The government’s decision to declare Rs. 500 and Rs. 1000 rupee notes invalid has really evoked positive response from economists and industrialists. This is the first time in Indian politics that Prime Minister Narendra Modi has showed actual leadership qualities, which is fruitful for every non-corrupt individual. No doubt the common man would be troubled by this decision but soon everything will be alright. I appreciate that PM without giving any indication for such a drastic move carried out surgical strike and parties who thrive on black money were dumb founded. The Congress is the worst affected and its leaders are criticising the Modi government and creating panic among citizens. The PM has been slowly taking action by bringing maximum people into the banking system. Most of the real estate transactions in the country are done using unaccounted cash. When, black money and corruption are the biggest obstacles in eradicating poverty, steps like this will indeed strengthen India’s economy and democracy despite some short term dislocations that are inevitable, and more must follow for ferreting out undeclared wealth stored in other ways. People who have amassed cash illegally in large quantities will find their business terminated suddenly.
Vinod C. Dixit
(The views expressed by the author in the article are his/her own.)
