" Have faith in God,not in government "

Unleashing second wave of demonetisation has shaken the confidence of common man in indian currency that is being projected to become an international reserve currency.People are re-living the horrors of disastrous demonetisation of 2016.

Ironically,the announcement this time was made by RBI governor,not the PM,nor even the Finance minister.It was being projected as a normal /periodical job ostensibly to bring back black money into banking system. Absurd logic.An eye wash; an exercise in futility.

The public is not aware of the hidden cost of demonetisation including cost of printing currency notes.Why were currency notes of 2000 rupee denomination,at all, printed,when the idea was to withdraw these from circulation?Similar situations do not occur in other emerging economies like Brazil,Russia,China and South Africa.India is an exception.

 The adhocism merely reflects desperation and confusion at the centre.This is bound to adversely affect the electoral prospects of  party-in-power in the coming elections.

A K Saxena (A former civil servant)


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