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Showing posts from December, 2016

THE DEMONETISATION DILEMMA

It was around 8 at night, people were returning home after office, TV was switched on as usual, PM was speaking at prime time, it was thought to be an usual political speech that our PM tend to give. But, minutes later masses realised that PM was announcing that 85% of cash in our hands will turn just pieces of paper after midnight.  Initially, the general public didn't pay much heed to it, but as the news started pouring in on all channels, the people swung into action and lined outside petrol pumps, grocery shops, medical stores and supermarkets in order to change or use their high denomination notes. The merits and demerits of the demonetisation row are being talked about. Interesting parallels have been drawn to nation love, patriotism and surgical strikes against black money by our clever, diplomatically "correct" ruling coalition. The actual benefit or risk of this drive in the short, medium and long run is difficult to predict, only time has the capacity ...