DEMONETISATION - A RIDDLE

The BJP government at the centre suddenly announced the withdrawal of currency notes of ₹ 1000 and ₹ 500 denominations from circulation. 15.28 lakhs worth such notes were disappeared from circulation. People all over the country faced huge inconveniences. The Prime Minister and Finance Mister kept telling the people that this action was for a good purpose, the betterment of the economy, the progress of the nation and so on. Now the Finance Minister says that 99% of the withdrawn money has come back to the government. In the remaining 1%,  the return from the cooperative banks and from Nepal are to be accounted for. The left over will be, therefore, much less than 1%.

It now remains to be a myth or a riddle for the people, as to what was the purpose of the demonetisation. Even those who are in the financial field are baffling in the matter. The people are interpreting this midnight operation in different ways. Some think this was done to favour some selected business men. Some others think that this was for the benefits of some politicians. So long as the people are in the dark they may move around in different directions.

I would like to request the government to speak out the actual purpose of this secret action. They may tell what are the gains the government had and the people as a whole had from this much talked demonetisation process. Do not allow this to remain as a riddle.

KV George
kvgeorgein@gmail.com

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