Economy predicted to terribly slow down and pushed back to 3 years. NaMo’s Demonitzation, a black hole on Mahatma Gandhi’s economical thoughts.
“Economics that hurt the moral well-being of an individual or a nation are immoral and, therefore, sinful” -MK Gandhi
(Young India,13-10-1921, p. 325)
Demonitisation! An anti-corruption measure taken as a step towards bringing back “Black Money” has unfortunately made hard times even more harder for common citizens of India. Not to forget that the Swiss Bank account holders were not affected even for a fraction of second, as only the below average has been targeted by the NAMO Govt.
‘Modi boasts of his 56-inch chest, but what kind of son lets his mother go through that?’ PM’s 96-year-old mother queues up to change notes” Daily Mail made headlines on 15 Nov 2016.
Though many do not have a problem with the concept introduced by Narendra Modi overnight, but many and major amount of citizens label it as “terribly unsystemized”.
While some are busy praising PM Modi for his efforts in keeping his words, some who have lost their loved ones remain busy in cursing him as death toll reached 44 only in 6 days of Demonetization.
“Modi’s penchant for optics rather than substance was always annoying; but this time it has acquired truly damaging proportions,” said Jayati Ghosh in The Guardian on 15 Nov 2016.
Meanwhile Media had its own perspective:
“The government has rushed into a decision that is poor economics and may ultimately prove to be poor politics too,” quoted Huffington Post on 14/11/2016.
“It seems utterly ridiculous that no measures were taken to provide currency notes to millions of people across the country before such a big step was taken,” Prabhat Patnaik,an Economist told Al Jazeera.
“India could well lose its “world’s fastest-growing economy” tag, thanks to the impact of the de-monetisation of high-value currencies on its economy. This is so because real estate, gold and the informal sectors that see a high element of cash transactions are expected to slow down, according to India Ratings” quoted Ib Times on 11 Nov 2016.