Dissecting 'Demonetisation'

Withdrawal of 86 per cent of cash in circulation has thrown the economy into a tailspin.

- MG Devashayam

DEMONETISATION is not the end but the beginning of a ‘long, deep and constant’ battle against black money and corruption and will benefit the poor and the common man.” This is what Prime Minister Narendra Modi told his Parliamentary party colleagues soon after pulling 86 per cent of cash out of circulation through this draconian measure putting India’s labourers, small-traders and farmers to immense misery resulting in over 100 deaths so far. The loyalists hailed it and passed a resolution endorsing his “great crusade!”

Let us take a reality check on the state-of-our-nation:

A, We are World No. 1 in absolute poverty far ahead of sub-Saharan Africa.

B, We are World No. 1 in farmer suicides. (if there is a global standard for this)

C, We are World No. 1 in human trafficking. If we add bonded labour, we will be World No. 1 in slavery.

D, We are close to the top in malnutrition and illiteracy. Half of India’s children are malnourished and underweight.

E, Eighty per cent our graduates are unemployable. Our unemployment figures are mind boggling with post-graduates and engineers queuing for menial posts.

F, Corruption is not only acceptable at all levels of society but it is aspirational. Our politicians and civil servants are mostly corrupt and judges are trying to catch up.

G, We have zero tolerance, not for corruption and falsehood, but for those who dare to speak the truth.

H, Our politicians are elected to power through a humonguously corrupt electoral practice. Most of them are either mafia themselves or mafia-sponsored.

I, Human life has no value. From 2005 to 2015, over 300,000 farmers have committed suicide.