The demonetisation has directly affected the whole economy. The common people are struggling for small money like Rs 2,000. On the other hand, people like Janardhan Reddy are spending Rs 500 crore in luxurious weddings and inviting 10,000 people, said former Professor of Hyderabad Central University G Har Gopal on Sunday here at a deliberation on “Demonetisation and Political Situation in the Country” organised by the lohia Academy.
Prof Har Gopal said suddenly one has realised how powerful the currency is. The whole nation has fallen in line. Everybody is standing in the queue for their money. Suddenly, the bank manager has become a fantastic person. The Indian people are murmuring and whispering but nobody is asking why demonetisation. Surprisingly, nobody is resisting and questioning. If anybody shows any dissent, he is dubbed an antinational, he rued.
When the Prime Minister banned the high-value currencies, he said it would hit those with black money, the terrorists and the Maoists. But in his recent speech on New Year-eve, he did not once mention about this but instead talked about digitalisation. But India is not ready for digitisation. There are only 14 lakh swapping machines in the country. For small purchases one will have to go to the supermarkets. Already the small traders and businessman have been hit hard and downed their shutters. Small traders would commit suicide like farmers. While the farmers committed suicide failing to repay loans of Rs 30,000 to 60,000, people like Vijay Mallya failed to pay back Rs 9,000 crore to the banks, but is having a good time in England, he said.
He further said globalisation has led to suppression of institutions like the Reserve Bank of India. Now, policy making in India is decided in Washington. To make matters worse any type of dissent is being crushed by the party with high decibel rhetoric, highly organised cadres and masters in spreading rumours.
Former Delhi University Professor Manoranjan Mohanty said the demonetisation has been undertaken with the Uttar Pradesh elections in mind so that the Samajwadi Party and the Bahujan Samaj Party cannot use the old currency in the elections. With note ban, the Prime Minister wants to send a message that he is a decisive leader and ensure that he and his party would be in power for the second term.
This is how democracy is being manipulated and black money is being institutionalised. The rich man is not standing in the queue. The demonetisation has affected the farmers, agricultural workers, unorganised workers and five crore small businessmen, Professor Mohanty said.
Raguram Rajan was shunted out of RBI and replaced by a loyalist as Governor. Attempts are being made to take control of the television channels and other media so that everybody toes the same line. While common man is distressed for small money truck loads of new currency is being used by some people. But how many top politicians and bureaucrats have fallen in the dragnet, he questioned.
However, one had high hopes from two Chief Ministers Naveen Patnaik and Nitish Kumar. But they disappointed and echoed the same version on demonetisation. While Naveen was afraid that the CBI probe might entangle many BJD leaders in the chit fund scam, Nitish wanted to embarrass lalu Yadav, said Mohanty. Among others, Samadrusti editor Sudhir Patnaik also spoke. The welcome address was delivered by Deba Prasad Raymahapatra and lok Shakti Abhiyan president Praffulla Samantara presided over the meeting.