Public memory is very short. People have forgotten what was promised by Mr. Narendra Modi before coming in the power and what he did immediately after coming in the power. First six months his ministers and sadhu-sadhvis kept people busy in giving boost to the meaningless discussions on governments attempt to introduce Vedic knowledge. technologies and language in the education. The Vedic planes started flying in the scientific meets. Mr. Modi told blatantly before the medical professionals how plastic surgery was an ancient Indian invention. Intellectuals and common people were lost in that discussion, forgetting all other issues. A new creed, Bhakts, started admonishing the critics to give PM more time for prime minister has to repair the (imagery) immense damages of past 60 years and that what he was doing was to benefit the nation. They demanded first three months…then six months and now they demand whole term to show the results! The insanity of the half-baked Bhakts is reaching to the new heights every day!
Hindutva agenda could not be forced ahead much despite all the efforts! Prime Minister recklessly started making new announcements. Svaccha Bharat Abhiyan was introduced and celebrated creating a new hype and a tax was imposed on the people. Where has gone Svaccha Bharat scheme? Much hyped Ganga cleaning saw thousand of crors washing away with its filthy water. Bullet Train proved to be a bogus dream as no further concrete step was taken. Then was introduced an event of “Smart City”. The cities those were announced for this program proved to be smarter than PM’s scheme and meager budget allocated.
Then came Make in India, Stand up India, Digital India, Jan Dhan Yojana, Krishi Sinchan Yojna and so on. Every announcement followed a hysteric hype. People forgot to check what happened to the previous schemes. Neither Bhakts bothered to have track of their false defense. Such kind of defending Bhakt brigade is becoming a curse to this government.
In the meaningless slogans, plans and discussions two and half years slipped by. There has been no significant action on any front, even defense. Situation in Kashmir deteriorated. Terrorists could walk in the heart of Army camp and kill the soldiers. To show he is not idle, the government made another event of surgical strike. It was insane to disclose secret army operations before the world. But Modi government did it. It was boasted by the Defense Minister that now Pakistan is trembling with fear…and to his surprise (and to our bad luck) the terrorists again entered Nagrota army camp and took lives of our soldiers. The Government did not feel it necessary to equip our soldiers those are on the boundary, with modern vigilance equipments! In short, if we look at the outcome of the governments all the announcements we will be left in the depression.
And he, Mr. Modi, came forward with another spine breaking blunder of demonetization. He said that the decision is to remove black money, curb the corruption and counterfeit currency. Everybody welcomed this move. But as days passed after making the currency illegal from the midnight of 8th November, it dawned on everybody that the government was not at all prepared to handle replacement of the old currency with new one. The most illogical part was he introduced 2000 bill first which anyway was useless as there could be no change available to the user in the market. The farmers and daily wages dependents were the first victims of this move. Farmers neither can sell their produce nor can buy seeds and fertilizers for the new farming season. The economy has brutally been crushed as most of the transaction came to the halt. It is feared by the economists that the burden of this loss is so immense that it may take years to recover fully.
Mr. Modi, suddenly stopped speaking about black money and counterfeits as soon he realized the futility of his exercise and started another slogan-game of Cashless India, which never was the objective of his blunder at all. He might have realized what the stark realities he has to face after taking a mindless decision, but it seems he is in no mood to correct the things. To save economy from the coming doom he could have taken some positive steps to boost the morale of the people and so the economy.
It is a fact that most of the people have gone in the pessimistic mode and are trying to cope up with the disastrous situation by changing their lifestyle. They are managing their meager cash (or credit) to spend only on the necessities avoiding what they in usual conditions would have spent. Another factor is bothering the people and that is uncertainty of the future. They do not know when and what another bombshell PM will explode with his announcements. The announcement about the gold was an unnecessary exercise. That was old regulation. There was no necessity to impose fear among the common people. All these factors, such as changed lifestyle, habits, purchasing patterns etc. can cause a heavy blow to the usual economy. Economics is a human science, runs almost on the psychology of the consumers. This imminent danger is looming large and complete collapse is possible if the currency crisis is not sorted out within a fortnight at the most. But management skills of the Modi government are so poor that it could prove to be a false hope. And yes, FM is saying he needs at the least two quarters (six months) to normalize the currency situation.
In this vast span of the time, it is very much possible that the usual demand pattern will change to need-based commodities. Trust in the banks and economy will evaporate. This is dangerous situation no one would like to fall in to! As an impact, this will be a heavy blow on the production and so the employment. It has to be ensured that nothing happens of this sort and the trust is restored by making the positive moves. For example either Mr. Modi can reduce the Income tax or abolish it forever by just keeping indirect taxes. Alternatively he can reduce the rates of proposed GST or present indirect taxes if he wants the present Income Tax system to be continued. Simultaneously, he can start implementing additional infrastructural projects thereby providing a booster to the economy and restore the normalcy. Somehow, Mr. Modi has to ensure that the trust of the people in the economy must be restored.
Talking of the cashless economy is making fun of the people! Though the cashless transactions are bound to grow, still they will be very meager as compared to our overall economy!
All the time PM cannot depend on his brainless Bhakts and lies of Arthakranti. Their mindless, illogical and mostly foolish defense is dangerous to the present government. This is not economic by any standard to boast of. Rather it is an unprecedented Man-made Economic Disaster that India ever has witnessed. Mindlessly playing with the economy is unaffordable to the country and its citizens. Mr. Modi has to come out from his boastful cocoon and see the harsh realities people are facing. Last two and half years were unproductive and this demonetization move is taking India in the dark crevasse of economic doom that none should forget. I am sure the Indians did not vote him in for such suffering and destruction!
We all are aware now the objectives of this scheme utterly have failed. No black money issue is being sorted out because of this. The corruption is on new height. There is no enough staff with Income tax department to manage all the new assessments and prosecutions. Even there is not enough staff with Sales Tax and Excise Duty authorities to keep the check on every transaction. This scheme may make IT officials richer as they are gifted with an unforeseen opportunity by the government itself. The objectives those Mr. Modi talked about have already proven to be misleading, futile and day-dreaming. As a result economy is shattering.
Only immediate positive moves can save everything from the outlined forthcoming imminent disasters.