Monday, November 14, 2016

Demonetisation drive is Swachh Bharat in the economic front.

What is now happening after Modiji made that announcement on the demonetisation of 500 and 1000 rupee notes is a movement. It is a kind of Swachh Bharat in the economic front. All of us are part of this movement to clean the country of the unaccounted cash. In any movement, some amount of labour and sacrifice would be there. Let people consider so while waiting at the ATM or curbing their expenses for now. Everyone waiting at the ATM can hold his head high that he has nothing hide but is standing there as an honest citizen to exchange his hard earned money. Only the likes of Mamata, Kejriwal and separatists are the shocked lot. The fact that there is no ceasefire violation by Pakistan at Kashmir border and no stone pelting in Kashmir since then is proof of what the Government has been saying on counterfeit notes sent by Pakistan. There is of course news on how hoarders are trying to hoodwink but it also appears the Government is well prepared to handle them stage by stage.

44 lakh worth banned 500 & 1000 rupee notes offered at Jalagandeshwarar temple in Vellore dist of Tamilnadu by an anonymous donor.

Already the readers would have read a whole lot of implications of this move through many sources of communication. I have nothing new to add except making a blog on this topic to express my support for Modiji that I am / we are with him in this drive to cleanse the economy.

In this context I am posting below an article that I found good enough to drive home the point that the media, particularly the TV channels are making an unnecessary fuss over the inconveniences that we as part of this movement have to put up with. They have to be ignored or exposed but never given importance. Also all such stuff appearing in print media should be ignored and not circulated to create a negative opinion on this drive. Instead the everyday news on how currency notes have been discarded or pushed into banking system by luring poor people do so for a commission must be publicised to create awareness on how these should be condemned. We have to do a thorough job of cleaning the system of the dirty money in whatever way possible.

- Jayasree


Most Indians are happy with Modi's demonetisation drive, don't trust TV news



The Berlin Wall fell on November 9, 1989, in an ocean of flashlights and confetti.
But behind the joy and hope of unification lurked the pain of actually merging the two Germanys.
When the process began in 1990, East Germany had a per capita GDP of around $11,800 while West Germany's was $27,000.

To bridge that chasm, chancellor Helmut Kohl privatised some East Germany's state-owned enterprises, which wiped out four million jobs over five years.

Over the next 25 years, the former West Germany reportedly bled out two trillion euros to the East in transfer payments.

It took deep reserves of that famous German grit and about painful 20 years for the country to not just recover, but emerge as the world's fourth largest economy and a shaky Europe's chief economic engine.

Defining changes do not come without some pain. When Manmohan Singh took up the computerisation of banks as RBI governor in 1982, the powerful bank unions and lakhs of ban employees feared huge job losses.

Slowly over time, and not without pain, the sector got computerised and revolutionised.
Exactly 27 years after the fall of the Berlin wall came PM Narendra Modi's strike on fake currency and black money - unparalleled in its scale and scope - from November 9.

It may make us stand for hours in queue or hold on to the small notes till the chaos in banks and ATMs settle down, but given what it has already achieved and promises to do, the nation must bear a couple of weeks of inconvenience patiently.

And although TV cameras will only show the queues and angry people, my sense is that a majority of honest Indians are happy, a bit vicariously, that billions worth black money has been wiped out in one swing of the wand.

Watchmen, cooks in little restaurants, carpenters, maids, shopkeepers, sweepers… almost all the people I have spoken to in the last three days have a calm, mature understanding of the effect this will have on the corrupt.

But these voices don't make good television. Countries like Zimbabwe, Singapore, Fiji and Philippines have demonetised for different reasons.

India had a very compelling reason too. Enough for Modi to take the massive political risk of angering the BJP's traditionally core constituency - the Banias, or the trading class.

Also, his rivals have been quick to fuel and magnify public annoyance over the teething problems.
The government could not have reconfigured ATMs without the corrupt getting wind of the announcement and overnight getting much of their illicit wealth converted to white.

But if the government does not invest all its energies into replenishing and recalibrating ATMs, festering inconvenience can undo some of the good work.

It will also give the caught-off-guard Opposition a stronger foothold to launch attacks.

