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When all trees have been cut down, when all animals have been hunted, when all waters are polluted, when all air is unsafe to breathe, only then will you discover you cannot eat money. - Cree Prophecy

Monday, November 14, 2016

demonetisation and demonisation! the rise and fall of hopes of killing black money!!

It looked nice and well thought out..
it was also very nice to experience at personal level- I moved around with just 60 to 70-Rs in my pocket for 3 days..it was a very special experience..i felt I was helping my nation and govt tide over the black money crisis..even if it does in a small way I wud be happy..so I will not crib or complain about it, I swore to myself..but we shudnt forget  my confidence to move around with 70Rs in hand was I cud ask for card from any friend if needed, or do an e-transfer, talk my way out or just pile on to F & R  for food and such like..
Think of a rural India person..a farmer- if all he or she had was one or two notes and if they had to buy some seed or medicine or…pay labour or tractor!
but  this is not about some sob story of some people (prolly some 50-60%) stuck in rural india..nor about their lives n struggles..esp to us urbans. who have no clue about the rural India's sufferings.
but will this move seriously help kill black money?
I don’t think so..I don’t think the tatas, ambanis, pawars and those other biggies wud have stacked cash (alone!)..not even those broker politicos or small level middle men or the local panchayat presidents..may be this bulking n piling of 500 & 1000 wud be done by some..but I dunno if all our collective struggles is justifiable..


-          Unless The elections and mind u the elections are the biggest payers n users of black money..and amount spent by BJP and this “ab ki baar” was the highest ever spent for Indian election..if that was all white, iam happy..and watch out how much will come to play in the next few elections (any one know how much was spent on ab ki baar alone? And that this same govt absolved itself and the cong of not being accountable to infusion of foreign funds for election expenditure!)

-          Unless I see the biggies struggle (like me) and come out and crib..else its clear they are happy n have umpteen other ways to blacken and enjoy

-          Unless the much discussed NPAs and the unpaid for loans of the biggies (to the tune of some nasty 6 lakh crores) is surgically struck

-          Unless the real loan amounts of all those biiiig rich fellas, their unpaid loans and their real assets in personal names are disclosed ( BTW how did we manage to call these highly indebted fellas as the rich fellas?)

-          Unless iam told who else will now withdraw these millions we fools collectively deposited  in to banks? Other than the biggies discussed in the last point?

-          Unless loans and lives for our farmers is made easy..

Did u know?
-          When demonetization of higher notes was carried out in in 1946 & 78, the majority Indians didn’t even feel the pinch..bcos most of them hadn’t seen these bigger notes! And both those didn’t put an end to black money and nor will this.

-          That high denomination is 86% of the money in circulation in these days!

-          Of the Rs 7,700 crore worth of ill-gotten assets got by the voluntary disclosure, the cash component was merely Rs 408 crore or 5%. Cash recovery of IT seizures has always been so low.

-          Black money enters the formal economic system through real estate and shell companies

-          credit rating agency Moody’s had stated that Indian banks required Rs. 1.25 lakh crore capital infusion?

-          And the infusion of cash by the ordinary Indians obviously saved the banks and now who is waiting to use them up? Smack-smack!

-          That the ‘real’ surgical strikes on the known black & hidden money will never happen!

-          That the queues and woes of rural India is getting longer!

-          Iam not a pakistani or terrorist but having serious doubts about this move and can assure this will not have the lofty outcomes that most of u r dreaming of..(oh! Bhakts – do not come and shove ur nationalism on me..i know enough of it:-))

 

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