President Pranab Mukherjee was somewhat skeptic about the note ban and the economic slowdown in India. It is time for upheaval and not just criticise the government move. As demonetisation is doing dual role of immobilising black money but at the same time fighting corruption in one stroke. Thus we expect better results this quarter and there is no need to underestimate the decision so early. Good thing that banks get sufficient liquidity and hence it will reduce the burden of paying interest on Savings bank accounts. Bankers and other public servants should be extra careful to alleviate the sufferings of the poor and they might be able to overcome the shortcomings of demonetisation, which is unavoidable for the expected progress in the long term. It will reap rich benefits and the people’s standard of living will go up as hard work will pay more to earn and save in the coming years. People should be lifted above poverty line and that may see the light at the end of the tunnel. After all every adversity is an opportunity for success and the President pin pointed that in right spirits.
(The views expressed by the author in the article are his/her own.)