Given the fact that Prime Minister Narendra Modi has a degree in Entire Political Science and not in Entire Economic Science, it is only to be expected that he is a bit weak in monetary and fiscal policy. He has now admitted as much in a recent interview given to Zee TV
Tag: Demonetisation
It is one thing to say that demonetisation has failed empirically, but quite another to assume that it will lead to BJP’s defeat. On the contrary, Mr. Modi has jumped from one policy to the other, and every time, the residue in public consciousness is the honourable intention. Meanwhile the opposition parties seem to be completely unaware of these dynamics.
It used to be said that Indians don’t queue. Clerks despaired of organizing the crowds that clamored for attention at service counters, and paying one’s electric bill in northern cities required a set of sharp elbows for jostling. In this context, postdemonetization bank and ATM queues were remarkable—not only for the very orderliness of their existence, but also for the intimacies they fostered and ways in which they rearticulated class and kinship.
No formal government program or agenda has been so socially malignant for India as the 2016 demonetization, both in the intent and manner in which the policy was deployed and in its impact on the working poor. While the forced sterilizations (nas bandi) of the mid-1970s were met with widespread subversion and eventually led to the fall of the Indira Gandhi government, the recent round of notebandi (literally, note ban) or demonetization was met by mass acquiescence.
No formal government program or agenda has been so socially malignant for India as the 2016 demonetization, both in the intent and manner in which the policy was deployed and in its impact on the working poor. While the forced sterilizations (nas bandi) of the mid-1970s were met with widespread subversion and eventually led to the fall of the Indira Gandhi government, the recent round of notebandi (literally, note ban) or demonetization was met by mass acquiescence.
Much has been made about the absence of large-scale protests by farmers against demonetization, as if farmers could march in the streets at the time of harvest, leaving their crops untended. On this topic, the journalist Ugale told me that some farmers had contemplated dumping tomatoes outside the collector’s office, but then changed their minds, thinking: “Even if we protest, what will we achieve?” Ugale trailed off and then, in a somber tone, concluded: “Helplessness and apathy, that’s what I see everywhere.”
More than 100 people died in bank queues trying to get to their own hard-earned money. Eight thousand crore rupees were spent to print notes. Billions of hours were wasted waiting patiently in bank queues. Bank staff forgot all their other works as well as night sleep. The working poor lost livelihood, for the notes to pay them with were nowhere to be found. All this, it appears, is a trifle in the worship of the fuehrer, er, the Bharatmata.
The black comedy of Demonetisation continues and the Governor of the Reserve Bank of India is now the latest clown in the show! In an astounding statement before the Parliamentary Standing Committee on Finance on July 6th 2017, the Governor of the Reserve Bank of India (RBI) said that he could not give them an official number as to how much money was deposited in old demonetised notes because counting was still in progress! This beats all logic.
Results are in on Demonetisation … India is being ruled by AN INCOMPETENT PRIME MINISTER… He has ruined the Indian economy with a stupid, ill-considered move. An overweening belief in himself, to the exclusion of advice from even a close set of real economic/financial experts, is undoubtedly the biggest cause of this debacle. If Modi had even consulted those with some economic/financial knowledge in his own party, he would have realized that demonetization is a blatantly STUPID move.
The rhetoric of the “War on black money and corruption” apart, demonetisation has succeeded in making the Aadhar card mandatory in violation of the orders of the Supreme Court. Additionally, a few implications of this move on democracy and civil and political liberties.
Dear Raiot readers, after the year-end monetary megalomania of Modi-bhaiya, Bhogtoram Mawroh brings us some black humour as respite from the RBI madness.
In Modi’s case, the decay of the mitron particle over the past three years has been accompanied by the emission of copious amounts of bullshit.
1. Do poor have 500 notes?
2. He/She was old. Could have died at home too. How can you blame demonetisation?
3. Things are difficult, but it is for the greater good of the nation.
4. Look how India is changing to digital transactions overnight…
5. Why are people not going to Govt Hospitals? They accept old notes.
6. Wait for a few months before you criticize the move.
7. Oh, how much black money did you have you anti-national, sickular, libtard, commie?
8. You can stand in queue for the tickets to 1st day 1st show of a movie but cannot for the bank?
9. Oh, so who do you want instead? Rahul aka Pappu or Kejri the Nautanki?
Why Modi made a fool of himself in China
By this time, most of you would have heard of Modi’s huge blunder in China where he misspelled “STRENGTH” as “STREANH” and became a laughingstock.
Now, let me make myself clear on one thing: I don’t expect Modi to know good English. So I do not judge him poorly for his poor mastery of English.
I would have been perfectly happy if Modi gave a speech to the Chinese in languages he is comfortable with – Hindi or Gujarati.
But given that he chose to speak in English despite having the option, he bears the responsibility for the goof-up.
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