The editorial, “Yet another flip-flop” (December 21) is timely and brilliant. Ordinary citizens are weary and befuddled with the frequent changes in rules for deposit of old currency. The new norms have confused even the banking staff. It is likely that as I write this, the norms may have been reversed. Frequent changes give rise to credibility issues. A government must stand by its word. Countries cannot be governed by whim or fancy.
I have never seen such gross mismanagement of the economy at the national level since Independence. The Emergency declared by then prime minister Indira Gandhi had thrown the country into turmoil, but the management of demonetisation by the current government is worse and has upset life in villages and towns. It is now increasingly evident that most of the illicit money in India was laundered or converted into assets such as gold within a few weeks of the announcement of demonetisation. However, daily wage earners and small factory workers have lost their jobs.
A decision that had not been thought through has caused hardship to most people. In all this, the basic reason for demonetisation — flushing out black money — has been forgotten. The government needs to understand the need for debate and even dissent in a democratic country like India, before vital decisions are taken or implemented.
The lead story on the front page of Business Standard is “PM plans pre-Budget balm for note ban pain”. The sops being planned will not assuage the pain of those, who have suffered during these cashless days. No sops can bring back the 70 or more people, who died in queues waiting for their own money.
Clearly, the government is losing its focus. Instead of focusing on growth, job creation, infrastructure and building smart cities, it is squandering time on half-baked projects such as demonetisation.
Rajendra K Aneja Mumbai
