Surgical strike on currency ban has created one of the greatest debate of our time ever since Independence. Political and Economist are divided on two way opinion, like any other debate, demonetisation to some is like a demon, to others, it could be beginning of true democracy of equality – bridging gap between have and have-nots’
I ‘ve a very different opinion to share - far away from- what Political class or Economist are analysing.
I firmly believe, Demonetization is step ahead or towards Digitalization or cash less economy- finally destined to deliver true Democracy of equality. Economy, where all transaction will be either enabled by plastic, e wallet or some e gateways or even texting (sms) or sharing mere Adhar No. We are talking about real time transaction, where it can be track-n-traced and therefore zero chance of black economy. Imagine the compounding effect in a year for an economy, like India due to its sheer volume and size.
I ‘m not going to talk about social impact of this initiative, such as anti social activities, terrorism, bribing etc. neither am I interested to talk about Fake Currency eradication and its impact on economy but a very different interesting angle. An angle around which politics, power and people revolves. Yes my friend, Modi has polarised entire country but this time it’s not around caste or Hinduthva but around rich and poor, voting and nonvoting class. Through this initiative he is going to win over every poor citizen of this country for ever, making every other political party practically defunct. Any which case, he has already made many of them invertebrate by ‘Note Ban’- actually it was intelligently ‘Vote Ban’.
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Political class ever since Independence replaced monarchy with pseudo democracy by buying vote before election. Modi with his master stoke has created a New Normal, where by effective use of technology and fear factor of IT is trying to bridge the gap between poor and rich. In a digital economy if nothing incremental least entire amount of daily wage goes to BPL class and that alone can create huge impact to his/her purchasing power or livelihood.
For the first time rich man and poor man stood in lines to convert notes- as if this was another quit India movement! Yes, quit from bribery, corruption, black economy, hoarding, fake currency terrorism and goonda raj. In fact, Dawn newspaper from Pakisthan reported that Fake currency kingpin, Javed Khanani died immediate after note ban imposition- resulting into huge loss and as a result he committed suicide. Similarly, there was sudden silence and calm in the valley after many month of protest and violence- such was far reaching of Demonitization.
Today, terrorist in the valley are dry and hence stopped activities funded though this black money channel- if this is not a change for good as some political parties fry foul, then what is that they were expecting.
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