With reference to the Chinese Whispers item “Reverse effect” (December 22), it is ironical that the latest notification on demonetisation is the 60th from North Block-Mint Road combine in the past 43 days. The visible ad-hocism associated with the government’s action plan at ground zero speaks volumes about the planning and implementation of its demonetisation move. In fact, the multiple U-turns on demonetisation has badly tarnished its image. The fast growing resentment and confusion among the people at large and the bankers are also adding more fuel to the fire.
I am inclined to agree with the tweet of Prashant Bhushan who said the “RBI is behaving like a headless chicken. Should be renamed Reverse Bank of India. Now we can see the damage Raghuram Rajan’s removal has done”. The list of the protestors against various RBI moves since November 8 is endless.
Needless to say, if the unceremoniously 'ousted' Dr Raghu Ram Rajan were the governor of the RBI today, things would have been much different. The present incumbent seems to be dutifully speaking in “his master’s voice”. Mind you, the ongoing developments on this issue may not be the end of the road for the masses as many more offending notifications could still be in the offing as the government’s dream project of making India a cashless gains prominence.
Kumar Gupt Panchkula
