If you do can’t do a good thing, don’t do a bad thing. The people who have the power when in the authority must use their best possible ways to avoid any bad things from happening. In all the decades since we got Independence, we never have seen a day that left every citizen stranded on the streets, with no money to his name, rushing to the banks to deposit, and returning home cashless.
While the new money was rationed in bank queues, billions was siphoned off to several offshore bank accounts and private schemes, crores of newly minted notes were hauled using container tankers by politicians. Demonetization in India. Now GST! — What Arthashastra, and Art of War teaches us? When demonetization in India happened I predicted depression for the economy. I’m sorry, I was wrong.
In that 60 days, almost a billion people stood in the lines to empty their pockets to the banks, and many just died standing in the long queues. How many such incidents made people lose their mental peace? How many young kids died when hospitals refused to give treatment? Do you know how many tribes, poor people without lack of communication, and unknowing of the fact there is a deadline stood outside the gates of the RBI hoping their notes would be exchanged.
How many sick and destitute did not eat these 100 days? Do you know how many jobs were lost in the informal sector — Esp. in leather industry, steel industry. Do you know how many traders lost business to exports/imports just because every trade was locked in without cash? And, then GST. Forget economics for a while. All we see the same debate going round and round about the stupid joke of the century — DEMONETIZATION.
Why not call it a Black Day?
The man who called the shots, asked the people for a deadline — Dec 30th. And, today is almost a year since we began falling down hard. Why such a rash decision? And, more over the RBI never had a valid reason why the window for exchanging the notes was closed down on Dec 31, 2016. Seriously frustrated with the crowd related problems, many of the bank employees never co-operated to exchange notes for many days even before Dec 15.
There is not a single Indian citizen who did not spend more money since demonetization. Prices of almost every food commodity shot up the roof. Meanwhile there was floods in certain parts of India. More worst, elections. After Dec 31, only NRIs were allowed to exchange their monies. Sick! One old lady unheard of the happenings around her, had almost 5 lakhs of demonetized cash lying with her and he never understood what people around her said, died without exchanging the notes, all alone.
Here’s the big question — What did the common man get? Where did all the “black” money go? If 99% of money returned back to the banks, which money were the “economists” treating as “black”? How much did the common man lose his own money to demonetization?