When Narendra Modi announced Demonetization of 500 and 1000 rupees note, I was one among the person who supported that. I was really happy about the motive of demonetization.
He had 3 major agenda for demonetization,
- Abolish Forfeit currency
- Abolish Black Money
- Cashless society.
Let’s see that one by one.
Forfeit Currency
Yes, Government was able to abolish Forfeit currency from the society. Demonetization made 80% of currency in the circulation as invalid and thereby anti national activities has been completely stopped. So as far as Abolishing forfeit currency, I would consider demonetization as super duper hit.
Black Money
Narendra Modi quoted that, demonetization will help in abolishing the black money from the market. He gave enough time for the public to exchange their old 500 rupee notes and 1000 rupees note. People stood in long queue and exchanged their old notes. It was seriously a mess for the common man. All earnest tax payer and common man stood in the queue to exchange their note. But unfortunately, common man couldn’t find single black money holder in the queue. Because,they were busy in exchanging their black as white in the back side. At the end of the day, it was only common man who suffered without currency. Demonetization affected common man, than black money holders. So as far as, abolishing black money it is the biggest flop for the government. And I don’t find any mistake with government on this. Indians(black money holders) had made this flop.
Cashless Society:
Well, moving towards cashless society and improving the digital transactions was given higher priority during the demonetization. But unfortunately, government slowly started re monetizing. Almost all the demonetized notes are introduced back to the society. I am still wondering on, why they demonetized and they re-monetizing currency notes. During the initial period of demonetization, people were actively doing digital transaction. Now, everything is back to normal and thereby leaving to another flop.
Result:
So if you look at the impact of demonetization, pain and sufferings faced by the common man was very high than the extra ordinary citizens. It didn’t create big impact.
2/3 mission wasn’t successful. Altogether, I would say that demonetization is partial flop and Narendra Modi should apologize common man who suffered during the demonetization.
Cheers!
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