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surgical strike

Reported by RJR, Edited by RJR | Updated: Nov 08, 2016 22:18:15

 By R.Jagadeeswara Rao

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The announcement by the Prime Minister Sri Narendra Modi of the ban on circulation of notes of Rs.500 and Rs.1000 denominations on Tuesday night immediately after a Cabinet meeting ( an indication that it was disuccssed and approved) is described as a "surgical strike" a phrase used to refer Indian army's surgical strike on terrorists training camps located in Pakistan'. While the army;s strike was on the foreign enemy,the later was on native milti-headed enemy,epitomized in the form of 'corruption and black money and fake or jolly notes'. It was historic moment in the annals of India. There seems to be a lot of home work done before taking this decision was announced. First steps were taken to see that the largest number of people were brought in  to the fold of banking services by opening accounts. According to officials about 25 crore people now have accountsd in the banks.This ensures that they could exchange thier Rs.500 and Rs.1000 denomination notes at the banks Then an oppertunity was given to black money holders to come clean through Income Declaration Scheme or ISD. Some had opted for the ISD and an amount of about Rs.65 crore had been declared. But this was considered to be the tip of ther iceberg.

Now came the final step which is demonitization of Rs.500 and Rs.1000 notes.It should be understood that this step should not mean that the above mentioned notes have become just useless papers. Because,people can still exchanges these notes with legal tenders at all banks.It was exactly the purpose for which this step seems to have been taken.People woud have to come to banks with Rs.500 and Rs.1000 currency notes which were hidden.If the fail to do so within the stipulated time period,these note would in fact would become just waste papers 

Opposition seems to have been caught by surprise and is unable to stomack this step aimed at curbing black money. Being in the opposition,they seem to be opposing for opposition sake. The Congress,whose ten year rule was a document of all that was corrptio,,criticise on the grounds that it would cause lot of hardship to common man and threw the economy into disarry. The argument was that most people,specially in the rural areas do not have bank accounts and they carry on most of the their transactions through paper currency amd hence they are bround to face hardship. It was,to a large extent true. But we should remember that the demonetized notes are not the only currency in circulation and there are other notes of Rs.100, Rs.50,Rs.20 denominations through which ordinary people coud carry on thier daily financial transactions. For purchasing a kg of onions or potatoes or tomatos,or for travelling short disatcnes through bus.auto etc people do not need Rs.500 and Rs.1000 notes. Besides this, the Government would issue new currency of Rs.500 and Rs.2000 denominations and people would automatically get used to the news system within a short period, The problem,if there is one, only temporary and people do not mind it for the larger purpose of tackling the menace of black money that has been eating into the vitals of country's economy.

If this could be called pain,it was like labour pain that a woman will have to undergo for delivering a healthy baby.

Let the opposition remember that it was a popular decision and has the support of overwhelming majority of people.The opposition,after appreciating the army's surgical strikes initially, came out with demand of proof for the surgical strikes and incurred the anger of public. This time also they declared that they are opposed to black money,but could not accept the latests initiative which would go a long way in curbing black money. One could only justify the opposition stand by saying 'after all, the opposition is doing its duty, why find falut with them?

 

 
Tags:  PM
 

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