Though welcoming the move of the Narendra Modi government to demonetise 500 and 1000 currency notes, the people from all walks of life sounded panicky too. “Panic is natural, given the volatility involved in the situation in the aftermath of the revolutionary step,’’ is how the people from a company CEO to a sweeper expressed themselves on Wednesday, a day after the decision was announced.
BJP is elated as the leaders are sure that the saffron party would sweep the upcoming Assembly election on the strength of the issue that has struck a chord in the common psyche.
“To rid the Indian economy of the dominance of black money, the move was an imperative. Corruption having struck deep roots, the step was long overdue. We are sure that it would go a long way in cleaning the proverbial Augean stable, stopping the parallel black economy from thriving,” said a senior district BJP leader.
A city- based economist Sunil Batra said, “It is a courageous step on the part of the Modi Government. It is a risky step too. The panic now prevailing would stay for some more days. The market would continue to see a slump in the coming days. Things would remain volatile there. However, on a deeper reflection, the step was unavoidable, given the rot prevailing in the Indian economy.”
Echoing the same view, a city-based advocate Naresh Babbar said that the step would curb the tendency among the corrupt Government officials to become rich at the expense of the hapless citizens. “It would strike fear in them, preventing them from making the people shell out money. Such briberies are generally given in cash,” he said.
Marriage blues:
Karuna Sharma, an office bearer of All India Women’s Conference, whose daughter is marrying on 11 November sounded tense when this correspondent asked her about how she had taken the move. “My brothers have left the city for ‘Bhaat’ (a ritual) and wherever they are giving 500 rupee notes, the shopkeepers are refusing to take them. And we prepared Shagun envelopes mostly containing the currency notes. Besides, all the payments to the Shehnai team coming from Meerut is to be paid in cash. Given the situation, the payments will be delayed,” she said.
Another girl Pooja, a lab technician, who is to marry the same day said, “My parents are in deep trouble. They are calling up relatives to inform them that things might be delayed, given the present situation.”