The question that has those ‘oppressed’, by the recent ban on Rs.1000 & Rs.500 promissory notes excited, is basically – How far will this ‘Drive to Root Out Black Money’ go?
Two counter questions answer this eloquently –
1. Hasn’t Narendra Modi staked his entire political career & that of the BJP and it’s leaders by this move?
2. Can he roll it back?
The answers are obvious. Economy and commerce basically run on exchanges – from ‘Barter’ to ‘Promissory Notes’.
Are there any other exchanges? – Yes many. As many as innovation and guile create! Both tangible and intangible.
Taking on any illegal tender is like taking on an entire system that runs at the very foundation of a country’s economy and commerce.
Reversals will result only in catastrophe for the initiator as well as for the country.
Hence, the recalling and declaring the two promissory notes illegal is only the start of a long drawn war that will need to be sustained with as much enthusiasm as it has begun.
Any roll back will raise fingers and the motives questioned, dropping the whole exercise into the usual banal allegations of graft & benefits to those close to power.
No political party that has come to power after 10 years and hopes to remain the tallest political entity, can afford to retreat from the Juggernaut that it has initiated without being destroyed itself.
The timing of the ‘Demonetisation Move’ itself gives a clear indication, that before the next elections in 2017 onwards, results of this demonetisation drive are to be used to convince the common man in the country about the intent of the BJP-NDA combined Government.
Obviously, other tenders such as Property, Land, Farming, Water, Every Industry, Bullion, Stock Exchange Burgeons & Shrivels, Hawala, Matka, Angadia, Cricket & other forms of Betting, Movies, Co-operative Banks and Lending Agencies, Media, Judiciary & Judgements and every other innovation to side step the tax-man and legal economy & commerce, will now have to be addressed, to convince the common man on the ground that the intent of the Government is good and to generate the ground swell that will assist the campaign against all forms of “Illegal Tender”, tangible or otherwise.
It is a long drawn overhaul of the system and cannot be rolled back by anyone except those who foolishly believe that they can still continue to ‘Fool’ the common people in the street and have misjudged their anger, helplessness and the power.
Any one standing against this move, can only have their motives & integrity (All that the common man really ascribes to a politician) questioned. The Bihar CM Mr.Nitish Kumar has shown that intellect and wisdom while other political parties are still counting their ill-be-gotten-soon-expiring-promissory-notes buying time and trying to be eloquent to their constituencies about their lost arguments.
This Juggernaut is just starting.
The sequencing, timing as well as the durations of each move will be interesting.
Discerning “Intangible Innovative Black Money Creation Methods” will in itself be a challenge and I’m sure the Government is working on it.
How clean are the conductors, will be an intense debate leaving no rooms for even oversights, leave alone being participatory in any illegal tender. In fact the opposition will be noting every move and their own investigations would have already started to target the Government and its drivers once they are out of power, which does not seem any closer at this point of time. The BJP-NDA would have warned its members about the unceremonious drop from grace and legality they will face in case they are caught out of tune of this steam-rolling barrage that has begun.
This is the most interesting story being followed across the Globe, across the divide of the tangible and the intangible illegal tenders. Every one is waiting to learn more about the positives and the negatives of this monumental sweep.
Yes, this is a fantastic story and is set to be a landmark in history!