Narendra Modi is still a hero of the majority of Indians; he has not lost his popularity even when the nation is facing side effects of his order of ban on old currency notes. The whole nation had been taken by surprise with the decision of demonetization on 8th Nov 2016 and people were promised to enjoy the change after 50 days, but it has not happened yet. It has not even denied by the people who took the decision of demonetization that India has suffered because of demonetization. The Indian government had been changing rules frequently after the decision and all the members of government started promoting afterthought “cashless India”.
Strong Modi and Politics
People are happy in struggle and strongly backing up Modi which shows the large faith of people in the Prime Minister. Narendra Modi is a smart politician; he has made demonetization a patriotic move and all who oppose have to deal with so-called journalists on social media. The followers of Modi are successfully convincing the people that the demonetization is a patriotic step and those who oppose are not patriotic. People who know the facts prefer to remain quite because of aggressive attitude of the blind bhakts of Modi. Deaths of people while struggling for their own money and disturbed lives have failed to change the attitude of followers.
The opposition of India is not that strong because of different interests of all political parties which are trying to woo voters in coming elections. Only Congress, BSP, and TMC tried to do some agitation, but the public is hypnotized by the charisma of Modi. An opinion poll done by an agency has shown that BJP gained 2% vote in UP elections after demonetization and it may reach the dream of coming in power in the major state of India, with more than 200 seats.
Demonetization and Economists
The majority of the economists are disagreeing with the move of Modi and now the reports are coming that the banks are having more than 97% of the banned currency. It is an estimate that nearly 15 lakhs crores out of 15.40 lakhs crores INR has been deposited in banks, which is a big blow to the Modi’s move of demonetization. Due to Demonetization in India Millions of people lost their jobs and number of small businesses shut down. Farmers could not sale their products in many states and poor people still standing in lines before banks for cash. The economists from all over the world are indicating a more inconvenient situation in the country and unemployment will increase. Economists suggest that cashless trading is successful in rich economies and developed countries but in India, it is not going to succeed overnight. The majority of the population of India not aware of cashless methods and because of cyber crime people do not show any interest in cashless systems of trades. Millions of people in India do not have bank accounts.
The body language suggests that PM is confused, sometimes he laughs in speeches and sometimes he cries in speeches.His speeches have become more sarcastic after demonetization. Just imagine and think of the22% of the population in India who live under poverty line means more than 25 crores out of 125 crores do not even get required food. How can these 25 crores people open bank accounts and for what? Many people from lower-middle-class families do not know to operate bank accounts, they are not much educated and the majority of them know their local language only. Now the question is how these people can be accommodated in cashless or less cash economy.
There is no doubt that our Prime Minister is an honest man, but what about the officers who get the responsibility to implement the ideas of PM. The thinking of Modi is great and we should proud of him for his sincerity but the ground reality is different. It is not a move of great vision and it looks that it has been taken on the emotional ground without analyzing the reality. Whatever the coming situation is, but at present Modi's magic is working.