Prime Minister’s appeal to public is timely
Prime Minister Narendra Modi has made it categorical for the need to be patient in the ongoing demonetisation scheme. Speaking on the sidelines of public functions in Goa, the Prime Minister Narendra Modi appealed to the nation and its citizens to bear with his Government for next 50 days. There is no doubt that people have been inconvenienced, which would have been inevitable no matter, however, different way the scheme would have been rolled out. Prime Minister has admitted that there were certain problems in the way scheme was rolled out. Nonetheless, the interest of the nation is supreme and curbing of black money, a right step.
The opposition, true to its colour, has said that the demonetisation scheme may not be effective in curbing the malaise of corruption and with it, black money as much of it may not be stored in currency notes. Although, it has failed to point out the necessary evidence for this argument. It is common knowledge that much of the black money is stored in the form of illegal cash, gold and tangible small property in the homes of the corrupt. Modi's demonetisation drive has the capacity to render all the black money stored without any due consideration to taxation and thus, illegal into waste paper. If the scheme works out the way it is intended to, it will be called a master stroke in cricketing parlance, and will bowl the corrupt out for a duck.
Prime Minister has been gracious enough to warn the citizens that they should not believe rumour mongers, but trust his Government on this necessary action. There should not be any doubt that the Government is serious on stifling corruption and black money from all economic transactions. In an emotional appeal, he requested the citizens to make amends with his Government for some more days. Thus, in every way bear with all inconveniences that some citizens may have to put up with. The Government's intention is not to punish the citizens for the ill done by the corrupt. Although, the necessary process of rooting out corruption and black money is such that the contingencies will have to borne by all with stake in the financial system.
Financial experts have welcomed the Government's steps and have made it clear that this is not merely a political gimmick as opposition is keen to allege but, a firm and determined step to drive out corruption from the financial system. With all due respect to the opposition, Indian citizens are prone to trust the Government and the financial experts and not the easily changing opposition parties that have taken upon themselves to derail the reform process and turn the discourse on it to populism. Demonetisation scheme is an integral part of the reform process. Opposition would serve the interests of the nation if they could act as a check on the Government and thus, hold it accountable, if it fails to implement the scheme and to stem out corruption, as it has promised. To make nonsense of the scheme is irresponsible politics as demonetisation is unapologetically on the side of reforms. Keeping the frayed nerves calm would be good for the market and also for the citizens of the country. These are testing times for a nation with a growing economy and the NDA Government ought to be lauded to walk the reform talk.