No matter how much spin Mr. Jaitley puts on it, the fact of the matter is that the demonetization has failed to achieve its prime objective. 99 % of the demonetized currency in back into the banking system. So, there is hardly any windfall gains for the government from the unaccounted for cash. A negligible amount of fake currency has been discovered which is par for the course in a country like India. As far as the digital transaction is concerned, the economy is pretty much back to pre-demonetization days. Never have so many been put to so much trouble for so little. Absolute chaos for months, hundreds dying in long suffocating queues, thousands of jobs in the informal sectors destroyed like Vandals assault. The sheer arrogance and ineptitude of the government! The Prime Minister's deluded and self-righteous anger has been neatly packaged and sold to the gullible masses that he is against all odds, fighting a holy war on behalf of the poor against the rich.
Wednesday, 30 August 2017
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