After the Opposition, it was the turn of the highest court to question the tardy implementation of demonetisation. The Supreme Court quizzed the Attorney General, much to his discomfort, whether the decision to withdraw nearly 86 per cent of currency was taken under “impulse” and if the government had “properly applied (its) mind” while undertaking the drive.
The currency crisis is the inevitable consequence of a sudden decision by a cabal around the prime minister. More than 30 days have elapsed since the announcement of demonetisation by Prime Minister Narendra Modi and there is still no indication of when citizens will be able to draw their money whenever they wish to, without a limit set by banks.
With nearly 80 per cent of demonetised notes having returned to the banking system, the government is no longer boasting of making a “surgical strike” against black money. It is not too late for Modi to consult experts find a workable solution and arrest the economic slide.
S K Choudhury Bengaluru
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201 · E-mail: letters@bsmail.in
All letters must have a postal address and telephone number
