Demonetization Move “Butchered” Economy Of India: BJP Ally – Shiv Sena

Mumbai: It seems that even BJPs-saffron allies too don’t like what the ruling party claims to be crucial decisions in the history of India to deliver the development that the country deserves. The note ban or demonetization is one such issue that comes up in media like a ball which sometimes used to by the opposition party to show the wrong side of the far right party or sometimes by its own old one-mantra parties.

Taking potshots at its ‘once-upon-a-time’ favorite collaborative team player, Shiv Sena on Friday attached the ruling-BJP for demonetization move to ban Rs. 500 and Rs. 1,000 banknotes back in the year 2016 by terming it as “butchering of the Indian economy” to which according to it, even the Reserve Bank Of India (RBI) had admitted, albeit, very late.

According to the views by the firebrand saffron party in editorials of the party’s ‘Saamna’ and ‘Dopahar Ka Saamana’, the move was hasty and ill-advised and cannot be termed ‘patriotic’ at all but created “economic anarchy” in the whole country as subsequent developments proved.

The main promise that Prime Minister Narendra Modi had made during the announcement of demonetization that it would spell the end for corruption, fakes notes, black money, and terrorism. But what we see is the opposite side, especially in the past two years.

“The RBI’s latest annual report says Rs. 1.47 lakh crore, or 99.30 percent, of all the spiked notes, have returned. Around Rs. 10,000 crore have not come back into circulation. This means, a mountain was dug and not even a mouse came out, but the country’s economy was shattered for catching this elusive rodent,” the Sena said.

The result we come to see now is a total economic mess faced by the country along with small and medium enterprises have been destroyed, the service sector was in total crisis, the whole of housing industry was seen in doldrums, small and medium farmers were seen as suffering and many lives were lost due to the bank and ATM queues immediately after demonetization, said the Sena.

A further problem was created when there was a fall of the GDP as well as the country’s pace of development with witnessing of Indian rupee value going down to its lowest levels in 70 years and terrorism continues unabated.

Apart from that, the government spent more than Rs. 15,000 crore to print the new currency notes and Rs. 2,000 crore to distribute them, Rs. 700 crore to replace the already existing ATM networks.

“However, despite the huge economic losses suffered, the government still continues to harp on ‘Vikaas’ and its attitude is akin to Nero fiddling while Rome burned. Demonetization was a sheer ‘evil’ (aghori) measure,” said the Sena.

The editorial did not leave behind RBI and commented that it was the main custodian of the country’s wealth but the Governor (Urjit Patel) did not take any action when it was being looted, for which he should be brought to the court to seek justice in this regard.

“We were shown the dream that demonetization is a revolutionary step which will eradicate black money forever. However, hundreds of crores of black money of politicians are deposited in banks. A couple of Gujarat (cooperative) banks lead in this and some newspapers there had published the news of impending demonetization months in advance,” it pointed out.

The BJP’s bitter ally at the central and Maharashtra level said that those who are opposed to the move of demonetization were treated as “traitors” but the truth is now revealed in the RBI’s (2017-18) annual report.

“For those who labeled (former PM) Manmohan Singh a ‘fool’, the reality is out and it is clear that demonetization was a fiasco. The RBI is saying so,” the editorial said.

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