*crawls from the rock I’ve been living under*
Hello, people of the world! I’ve wanted to write about this since the day the news hit the stands. You probably guessed it from the title- Demonetisation!
So as you’ve already heard , Rs.500 and Rs. 1,000 notes have been demonetised in India. It was a very sudden, although predictable, decision taken by our very own Prime Minister.
All aboard the Judgement Wagon– Was this decision good or bad?
It did seem like a really great move by the Govt. Everyone posted pictures on the Internet claiming that India is on the road to a corruption-free future, and let’s not forget the numerous posts about how Rs. 500 notes were being used to wrap up peanuts(kadalai, hehehe), and whatnot! Naturally, I was very excited about it too, I mean, come on! It’s not everyday that something like this happens, right? And new notes! With rumours all over saying the new notes are going to have a chip embedded in them which would enable tracking, I was bubbling with curiosity! Though I did feel it would certainly have an impact on the lives of common men, I didn’t ponder over it too much because it was only a matter of inconvenience. Then the day arrived- my dad went to the bank to get the old notes exchanged for the new ones. He showed me the new notes, and obviously I was very disappointed that there was no chip in it (I knew it wouldn’t make sense anyway, pshh!).
Now that all the excitement had died down, it finally hit me- so if there’s no way to monitor the circulation of these new notes, what was the point of it all? Sure it brought out the black money circulating in the economy now, but what about the future? Though there is a new coding system in the new currency, there is certainly no way to curb the accumulation of black money in the future.
It is only hoped that the Govt would take adequate measures to keep that in check, or this demonetisation wouldn’t really make a lot of difference in the economy in the long run.
All said and done, this was a brilliant decision. I’m all for revolutionary changes, as long as it makes a difference in the country. As always, only time will tell.