In order to cover its failure to bring back black money from the Swiss banks which Modi led BJP had promised before 2014 Lok Sabha elections, Modi Govt. has resorted to dramatic and ineffectual measure of invalidating notes of denomination Rs1000 and 500. This step of the Modi Govt. for which no proper preparations were made have created a lot of hardships to daily wage workers, hawkers, vendors, small shopkeepers, common people in general. Modi Govt. in order to cover its embarrassment of doing nothing on what BJP President has termed as ‘jumla’ is resorting to creating a public perception of being pro-active in recovery of the black money.
This step of Modi Govt. displays scant regard for the concerns of the common masses. Rs.500 has become a very ordinary currency given the rise in prices of all the commodities. Even the daily earning of wage labour is near that amount. Modi Govt. must be well aware that these currency notes are used routinely by the common people. This step of the Modi Govt. has come handy to the black dealers of currency who have charged between 5 to 10% of the amount from common people. So many people have been stranded during their journeys and millions have queued up before the banks.… Read More