So we have yet another big news. Another big stuff to gossip in tea shops. And another example to show our kids, how a man tried to bring about a change, but we complained about our inconveniences to stop him.
Now, I never sit down, think deeply for some minutes, and write a post. I’m a pretty straight forward person, with not much of spare time, and thus, my topics are not of much deep thinking. But I feel, there are certain things happening around us, in this society, towards which we need to give a thought and then make opinions, whether it’s good or bad. Recent thing that has stirred this cringe society of ours is the ‘Ban of 500 and 1000 Rs Notes‘. The other day, I was checking the GDP of several counties, and was literally stunned, by seeing, third world countries like Sri Lanka, Myanmar have higher GDP than India. But you check out the houses and residences of ministers and big businessmen. They have house even better than top class Americans. We live in a country where a BMW and a bull-cart travels side by side. And the main reason for this is black money- crores and crores of money not accounted to legal taxes. Now, everyone knew about it’s existence, since ages. There have been films even on this. Like Special 26 (haven’t watched it, but heard it was on black money). But, not a single person took any step towards this. Because, the ministers themselves were sitting on a throne of black money. The banks were suffering big losses. The market was seeing a growing inflation of prices. You may hear lot of ‘banning black money’ promises in election campaigns. But, not in a single term, we saw any serious step towards eradication of black money.
But now this man, our respected PM comes with an idea that is often mentioned in Economics, about how to ban black money. He decides to completely ban the high denomination notes, that is, 500 and 1000 rs notes. Now, I would simply list down some Pros and Cons that I think, this massive decision gives us.
- This decision have really caused lots of black money holders in trouble. Income Tax Commission were always after them, so instead of depositing money in banks, they kept them in house, in lockers, beneath bed sheets. Now this decision forces them to deposit the money in bank to get new notes. Now as soon as they deposit, they’ll be interrogated, and soon a lot of punishable fees will be charged. Only way to escape the offense:burn down the notes.
- Many villagers are now compelled to form a bank account. Under this government, a new scheme called ‘Zero Balance Scheme’ was started, in which anyone with valid id proof can form a bank account even if he/she doesn’t have enough money for first time deposit. So now that they have bank accounts, they’ll be exposed to lots of schemes, that offers them to deposit a certain amount of money every month, and in return, when it matures, get a greater return of money as interest.
- The new notes are said to be much more advanced in terms of security. Forgery will be difficult, and chances of fake notes will be reduced.
- Lots of cross border smuggles of drugs, armed weapons will be stopped for a while, due to lack of new notes. The terrorists with loads of 500 and 1000 rs notes are now helpless as to how to get new notes from banks. Surely, they’ll fit someone and get the new notes, but it will take time, and thus put their activities to a temporary halt.
- The secrecy with which the entire thing was decided and analysed, is just awesome. In a country with 100 media channels ready to sneak in and leak secret works and stuff, the government carried this whole process of economic analysis without a sound. Even the most cunning newspapers and TV channels didn’t got a clue as to what was Modi going to address in the meeting on 8th November, 8pm.
- First and foremost difficulty is the inconvenience. Such a sudden decision caused lots of people to panic. Even though there are thousands of people with black money, rest millions are no one but innocent people who work all the week to earn their money. Now some sensible deposit their money in banks. They are the most tension free people today. But the problem is with those who have huge cash amount in bank. Lots of people in villages save their money in safe or lockers within house. Now when they go to deposit such huge amount, a huge tax will be levied, causing them to lose a great amount of hard earned money.
- Second is the transaction problem. At the beginning, only 2000 rs are brought to market. Now, if you go to bazaar, and buy 700 rs fish, and give the seller a 2000 rs note, it’s quite against odds that he will give you 13 100 rs notes. 2000 rs is not of much use to common people, as is 500 rs or 1000, so transaction for few days is going to be a problem.
- And last but not the least, the political agenda. There are some foolish politicians, who look into nothing, see who has taken the decision, checks his/her ally list to check whether the party who has taken the decision is friend or not, if not, then they start criticising the government policies like parrots. They always politicise whichever issue they get, and never allow the ruling party to bring in something that will really help the country. But the way they are conveying to common people saying it’s a scam and all that, puts the current government on a doubt of existence in the next term.
Thus, given the pros and cons, it’s now time for you to decide. For me, I believe, on one side, there is inconvenience. Yes, lots of inconvenience. But in other side, there is a much greater propaganda-a hope for a brighter future of this country. We don’t need to support a political party to support a good decision! If you are a Messi fan and you love soccer from heart, then you are bound to appreciate a magnificent Cristiano Ronaldo free kick! That’s what is in here! And I simply hate how this thing is being politicised. It shows nothing but the miserly attitudes of the leaders, who cares nothing but their victory. Who are oblivious of what is good for the country and what is not.
So, as I said, we don’t need to support a political party to support a good decision. As responsible young men and women and future bearers of the country’s torchlight, let us just forget the politics and simply support whatever is good for us. Because a government can do nothing without the public support. They need it. Especially now.