Wednesday, April 24, 2024
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India not ready for cashless economy

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The Modi government’s sudden decision to scrap notes of higher denomination had shocked everyone. All of us faced some hardships initially by standing in queues to deposit or withdraw our hard earned money but now situation is gradually returning to normalcy. However, note ban has affected the day to day lives of the common man and has increased the work load of bank employees. Banks performed a good job of exchanging old currency, depositing money and helping senior citizens. The PM should not have grudge against the opposition and skip parliamentary proceedings while maintaining a ridiculing stance in his utterances outside the country and delivering public speeches in India.

Money is not black. It is crisp, clean and properly coloured. We make it black and ugly. Politicians must take a pledge that they will not accept cash while distributing tickets. Digital payment is good but it cannot be achieved in 50 or 100 days. India is a vast country. Many commodities have to be purchased from small vendors where payment by cash becomes necessary. Most of our agricultural labours continue to remain unbanked.

Demonetisation also has affected the nation’s economic progress as there has been a fall in production and supply of goods. I used to drink coconut water daily but now I have to skip it for saving my hard earned 100 rupee note. Thus unwanted spending has been curbed after demonetisation. Modi should come and address the parliament to clarify about the government’ stand on demonetisation instead of ridiculing the opposition outside. Sincerity in man management should be displayed. Before taking major decisions he must consult experts and review them.

Our country has become a victim of terrorism. The government must take preventive action and simultaneously do not abandon negotiations. I have been advocating some sort of limited national service or even conscription. There is lot of indiscipline and irresponsibility amidst the masses. Vocational training must be imparted to youth so that they become employable. Experts must be hired from overseas to train youth.

However the government has failed to take any initiative in this regard. They must conduct another military strike across the borders to weaken the destructive elements. Nowadays people are more interested in discussing about politics instead of working. I will not hesitate to call it the Modi effect. What about population control, is the government taking steps to curtail it?

It is the government’s duty to restore citizen’s confidence by taking corrective steps to address the shortage of currency notes. They must ensure that industrial production does not suffer and agricultural activities are carried on unhindered. On the other hand, citizens must remain optimistic, continue with their work and be patient as normalcy will be restored soon.

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

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