Demonetization causes intense pain, government needs to demonstrate more empathy
By Chetan Bhagat – Black money in India is like a cancer. It has spread all over the country, almost like a parallel circulatory system for our economy. The use of currency notes is a big part of it. Black money stalls growth, kills efficiency and keeps the economy sub-optimal. To that extent, to cure black money, a government is justified in a treatment that resembles chemotherapy. The demonetization step is, therefore, welcome.
However, what is not acceptable is the government (or its fanboys) gloating over the brilliance of their idea to do a chemo, and being unwilling to look at or address the ugly side effects that come with it. No doctor gloats after giving a patient a chemo. They work to lessen the pain of the patient and limit the impact on good, weak cells.
For India’s poor, all it takes to make them descend in a negative spiral of abject poverty is one brutal blow – daily wages lost for a few months, savings wiped out because no bank took them, a job loss as their employer shut down, an industry downturn or a hospital turning them away – and they can never get back on their feet again. The chemo of demonetization can do that. To ignore this is insensitive and irresponsible. more> https://goo.gl/zxfSvF
- Now reform political funding
- Narendra Modi takes a great leap backwards. Mao would approve
- Corrupt climate
- Pure red herring
- Modinomics rings hollow