With reference to Archis Mohan’s report, “Modi phases out Rs 500 and Rs 1,000 notes” (November 9), that the Prime Minister himself announced the “demonetisation” would take effect from November 8 midnight shows his government’s seriousness about curbing corruption, black money and counterfeit currency, all of which destabilise the economy.
While this drive against black money must be lauded for its intent, there are areas of concern. For instance, Modi’s claim that “you will have 50 days to deposit your notes and there is no need for panic” is not entirely true. He did not talk about the intervening holidays for banks on the second and fourth Saturdays of a month and both banks and post offices on Sunday. There are also other scheduled holidays. This will curtail the operational window for availing of the facilities offered by the government. No wonder people are restless and worried.
Are banks and post offices administratively strong to handle the rush of people? What happens to people like rickshaw-pullers, vegetable and fruit vendors and small traders, who may not have ID proofs or bank accounts?
Not having small denomination notes, people are struggling to carry out transactions at railway ticket booking counters and petrol bunks. Even the staff at some petrol bunks is asking for ID proof. Is it really required for buying petrol?
The public, including honest taxpayers, are facing the brunt of the government’s unexpected announcement. The practical aspects should have been handled properly.
Kumar Gupt, Panchkula
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