Narendra Modis bold decision of banning 1000 and 500 rupee notes drew the expected attention from the world, and as usual condemnation from congress and communists. It’s the most chewed gossip among the Indians which drew jokes, trolls, appreciation as well as criticism.
There are various aspects of looking at this decision, from economic side and from social side as well. Indian economy was on the threshold of reformation and deformation; hence staunch and strict steps were inevitable. By taking these steps Modi Ji once again has proved to be the strongest PM of India. This decision was expected from the earlier prime minister Dr Manmohan Singh himself, but due to inability he couldn’t do that.
Narendra Modi a Sanghi Chaiwallah turned Prime Minister has proved to have better understanding of economy than Manmohan Singh a renowned economist.
While in 1991 India faced severe economic breakdown, International Monetary Fund (IMF) suggested to appoint Dr Manmohan Singh as finance minister in order to save our economy. Such man when became the PM absolutely grew the aspirations from entrepreneurs and economists but he couldn’t overcome black money and corruption, he couldn’t be the saviour of Indian economy.
This decision may not stop corruption in its entirety but this is going to be the major blow to the Naxalite hives and their hard-earned money and the fake currency from Pakistan via Nepal for supplying among terrorists. By nabbing their nerve Modi ji has broken the backbone of these anti India forces. This is the reason why leftists are criticizing the decision. At least for next few years’ Indian forests might breathe freely.
Another impact is going to be on the upcoming elections of Uttar Pradesh and other states. Money has always remained an important factor in Indian elections. Due to unavailability of the required liquid cash these elections will be fought on development rather than money.
One needs courage to take unpleasant decision which can affect traditional voters
This decision will largely affect the small-scale businessmen who primarily do cash transactions. Gujarati and Marwari communities are having upper hand in such businesses, and these communities are one of the major voters of Bharatiya Janata Party. Unlike other decisions this one is not being appreciated by them. But with popular decisions one need to take timely unpleasant decisions for the welfare of the nation.
Once again this decision has proved that one need not to have oxford degree to take good decisions.
