The demonetisation move is no doubt creating distress for the people, especially senior citizens and the poor, but many economists have praised the government’s effort to curtail the flow of black money (“Artificially created distress”, Nov.16). People are cooperating with each other and with the banks. I have seen students help golgappawalas use mobile phones to accept payments so that businesses aren’t affected. In my locality, more and more shops are now putting up posters saying ‘Card accepted’, ‘Paytm accepted’, etc. In small shops where there is no point-of-sale machine and customers do not have access to the Internet, shopkeepers are sitting with data-enabled mobile phones asking customers to add money to their e-wallets using cards. These are healthy changes. The situation is not that distressing that the move needs to be revoked. The government is coming up with an extra measure every other day to reduce discomfort. But immediate steps need to be taken to help mandiwalas, small retailers, rural labourers, artisans and farmers so that their livelihoods aren’t affected.
Saurav Kumar,
Bihar
The response of the better-off sections, including those who write in these columns, to demonetisation makes me wonder who the present Indian nation really belongs to. A nation, if it is to claim a sense of belonging among its members, should require all sections of people to make equal sacrifices for national well-being. Instead, one is witness today to members of the privileged elite reposing faith in the current regime by making grand shows of support and loyalty to the nation while implicitly demanding that the poorest bear the burdens that such nation-building imposes. In the chaos unleashed by the ill-conceived move — which is little more than the replacement of currency notes — it is the poor who are suffering greatly. Loss of daily incomes can only push the poor into vicious cycles of indebtedness, which the larger policies of the government have really done nothing about. The hard-earned savings of those who, for very many reasons, have not been able to open a bank account stand liquidated. For all the fine talk, senior citizens who are not Internet-savvy and familiar with plastic money are also suffering. What is striking is that all this needless suffering was totally avoidable with better planning.
This has a parallel with the elites’ constant reference to the sufferings of the Indian Army to feed rampant jingoism that keeps public attention away from their rapacity.
Any such critique is immediately met with mindless accusations of disloyalty to the nation, which is what makes one wonder, who constitutes the nation? Is it the minuscule minority of the Indian population that wields plastic money alone? The praise that these favoured elites now heap on the ‘patience of the people’ is nothing but rank cruelty. This section of the Indian population resembles the blind aristocracy that drove ancient Rome into utter ruin. May that not befall this country; yet one cannot help telling such people who now stumble towards their own historical doom: Remember, the Mills of God grind slowly.
J. Devika,
Thiruvananthapuram
The author has been very critical of the government’s move. A friend of mine, a senior bank manager of a leading nationalised bank, told me how some hoarders brought bundles of Rs.500 and Rs.1,000 notes to the bank counter without even knowing how many notes there were in the bundles. Any radical step may see some teething troubles, but its results will be known only after some time. Since the Rserve Bank of India and the Finance Ministry are burning the midnight oil to tide over the temporary crisis, everyone should cooperate with the government and should try not to nitpick. Previous governments did not even attempt any such measure for reasons best known to them.
S. Nallasivan,
Tirunelveli
I am 74 years old. I could withdraw Rs.10,000 from my bank account within 10 minutes of reaching there by issuing a self cheque without any hassle or paperwork. The long wait is only to exchange demonetised notes. There is no trouble in depositing/ withdrawing cash from your own bank account.
M.N.S. Thampi,
Thiruvananthapuram
It is true that our normal routines have taken a hit. It is also true that daily wage labourers, poor peasants and the poor in general are the worst hit. Valuable man-hours are being wasted in long queues; people are often returning empty-handed even after standing in queues. Many ATMs don’t work. So, yes, the overall situation looks grim. But the demonetisation measure is no evil and there is no need to demonise it. The government and opposition parties must not fight at this crucial moment; they can hold consultations with the people to solve the crisis. In the end, if there is transparency, corruption will come down.
Kush Mehndiratta,
New Delhi
The decision to apply indelible ink to check repeated exchange of money is done without forethought (“Now, ink to deter repeat cash swap”, Nov. 16). What if a person has demonetised currency worth more than Rs.4,500? Should he or she forgo the balance amount even if it is a legal amount? During elections, voters are inked as per the Conduct of Elections Rules, 1961. According to which legal provision is the government inking the fingers of those who exchange notes?
The various restrictions that the government is imposing now are justified in the event of a financial emergency. Let the government declare a financial emergency under the Constitution. This would give it the legal authority to impose restrictions on all monetary transactions.
K.R. Jayaprakash Rao,
Mysuru
