafficking of girls and illegal arms trade. This will happen with the new currency as well.

The corrupt money is generated in the government transactions where huge arms agreement or dealings take place and Modi has not found any solution to these sources of corrupt money.

Meanwhile,the entire opposition is observing “Jan Aakrosh Diwas”to protest against demonitisation scheme on the grounds that every poor and middle class person in the country has been needlessly inconvenienced and harassed in different degrees .

From the day he came to power ,Modi has been looking for some opportunity to create various ‘dhamakas’ on one  pretext or the other.He has not done anything to fulfill his promise of creating employment (such as Tume naukri chahiye ya nahi) and bringing black money from abroad and depositing the same into the accounts of Indian citizens.

Having realised that he could not show any thing to win the elections : BJP-PDP failed in controlling the crisis in Kashmir , and instead putting the security of the country at risk by putting aside India’s proven policy of refraining from announcing any cross-border operation as surgical strikes and the BJP went on bragging for conducting surgical strikes resulting in increase in casualty of our armed forces.

The announcements of surgical strikes were made to take political mileage in the coming Uttar Pradesh elections without taking into account that this will put our soldiers lives at great risks .These elections are very crucial for PM Modi as losing these would considerably weaken his remaining tenure .

Whatever situation unfolds after the demonetization scheme will serve as a referendum on PM Narendra Modi during the 2019 Lok Sabha elections.


arti bali

By : Arti Bali Senior Journalist


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