Prime Minister Narendra Modi promised that the demonetisation troubles would end in 50 days. As the deadline draws near, ATMs remain dry and people are asking whether their pains were worth the gains.
It is no coincidence that ‘notebandi’, the demonetisation of high-value notes by the Narendra Modi government, sounds a lot like ‘nasbandi’, the infamous sterilisation drive during the Emergency under Indira Gandhi. With long queues outside ATMs that seemed perpetually dry, the country has almost been cashless since Modi announced the demonetisation of 500- and 1,000-rupee notes on November 8. Curiously, that timed perfectly with his campaign for a cashless India or, as he twisted it, a less-cash India.
As cashless economy became the main focus, the talk of black money and counterfeit currency took a second place in the government’s scheme of things. The benefits to the economy and people of buying, borrowing, paying and selling without currency notes became the discourse from South Block, the Reserve Bank and the NITI Aayog. Indians, who had almost entirely been dependent on cash, were hurtled into a digital financial future, and most of them were caught unprepared.
Indians in cities have been using credit and debit cards, net banking, and even e-wallets to shop online, book train and flight tickets, make hotel reservations and pay the cabby, and even the maid and driver. It is those in Bharat, who are feeling let down, as in many cases their livelihood is threatened. “Modiji ne kaha ki amiron ko, paise walon ko line mein khada kar diya..lekin hum hi line mein khade hai,aur paisa hai hi nahi. (Modiji said he has made the rich stand in line, but it is we who are in the line, and there is no money.) One hears it very often in rural India.
Denne historien er fra January 01, 2017-utgaven av THE WEEK.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra January 01, 2017-utgaven av THE WEEK.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Themes Of Choice
As Savvy Investors Seek New Avenues, Thematic Mutual Funds Are Gaining Popularity
A golden girl
One of India's most formidable beauties passed away earlier this month. The odd thing is she would absolutely hate this obituary; she hated being written about and avoided publicity for all of her nine decades. Indira Aswani was 93 when she died. But anyone who encountered her, even briefly, was in such awe of her grace and poise, and one could not but remember her forever.
The interest in wine is growing delightfully in India
The renowned British wine writer and television presenter Jancis Robinson, 74, recently came to Delhi and Mumbai to reacquaint herself with India's wine industry. This was the Robinson's fourth visit to India; the last one was seven years ago. On this trip, Robinson and her husband, restaurateur Nicholas Lander, were hosted by the Taj Hotels and Sonal Holland, India's only Master of Wine.
United in the states
Indian-Americans coming together under the Democratic umbrella could get Harris over the line in key battlegrounds
COVER DRIVE
Usage-driven motor insurance policies offer several benefits
GDP as the only measure of progress is illogical
Dasho Karma Ura, one of the world's leading happiness experts, has guided Bhutan's unique gross national happiness (GNH) project. He uses empirical data to show that money cannot buy happiness in all circumstances, rather it is family and health that have the strongest positive effect on happiness. Excerpts from an interview:
India is not a controlling big brother
Prime Minister Tshering Tobgay considers India a benevolent elder sibling as the \"big brotherly attitude\" is happily missing from bilateral ties. He thinks the relationship shared by the two countries has become a model of friendship not just for the region, but for the entire world. \"India's attitude is definitely not of a big brother who is controlling and does not allow the little brother to blossom and grow,\" says Tobgay in an exclusive interview with THE WEEK.
Comrade with no foes
Lal Salaam, Comrade Yechury-you were quite a guy!
Pinning down saffron
In her first political bout, Vinesh Phogat rides on the anti-BJP sentiment across Haryana
MAKE IN MANIPUR
Home-made rockets and weapons from across the border are escalating the conflict