But, right now, the BJP looks very confident. Party chief Amit Shah has dared rivals to take it up as an election issue in UP, Punjab and other states going to polls in a few months.

In one stroke, the PM has killed several thousand crores of illicit cash and fake currency, jolted rival parties' election spending, made funding of terror and insurgency extremely difficult, and pushed more Indians into the banking system and transparent financial transactions.

While a limited number of Rs 2,000 notes have been floated, there will always be great fear of hoarding cash now. Who guarantees that those notes too won't be barred in the future?

Demonetisation is not a foolproof measure against black money. But it attacks the problem with unprecedented force and at multiple layers.

It will be even more effective if the government follows this up with electoral reforms and a strike on dubious land and asset holdings.

With better planning and intense, follow-up awareness campaigns, the government can have people on its side even during the initial hardship.

(Courtesy of Mail Today.)


harinee said...

Maybe this could have been better planned but all citizens should support this. He has risked his political career on this and needs to be lauded for same. People don't realise that gold craze in India has significantly gone down already when the PAN card rule was implemented. Such a simple thing with so much impact but the old govt gave moronic proposals like access Temple gold to stop Gold imports.Intent was wrong when intent is right things happen.To view Gold given to Temples as money is a crime/sin in itself, people donated this to God on faith not to a corrupt govt.
If some politicians are so pained at people standing in ATM queues why not donate some money or food to the poor from own pocket.Seriously I have never seen some of these top politicians notably the hereditary rule family shell out even a single paisa from their pocket for any cause.

Unknown said...

Like most of the Indians, I strongly support this move and hope this move succeeds. In this connection, how do you see, astrologically, the coming days ahead for the Govt ? I do have great respect for you as an astrologer.

Jayasree Saranathan said...

Nearly 10 days after Demonetization began, some clear trends are becoming visible. The salaried class by and large support this drive despite the inconveniences. Small traders and businessmen who depend on cash flows are the handicapped lot though they can not be absolved of the economic offence of deceiving the Govt by false accounting. Those who depend on them have been hit as I heard many telling that their bosses have not paid them the salary.

The rich, the cini people and the politicians are the worst hit as the huge stacks of black money they hoard have no value now. The way Kejriwal, Mamata, Akilesh, Karunanidhi, Stalin and communists have reacted shows that they are indeed hit. The media houses are no far away from these people, thereby showing that they too are the worst hit. From the cini world, Vijay's discomfiture shows that he is hit. That means there are scores of other like him. It is now obvious that and he and others who wanted to pose with Modiji are not serious about supporting Modiji in cleaning the economy of the menace of black money and fake notes. All their talk of hardship to common people is crocodile tears as the entire exercise is supposed to benefit the common man in the long run. All those who are opposing this drive are quoting hardships to common man. Common man's money is not touched by this drive. Common man might suffer now, but ultimately his future is safe in a clean economy.

By now we can see crowds tapering down in the ATMs / banks. The banned notes are still accepted by many shops as there is time to exchange them for valid notes when they become available in due course. It wont be an issue for them who maintain valid sales account to deposit in their account. I feel that things would settle down soon.

But the Supreme Court's approach to this issue makes me think that there are red herrings in the judiciary too, seemingly upset with the demonetization trying their best to put spanner in this drive. The Govt must win this fight in the Court.

The world is watching us and the visit of Bill Gates meeting Modiji is a sign of appreciation of this move. The EU has welcomed this move and so too the Australians.

Coming to the question of Unknown (Is it Mr Ramanathan? Please keep your name in the ID) astrologically I think we have to refer to India's horoscope. The current period is that of Mars Bhukthi in Moon dasa. Mars is the 7th lord posited in the Dhana bhava in the Indian natal chart. It was just after Mars entered its sign of exaltation in the natal 9th house, this drive was put into motion. The Yoga karaka Saturn which is in the star of Dhana lord Mercury has exchanged houses with Mars and is aspecting transit Mars. Based on this I think that the drive has come at a best time and would bear fruit.

In my opinion Mars Maha dasa for India would be a good time when India would be identified as a powerful and rich nation. It starts in 2025. The current move and the series of reforms needed to be done in state funding of elections and the like would take that much time to make our country a strong nation.

