Former Prime Minister Manmohan Singh’s balanced and unbiased views on the issue of demonetisation are welcome (“Making of a mammoth tragedy”, Dec.9). The biggest issue in this exercise of unplanned decision-making is that the common Indian is struggling to have access to his hard-earned money. It is no exaggeration to say that the economy has taken a hit as most businesses in the unorganised sector are staring at closure. The demonetisation move is hardly affecting the real culprits as they have found the tools and methods to make black money white.
Karan Choudhary,
Pathankot, Punjab
The after-effects of demonetisation are indicative of the government’s state of ill-preparedness in facing a liquidity trap and other consequences for the common man. A war on black money should not be an attack on the means of sustenance of people who include the differently-abled, farmers, single mothers, small businesses and villagers. Small shop owners and villagers find the logic about this being an attempt to tackle black money hard to digest as they cannot understand why they are being made to suffer for no fault of theirs. The government’s demonetisation decision amounts to draining water in a pond which has a few crocodiles and hundreds of fish.
Manzar Imam,
New Delhi
One cannot miss the fact that even construction workers are affected which is one example of a violation of fundamental rights to conduct business and employment. Given the ripple effects of demonetisation, it is almost certain now that the government had no idea of the difficulties that would unfold. There is no harm if the government accepts its unpreparedness and recalls the notification. Let the bill to tax black money remain in statute. This will allow people some breathing space and enable businesses to run.
Gopal Nathani,
Gurugram, Haryana
The article is a point of inflection brought to us precisely a month after demonetisation. I also admit that I am a staunch admirer of Prime Minister Narendra Modi and believe that his vision for India has substance. Now for the statistics available in the public domain: it is official that cash deposits have crossed the Rs.11.5 lakh crore mark. What remains in the circulation is around Rs.2.5 lakh crore; there was Rs.14 lakh crore worth of currency in circulation on November 8. I am sure that around Rs.1.5 lakh crore more will find its way into bank accounts. So, it is up to readers to conclude the veracity of claims made in the wake of this mammoth tragedy. For the sake of comparison, the total budget expenditure for 2016-2017 as per the Union budget 2017 report is Rs.19,78,060.45 crore. If Mr. Modi has played a disastrous masterstroke of demonetisation, the editorial page article is a masterpiece of views and well-laid opinions by an economic stalwart.
Dr. Gramle Amol,
Bengaluru
Demonetisation has been politically clever but economically disastrous. Its consequences are still unfolding before us. The attempts to politicise this issue further and paint those against the move as being in support of black money are examples of divergence from the main issue, as is inherent in Indian politics. Since there is no possibility of a roll back, the government should introduce policies to address the issue of black money and aid honest but helpless citizens.
Drishti Vishwanath,
Madanapalle, Andhra Pradesh
It was surprising to read the article written by Manmohan Singh the politician. How can he afford to miss the gains India will make in reducing our dependence on currency? In jewellery and textile shops, for instance, most people do not ask for a bill in order to avoid paying tax. If all these transactions are now done through electronic channels, the increase in revenue to the government by way of taxes will be considerable. To those who argue that it is foolish to expect everybody to become tech-savvy overnight, my answer to them is this: I feel it is all a question of attitude.
B.C. Unnikrishnan Nair,
Kuthiathode, Kerala
The article is again a reflection of Dr. Singh’s casual approach in addressing one of the major problems before a booming Indian economy and polity. During his tenure as Prime Minister, the country was rocked by scandals. In the 2014 general election, the fight was about corruption and we have a government mandated by the people of India to root out corruption. The common man is also aware of the fact that theoreticians can only give explanations and not practical solutions. The former Prime Minister should have shared his vast experience and expertise to address the present difficulties.
Suresh Rangarajan,
Thiruvananthapuram
