The demonetization circus never cease to end. This overnight move by the BJP government was carelessly planned and citizens, especially the poor, have become helpless puppets of its unfavorable consequences. Limited ATM services, low deposit limit, and poor bank administration are some major roadblocks in its process.
Even though new schemes are being implemented and modified every week for people’s convenience, still, the infuriating wait outside the ATMs and banks fail to end.
Earlier, Anil Bokil, the man who advised PM Modi to pursue demonetization, seems to be disappointed with its implementation but at the same time, he had some positive things to say about the move.
But now, the mastermind has made some surprising statements. In an interview, he hinted that Rs 2000 notes were legalized for a short term and they are like a temporary solution to deal with demonetization. This is what he had to say:
“The demonetised notes of Rs 500 and Rs 1,000 constituted 86% of the cash flow. Withdrawing them in one go was bound to spawn a major shock. The Rs 2,000 note was introduced to minimize that shock. A certain instrument is kept in the place of a heart going under the knife. The Rs 2,000 note is to demonetization what that particular instrument is to a heart surgery,”
He explained his point with another analogy and called it Rs 2000 notes just a “Diversion”:
“Once the road is constructed, what’s the use of diversion? Nothing. Rs 50 notes could smoothly run the economy and, as such, even Rs 500 new notes and proposed Rs 1,000 notes would not be required in the future”.
He further questioned the facts that say that note ban is a right step to curb just 6% black money:
“Nobody knows from where has this 6% figure come. Black money is like a cancer. When you treat cancer, one or two healthy cells also get destroyed along with cancerous ones in chemotherapy. Everyone knows election expenditures are made by parties in black money. Now you know why parties are creating a brouhaha when the common man is ready to face the hardship caused by notebandi,”
He ended his discussion by saying, “Demonetization was aimed to curb counterfeit currency, terrorism. and poverty. More so, India’s economy grows at around 7% while the parallel economy of black money grows at around 11%. Centre committed certain mistakes, such mistakes were natural and could happen even later. But the intentions are good”.