Sheela said...

Dear Madam

Professionals in Medical & Legal are also affected parties, obviously Kapil Sibal types will fight for their cause.

I feel they should have directed to approach respective account holding banks than any banks which lead touts exchanging money in all banks. All the non bank account holders may have been streamlined to specific branches. Even today depositing money into account is not a problem which is not highlighted. Many poor have become temporary lakhpatis.

Time has come to streamline cooperative banks.

Fake currency issues are also downplayed by politicians n media. Understand that
this was to happen only in Dec n due to internal leaks operation preponed.

Mistakes do happen in such a massive operation & its easy to comment.
Still thumbs up to Modi!

Jayasree Saranathan said...

Thanks for sharing your views Ms Sheela.

I don't feel sorry for the doctors and lawyers as they are also part of the people who evade taxes for the fees they collect. Its time they properly keep the account of the fees they collect and use billing machines. On Kapil Sibal, he is trying to extract some political mileage out of this and nothing more. His talks are no different from that of Stalin and Karunanidhi. Karunanidhi has taken cue from SC's objectionable talks on riots and has called for an agitation. For whom this agitation? How many people are going participate in it? From where he is going to pay them in money? Or is it a ploy to get his agitators turn his dirty money given to them as fees into white by depositing in banks?

On the whole people should understand that Modiji had put heavy stakes on this move that it is more of national interest than of any political interest. Traders, business people and his entire support base of middle class people are inconvenienced in some way or the other. It takes tremendous courage, foresight, political will and above all patriotism to push this move ahead. That we have such a person at the current juncture must be appreciated well and we must stand by him to take this drive to its logical end.

Unknown said...

I am P L Chakraborty, generally comment under handle name 'Chakra'. The 2nd comment, posted on 16/11/16 under "Unknown" was my comment. Though I visit your blog frequently, I rarely post any comment.

Thanks for the detailed reply. Let's hope it ends well. I know that bankers in North India are changing black money to white money for a service fee everyday.

Jayasree Saranathan said...

Thanks Mr Chakra for being a frequent reader of my blog. It is a nice feeling getting many readers and getting their responses too. After all what for we are writing, if not for reaching out to many people. When I get comments I eagerly look at the name to know who has written. When you reveal your name, Chakra, I am able recall the old comments by you. It is certainly a fulfilling feeling when we know that we have loyal and regular readers. It is also the same feeling when we get new readers writing comments. In fact I am missing some of the old readers --to name a particular one Mr Skandan whose comments are no longer seen. This makes me wonder whether he had stopped reading my blogs and my blogs are no longer interesting.

On the issue of bankers indulging in scam, we have to expose it so that steps would be taken by the Govt to check them. You can post the names of banks and their locations where this malpractice is happening.

Unknown said...

Dear Madam,

Thought of responding to your comment pertains to your eagerness to know various people reading your postings. In fact, I have been a regular reader for the past 4 years ever since I stumbled upon "Thamizhan Dravidana". The point is, I am longing to share my thoughts on every posting you do, but the major problem is time constraint, secondly by the time the words conceived to respond, others already exhibit the same views much better than mine.
I believe this would be the case with many others.
Whatever, I am really thankful to you boldly, firmly propagating the Hindhu dharma, Baharatheiyam, and our real history. For my part, on every new like minded people I get to know, I tell them to visit your blog.

Venugopalan Srinivasan.

Jayasree Saranathan said...

Thank you Mr Venugopalan Srinivasan for writing here. I am glad to know about you. More glad that you have read Thamizhan Dravidanaa series. Every article in that series is research based and presented something new / unknown. I will revive it next year hopefully, when I will get more free time. That series has attracted many people and also passionate responses and counter responses from many. I think when an article evokes passions and emotions, many who have a stake at them or have connect with them, respond. Time factor is another reason, as you have said. I am thankful to you all readers who take time to read and share and respond. Regards.

Jayasree Saranathan said...

Thanks Mr Suresh. Taking money through cheque also does not take much time nowadays. A couple of weeks ago they issued tokens and asked me to come at particular time to draw money through cheque. But this Monday, I just walked in and got money in no time. No crowd.