What a stupid and unwarranted decision it is of the Indian prime minister Mr.Modi, to scrap the currency notes of one thousand and five hundred. Supposedly to bring out the hidden black money of hoarders. Please note Mr.Prime minister, what these dishonest persons did once, they will do again, and they will be prepared for future such decisions.
And if it is a step to curb the counterfeit currency that Pakistan has infiltrated into our economy, then they will do it to the new currency too. In fact, if I were a counterfeiter, it would be a very good opportunity to infiltrate the new currency, at a time when Indian citizens are so vulnerable. Gullible persons will take the new currency at face value and not be able to differentiate between the real and the fake at this moment. At least the present currency was something that we had become aware about. As a layperson in the field of finance, even I had become aware of how to feel and check out the rupees five hundred and one thousand currency notes. With the brand new notes of 500 and 2000 being thrust onto us, so suddenly, it will be unknown territory. I have just viewed the pictures of the new currency on television news. So when I get currency that looks like that, I will have no means to check its veracity. At least, the new currency should have been formatted like the plastic currency of Australia, which is so wow and so futuristic too.
Today, my experiences have made me very infuriated, thanks to the government's rash decision. I travel by taxi and bus, on my way to and from work, so change of almost eighty rupees gets used. I had to buy bread (rs.35), two tetrapacks of milk (rs.150), oil (rs.180), Muesli (rs.85), 6 eggs (rs.35), a total of rs.485, and the shopkeeper, from whom I have been shopping the above goods every week, refused to accept my 500 rupee note. And then I decided to buy paneer, rs.260 for half a kilo, and that shopkeeper too refused to accept my 500 rupee note. So when I visited the fruit seller, and he too refused. I needed some medicines and a mosquito spray, but the three pharmacys that I passed were so crowded, that I dared not to wait for my turn in the melee of pushy and impatient men. And so I returned home with an empty bag, feeling very resentful, that I had to be insulted in spite of wanting to use my hard earned money.
Today I do not appreciate Mr. Arnab Goswami, our very voluble Times Now, TV anchor, at all. He is arguing just to appease the Modi government higher ups, it is clear. The opposition Congress view point is more practical and realistic. The roads across Mumbai have been bereft of goods vehicles and transport vans, because they are off the road, as their bosses do not want to be paid in 500 and 1000 currency notes, which is the only feasible mode of payment for wholesale service. The vegetable market was also almost deserted, as no vendors wanted to take these notes.
If this drastic step by the government is aimed at black money hoarders, then it is not the only prey. Honest, hardworking persons are suffering emotional trauma caused because of the discontinuance of the currency. Today, a colleague of mine was continuously in tears. She is a very middle class housewife and a teacher. Christians have holy communion scheduled for this month and she is heart broken, having withdrawn almost one lakh to pay for preparations, which would not have been possible with a cheque. Flower decorators, small time event managers, food suppliers, tailors, even priests, do not take cheque or card payments. Another colleague had just money-ordered cash to his family in the village, which is needed for a relative's ongoing medical treatment and is worried how they will manage with the discontinued currency.
The ruling party in India, who live in lavish bungalows, enjoy travelling by plane, helicopters and expensive suvs, who invest in flats that are priced at one crore or more, will keep enjoying these perks, as they will keep up with their 'kickbacks' anyway.
How is it that ordinary citizens, suddenly become crorepaties when they become politicians? They will continue to squeeze their profits through the same routes that they have managed to, for so many years.
Why sir, did you not announce this step before Divali? You have not bothered to empathize with the numerous families that have a wedding in the offing. You are brash and dictatorial. My cash is 'paseeneh kee kamai' which you have announced is 'trash'. I wholeheartedly abhorr you for that.
My parting shot to our honourable PM is that, you should walk, and use public transport and live frugally, as a 'chaiwalla' should. Otherwise please give the exact graph of your fortunes rising so astronomically. How is it that you were 'honest' and did you not ever accept 'black money' and yet now you have been able to grab the top post and travel in your own 'plane' to countries around the world.
Of course you are representing the country, but along the way, you paved your destiny very favourably and very cleverly, to achieve your present post. You must admit that you too have taken advantage of kickbacks and black money to fulfill your ambitions. The political rallies and public posters, if you take into account the minimum that a rising politician has to spend on, you sir, have not spared any paisa, ever.
Long term??? The people who hoard and earn money illicitly, will continue to do so, and the politicians are the main culprits who demand bribes, and they will do so in the future too. I do not have an ATM card because I do not want to waste the extra service charges. I withdraw money according to my needs, and that is in the 500 rupees denomination, for my monthly use. You, and your political cronies are the biggest black money hoarders, as is proof of the income shown on the names of all your family members galore.
