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Why the 'questions' still rising on the demonetization decision of Prime Minister Modi?

Monday - December 3, 2018 1:23 pm , Category : WTN SPECIAL
 Former CEC OP Rawat charges demonetization as ‘failure’
Former CEC OP Rawat charges demonetization as ‘failure’

Big question: Was the demonetization a big failure of Prime Minister Modi?

DEC 03 (WTN) - Prime Minister Narendra Modi, on the demonetization, has always claimed that the demonetization has been benefited for the country, and due to this the flow of black money has been interrupted. But from time to time, there has been questions raised on the Prime Minister Modi’s demonetization decision that it was a successful experiment. For your information, let you know that a few days ago, the Ministry of Agriculture, in a background note submitted to the parliamentary committee of the financial affairs, acknowledged that due to lack of cash, the situation in rural India had gone terribly bad during demonitization, and due to this many farmers could not buy seeds and fertilizers. There was contrary effect of not buying fertilizers and seeds; and the rabi crop was badly affected in 2016.

From time to time, the opposition and economist, continue rise questions on the demonetization. The opposition has alleged that the demonetization is the biggest financial scandal of the century, but here, the Prime Minister says that due to the demonetization, there was interruption in black money flow and is was badly affected. In many of his speeches, Prime Minister Modi has mentioned that the use of black money in the elections has been stopped due to the demonetization.

But, recently, O.P. Rawat, who had been retired from the post of Chief Election Commissioner, has raised questions about Prime Minister Modi's claims with one of his statements. Rawat said in a statement that the use of black money in election was not stopped by the demonetarization. He said that this time more black time has been recovered than the previous elections. Not only that, Rawat has expressed concern over the use of black money in elections.

Former Chief Election Commissioner OP Rawat said, "After the demonetization, it was being said that misuse of money will be reduced during the elections. But it was not proved on the basis of recovery figures. In the same state, more black money has been recovered in comparison to the previous elections."

Targeting political parties, Rawat said, "He feels that there is no shortage of money for political class and their financiers. Money used in elections in this manner is usually black money. As far as the black money is used in the election, there is no investigation. "

Here, a few days ago, the country's former economic adviser Arvind Subrahmanyan had also broke his silence on demonetization. In his book to be released soon; Of Counsel: The Challenges of the Modi-Jaitley Economy, he mentioned demonetization as a 'failed experiment'. He has written in his book, “The deionization was a stark and dangerous blow to the economy. With this one step, 86 per cent of running currency was withdrawn from the market. Demonetization effect was seen on real GDP. Economy momentum was already slower than before. But after the demonetization, it started to fall further."

Whether the report submitted to the Parliamentary Committee, or the statement of former Chief Election Commissioner OP Rawat, or statement on the demonetization by the former financial advisor Arvind Subrahmanyan, all have to say in the unanimous note that the demonization affected the country's economy, and the claiming of the interception of black money through demonetization was unsuccessful in its purpose.

Now you have to see how Prime Minister Narendra Modi gives answers to all these allegations. During campaigning in Madhya Pradesh, Rajasthan and Chhattisgarh, Prime Minister Modi, in his speeches, repeatedly mentioned the demonetization and said that it was profitable. It may be that for the reviewers and opposition, the demonetization is an unsuccessful experiment, but the Prime Minister considers claims it a success. It is to be seen now that what decision the people of the country take in the 2019 Lok Sabha election on Modi government’s demonization