Sunday, June 20, 2021
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Bitter pills necessary to revive economy

Turbulent times in the stock markets as demonetisation hits the bourses like a tornado. Most indices have fallen sharply and FII’s who hate uncertainty are deserting the shores while domestic investors including retail are in panic mode. The events would hit the economy in the near future but does that mean monetization was wrong and ‘Black money’ should have been allowed to prosper? Demonetisation was the best thing to have happened though it could have been handled in a better manner so that citizens would not have faced hardships. Bitter pills are required when you want to fight a disease like cancer and people will have to face hardships in the immediate future as every new system has teething
problems. Economy would take a hit for a few quarters to grow faster in the longer run similar to the manner where a fast bowler has to go back a few distance if he has to deliver at top speed. What matters is the intention of the government which is today taking decision which would benefit citizens in future the fruits of which would be affordable housing, no need for taxes, great infrastructure etc after probably a decade if people cooperate in this movement.

S.N. Kabra

(The views expressed by the author in the article are his/her own.)

 

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