Yes, the big word. Not many people were as familiar with this word a couple of days back, as they are now especially after the 8th November announcement by our PM Mr Narendra Modi. Rs. 500 and 1000 notes to be banned and considered illegal for tender effective the announcement date midnight. The announcement surely exhibited the bold and decisive nature of Mr Modi and for sure nailed the coffin of black money hoarders.
Indians all across the globe are appreciating this move and have been observed supporting the government’s decision. Everyone is discussing the process, though some are hellbound to convince everyone around them that this could have been the best thing that ever happened to India, whereas some pointing out the faults in the implementation of the restriction. I also found some people trying to jot down certain countermeasures and relaxations that government should introduce officially to make the currency transition process more people friendly.
Not only Indians are talking about it, but also the entire world is looking for India’s new transformation today. Be it The World Bank, IMF, McKinsey and many such firms, it hasn’t stopped them from praising our PM and his decision; wishing India a corruption free and brighter future. Furthermore, a neighbour who had always criticised everything about us has unexpectedly praised our PM for this and started making out plans to implement the same in their own country. Yes, it is Pakistan indeed.
Why may demonetization prove to be a centrifugal force for Indian economy?
Indian economy has been booming up since 2014 general elections, and we have already reached certain milestones like highest economy growth in the world even surpassing China, number 1 FDI ranking, highest GDP growth, many multiple billion dollar investments being done in India and we are given the respect we deserve from all over the world. Somehow with every passing day, if we continue to grow even with baby steps, nobody would be able to stop India from becoming the next superpower of the world by next decade or so. When we talk about so many good things happening to the Indian economy, can we all think of anything that could boost up this process and give us a great headstart to shorten the time period for India to become a developed country instead of a developing country? If we do ask this question to ourselves and may be to our near and dear ones, I am certain we all would definitely list Corruption and Counterfeited currency as one of the major roadblocks.
Now, with the demonetization process, these two big factors will be countered, if not completely but still significantly. It is not assured that it will put an end to bribery or you would see only honest people everywhere, but it definitely is a bold step to haunt dishonest people. It also puts a big full stop to the cross-border funded terror activities.
What demonetization has done for India so far?
1. To start with, normalcy has been restored in Kashmir due to unavailability of funds to sustain unrest.
2. Naxalites are running out of money to buy food and other necessities and hence are forced to surrender to the government.
3. People with truckloads of black money are traumatised and are finding it very difficult to dispose of their black money.
4. People have started connecting with their relatives that they haven’t seen or talked to in decades, just to seek their support in managing their black money.
5. People who didn’t pay their taxes properly or didn’t pay their taxes at all are sleepless now.
6. Trillions of rupees getting declared or deposited in banks or getting retrieved in IT raids. This money could be invested in the future development of the country’s infrastructure development.
These are very few of the bullet points that the demonetization move targeted in one go. The benefits are numerous. The pain is temporary and gain is long-term. Yes, there are some inconveniences. Yes, the honest citizen is suffering now and has to face some difficulties, but shouldn’t this pain for a couple of days be preferred rather than suffering for rest of our lives in a corrupted country. Yes, poor people are in tremendous trouble today, but were they really happy and partying before? At least this pain is for a limited time, whereas the pros will make their and the future of their offsprings better. We need to ask ourselves, when we can stand in line for hours in a temple to show our devotion towards God, can’t we stand in bank queues to show our devotion towards our country. If we can stand in queue for hours for an Apple product launch or JIO sim launch, can’t we do this for our better future and to support our honest countrymen?
I read a post in a leading newspaper yesterday titled “Narendra Modi has made a progressed India but a much-divided nation”. On the contrast,from what I can see India is uniting. We are not Punjabis, Gujaratis, Marathis or Kannadigas anymore. We are Indians and we are realising it. We have woken up the human side of ourselves which in turn is helping people in need, distributing water and free food to people in queues. Everybody is happy being part of this transformation be it people who re-calibrate ATMs or bank employees or citizens of India. Isn’t it highlighting our patriotic side, which always use to come out only in an India vs Pakistan cricket match? This, in my opinion, is a better India. The India that I have always dreamt of and wished for.
We need to support Mr Modi in this historical war that he has commenced and fight it at an individual level too. Not just now, but every day. Say no to corruption and live life king size being an honest Indian.
In the end, I just want you to contemplate that is it really the common man who is badly affected by demonetization or is it the people representing the common man?