NOTE BANDHI : A JOKE OF THE DECADE
NOTE BANDHI : A JOKE OF THE DECADE
When demonetisation was announced in November 16 , PM and FM made tall claims that out of 15.45 lakh crore worth banned currency, 30 % will not come back to circulation and it will be big revenue gain to Govt and shall be used for public welfare.
With RBI annual report of 2017-18, it’s clear that 15.31 lakh crore banned notes amounting to 99.3% is already rested in safe bunkers of RBI and looks like a big mockery is made out of demonetization.
A year back when there were feelers sent by RBI that major portion of banned currency come back into system, FM tried to justify it and gave indications that the large transactions and routing of currency into bank accounts will be tracked and guilt will be punished. Unfortunately there are no such indications or not even a single case of such tracking reported and any such bold moves are very unlikely in election year.
What did we achieve through demonetisation is a billion dollar question and everyone it looking for answers and the present Government is accountable and answerable.
It reminds me of a proverb in Telugu “ KONDANU TAVI ELUKANU PATTI NATTU” ( Got a small rat after digging mountain)
B Guruva Reddy - grbonthu@gmail.com
9866889246
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