Dear Arun Jaitley,
I am using this letter as a medium to not just address you but every individual who appeals to the Indian citizens to be patient and wait for the normalisation of banking operations. It is really great to know that you follow the famous quote ‘patience is bitter but its fruit is sweet’ by the great philosopher Jean Jacques Rousseau but how sweet will the fruit be for the people who don’t have enough to feed themselves? How sweet will the fruit be for the people who are losing their family members?
The death toll has crossed 50. But the question is not about the deaths; after all, blaming demonetisation for deaths is not really a civilised way of thinking. Scrapping high denomination notes is possibly one of the most brilliant moves taken by any Union government so far. So, no one is questioning this step except the opposition, because it is their political responsibility, of course.
But, people are questioning your ways of implementing the policy. Except some intellectuals, no individual is interested in the reasons for the urgency to put this plan in action. Still, everyone is being extremely patient. But, for how long? Being at the Centre and handling such an important ministry, isn’t it your duty to find out and understand the condition of the people? Farmers, daily wage labourers, patients—how long should they wait for our government to improve their implementation strategies? Give them a definite date and I am sure they will wait till that day. That is, if they don’t kick the bucket by then.
Way to go
We completely understand the situation at hand and we are all with you post the
demonetisation of Rs 500 and Rs 1000 currency notes. It might take us hours or even days to get our old notes exchanged or to withdraw money from our own accounts at banks and ATMs, but we know that it's all worth the wait. We appreciate all your sincere efforts to curb black money.
Though people in the unorganised sector are the worst affected by demonetisation, they are slowly coming to terms with it. Most of them, especially those in villages, are not all that familiar with the banking system. Now, they are making sincere efforts to open bank accounts and familiarise themselves with the banking system. Once the payments start being made through banks for those working in the unorganised sector, black money will be curbed to a great extent and the demonetisation move will be a great success.
Also, lots of money is being pumped into banks by the people, more than ever before. This will give the much needed boost to the banks struggling with high Non-Performing Assets (NPAs). Also, those seeking loans will soon, probably, enjoy loans at much lower interest rates. It is a win-win situation for everyone.
We should not forget the humble contributions of the banking staff. Ever since the demonetisation announcement was made, they have been working extra hard to make sure that most of the customers who turn up at the banks are served. They have even worked on holidays and weekends, forgoing their comforts. We should be thankful to them and appreciate their efforts whole-heartedly.
Surgical strike gone awry
Narendra Modi’s surgical strike on black money is truly a welcome step in the fight against the corrupt bureaucracy. But, this surgical strike has devastated the lives of common people. People are being patient hence your government is still going strong. But, there is a limit to our patience. Many people have lost their lives in the aftermath of demonetisation. People are being stressed out of the sudden change in the system.
A time gap would have paved the way for a smoother implementation of the system. The never-ending queues, the rush to get new currencies has disturbed the lives of the public. The common man is most vulnerable to such changes. Hence it’s better for the government to take measures before introducing a change in the system than requesting the people to be patient.
We choose our leaders to run the government and work for the welfare of the people, but we are being made puppets of political vendetta. We the people are resilient by force and not by choice.
You don’t have to be an economist like J.M. Keynes to understand that the government’s decision to demonetise high value notes, which incidentally constituted as much as 86 per cent of the currency in circulation, has had severe ramifications on the lay public and this sets at nought your much publicised intention to go after black money hoarders, counterfeiters, hawala traders and so on.
With people having to stand in queues all day long to withdraw the pittance that you have permitted, which in most cases would hardly be enough for their needs, isn’t it time you stopped thumping your chests and gloating over what you and your partymen would like to describe as a Modi masterstroke? You have counselled patience but have you for a moment thought how you would feel if you were in the shoes of a daily wage earner, a farmer without bank access or a father whose daughter’s marriage stands postponed or cancelled solely due to the whimsical step that you have taken.
You and your government have blundered big time, Mr Jaitley by not doing your homework properly. by not consulting experts who could have given you some sane advice and have conclusively proved that all this talk of caring for the poor and the downtrodden is pure balderdash. Your government exists only for the Ambanis and Adanis as it is their munificence that keeps you in power.
You have hit the people of the country where it hurts the most and you should be ready to pay a steep price for your misadventure.