6 years of demonetisation – a historic moment in time.
The announcement still give goosebumps.
It was ground-breaking – what a time it was! People lined up hoping to exchange money.
Most people were happy – it was for a corruption free India after all – when soldiers can stand withstanding negative temperatures, why can’t we?
It was a matter of 50 days only, wasn’t it?
Don’t know about the black money, but Rs2000 note has vanished for sure.
The 2000 rupees note has disappeared like ‘acche din’ (good days) from our lives.
50 days went by fast, it wasn’t an enough time, but people were okay with it – changes take time, correcting Nehru’s mistakes takes time. Take 50 years, but give us ‘acche din’!
There was a unique excitement around notebandi (demonetisation) – it was the biggest ever masterstroke. Everyone side-lined their short term pain to hope for long term benefit of demonetisation. ‘Big economists’ like Hema Malini, Aishwarya Rai Bachchan, Hrithik Roshan, Ajay Devgan, in their interviews, suggested a long term outlook on the possible ‘benefits’ of demonetisation.
People were thinking of long term benefits – now we are entering Amrit Kaal. After 25 more years, we shall be the world leader – notebandi taught us to be patient, have a long term vision. These 5 year plans are of bygone era – in new India 25 year plans are norm. So, raise questions after 25 years!
A move like demonetisation was one of a kind – high value currency discontinued suddenly. In fact, no other world leader is courageous enough to announce something like demonetisation – only great leaders can pull it off.
Mainstream media declared demonetisation was a revolutionary step forward – advanced technology that will deter black money holders, signal sent by the note to the satellite. Actually, we quickly forget the great work done by the government – just like in Covid-19, how well it was handled.
Similarly, we have forgotten benefits of notebandi. It removed black money and introduced cashless economy. Right after demonetisation, “Paytm karo” movement was announced. What can govt. do if people are so in love with cash? 6 years after notebandi, cash circulation is very high.
100/100 marks for attempt to the Modi govt. – economy took a hit – but at least they tried something. There were so many advanced security features installed on 2000 rupee notes to obstruct copies. Black money holders love this Rs2000 note, and already 2000-rupee note is low in circulation. Whenever there is raid, it always uncover these Rs2000 notes from the black money holders.
Demonetisation was so successful that it is not necessary to talk about it anymore – as if Narendra Modi removed the term from the vocabulary. But just like long covid-19 symptoms affect many – the blow to economy because of demonetisation, the wounds of notebandi for many are still fresh.
Especially, small businesses that could never overcome demonetisation and GST masterstrokes. Did you see any big businessman in line because of notebandi? And they also handled GST well. Small businesses suffered.
If you are lucky to receive Rs2000 note today, take good care of it. It will be a reminder of that time of demonetisation. Just like at the time of Indira Gandhi people were happy that the govt. was at least trying to control population by Nasbandi (Vasectomy).
But, be it Notebandi or Nasbandi – common people suffer at the ending. The politician moves on, and focuses on votes at the next election.
[Images from different sources]
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