MODI'S MAJOR MISTAKE
On the evening of the 8th of this month we were all struck by that ominous announcement whereby the high denomination currency notes would cease to be legal tender. Amidst the pandemonium caused all over we heard various voices praising the move as a major blow against black money, against terror funding and in support of honest people.
In the aftermath we have seen many tragic events such as the death of the aged queuing up to change money, the poor peasant who had just concluded a sale of land and saddled with demonetised notes and amongst others the frugal housewife who had stashed away savings from housekeeping money. There continues to be a shortage of the new currency and overall the small traders and shopkeepers find a drop in their revenues.
Economists have predicted a dip in economic activity that would have a bearing on the GDP and proclaim that it would take a while to restore economic equilibrium. The pain has been widespread and covers all classes and sections of the vast population in this land. Slowly it seems to be dawning on people that the promised gains may not be in fact realisable and that politicians are at their old game of selling dreams.
At this juncture it may be worthwhile to look back and ask a belated question. Who are the people who were behind the sweeping victory of the Superman of Gujarat who made that great leap into the throne at Delhi? They are the same people who will now be rueing their support, the same small traders and businessmen, the same starry eyed people who were looking for a messiah, all those same people who now feel terribly let down.
'In one fell swoop,' the Bhakts said, and lo it now seems that in that same fell swoop has Modi alienated large numbers of his followers who led him to the throne. They had never expected to be let down in such manner, for those were the same high denomination notes that they had so mistakenly spent in backing Modi
On the evening of the 8th of this month we were all struck by that ominous announcement whereby the high denomination currency notes would cease to be legal tender. Amidst the pandemonium caused all over we heard various voices praising the move as a major blow against black money, against terror funding and in support of honest people.
In the aftermath we have seen many tragic events such as the death of the aged queuing up to change money, the poor peasant who had just concluded a sale of land and saddled with demonetised notes and amongst others the frugal housewife who had stashed away savings from housekeeping money. There continues to be a shortage of the new currency and overall the small traders and shopkeepers find a drop in their revenues.
Economists have predicted a dip in economic activity that would have a bearing on the GDP and proclaim that it would take a while to restore economic equilibrium. The pain has been widespread and covers all classes and sections of the vast population in this land. Slowly it seems to be dawning on people that the promised gains may not be in fact realisable and that politicians are at their old game of selling dreams.
At this juncture it may be worthwhile to look back and ask a belated question. Who are the people who were behind the sweeping victory of the Superman of Gujarat who made that great leap into the throne at Delhi? They are the same people who will now be rueing their support, the same small traders and businessmen, the same starry eyed people who were looking for a messiah, all those same people who now feel terribly let down.
'In one fell swoop,' the Bhakts said, and lo it now seems that in that same fell swoop has Modi alienated large numbers of his followers who led him to the throne. They had never expected to be let down in such manner, for those were the same high denomination notes that they had so mistakenly spent in backing Modi
