500/1000 : Hangover and the Morning after


500/1000 : Hangover and the Morning after.

In our previous post (https://www.facebook.com/samanvayain/posts/1822095351364269) we have welcome the strategic move made by the honourable Prime Minister (http://indianexpress.com/article/opinion/columns/rs-500-rs-1000-currency-ban-black-money-narendra-modi-4366863/). We have also pin pointed certain steps that would be necessary to handle the pressure and panic that might result from the change in currency notes.

As we go at the end of second day, of the declaration, barring some incidences at certain places ( notably Noida, where one hospital denied body to the family in the absence of cash payment: as reported on India TV on 10/11), the crisis has been largely handled successfully. There was no cry from our maid, driver and cook. Our driver who was not having any cash in hand still praised PM Modi for his brave action. The maid and the cook worked as if nothing happened only that they had smiles on their faces when i asked them how they felt.

A few stories that interested us were that of Baba Ramdev who offered cheque payment on all his outlets for helping the poor and the middle class for buying out essentials for marriages and ceremonies. The other being a photo on Whats app that showed some MLA in AP distributing 6 months of advance pay and extra cash to his employees. A few tried to make the most of it. The market rate of changing a 500 Rs was 300 and for a 1000 rs 200. This transactions are carried out at medical and liquor shops. We don’t understand the ratio though. ( May be and better if Chidambaram had tried to solve this puzzle rather than wasting time on 2000 note puzzle – //indianexpress.com/article/india/dont-understand-why-rs-2000-notes-have-been-introduced-asks-chidambaram-4366196/).

The rate of depositing Rs 1 lakh in your account will get you Rs 10k. A few temples were also in lime light, notably ISKON which has given the name and mobile of one of its Pandit who is accepting old notes.

As expected there were also some comments by oppositions leaders like Chidambaram (http://indianexpress.com/article/india/india-news-india/rs-500-1000-ban-black-money-chidambaram-accepts-objective-not-method-government-4367149/), Arvind kejriwal (http://www.ndtv.com/india-news/pm-narendra-modi-advertising-for-paytm-shameful-says-arvind-kejriwal-1623752), Akhilesh Yadav (http://www.ndtv.com/india-news/scrapping-notes-a-hasty-decision-taken-with-polls-in-mind-alleges-akhilesh-yadav-1623568), and few others we didn’t find any major remark or objection to the change that merits attention.

However there were also news that compared the present demonetizion to the one carried out by former PM Morarji Desai (http://economictimes.indiatimes.com/news/politics-and-nation/jury-still-out-on-whether-morarji-desais-demonetisation-step-was-fruitful/articleshow/55341400.cms )

and asked whether it will have any impact on its prime objective i.e curbing black money. We feel that the comparison is outrightly wrong. For one the terror activities in present days is alarmingly high as compared to the time of PM Desai. As a major chunk of 500/1000 Rs notes were going towards funding terror across the nation the present step is not only step in the right direction but also need to be praised wholeheartedly. No doubt all the people with clear conscience has come out ad praised the initiative (http://www.ndtv.com/india-news/pm-modis-masterstroke-says-narayana-murthy-on-cash-ban-1623350. The action has two fold objectives. 1. to curb black money and 2. to thwart terror activities that are easily funded through fake currency.

It is atrocious to see how the political parties fail to see the larger picture and try to pick holes through the sky.

There were also blogs on the usual suspect channels like NDTV that tried some intellectual weaponry to criticize the step (http://www.ndtv.com/opinion/modis-masterstroke-has-great-timing-but-inherently-flawed-1623647). I suggest everyone to read the independent and neutral anonymous comments that this author has received on his blog post which makes the picture clear for all.

The news also garnered prime positions in international media and was largely praised for taking the bold action. Bollywood has also hailed the decision with the best comment coming from Ajay Devgan on his twitter account : “Sau Sunar ki, Ek Lauhar ki”.

The best comment that gained sympathetic votes, was that of Mayawati, as everyone felt the lady just lost her chances of UP elections (http://www.ndtv.com/india-news/pm-modi-has-imposed-undeclared-economic-emergency-mayawati-1623846) as the elephant that carried the large booty has just fallen into the pit (http://www.ndtv.com/india-news/sacks-full-of-burnt-500-and-1-000-rupee-notes-in-uttar-pradesh-1623440).

The best deal came from hon’ble minister Nitin Gadkari who announced toll free for two days. Nothing could have been better than this as it took all the pain from the operation.

Meanwhile, the Whats app groups are still having merry time with loads of fun and sarcastic images and comments keep pouring in. A sample , ” Abhi 2000 ka diesel bharaya, aisa lag raha maano Laash thikane laga kar aaya hu”. and one other ” Mere pas car hai, bunglaw hai, ..tumare pas kya hai…Mere pas 100..100 ke note hai”

It just looked to us as if India celebrated its first independence day with so much fun and made it lively after a dull period of governance over the years.

Asheesh Shah
Author: Asheesh Shah

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