Balasore: The Union government had demonetised `1,000 and `500 denomination currency notes from the midnight November 8, 2016, announcing that it would help prevent corruption, black money, fake currency racket and even curb terrorism. But 138 days after the move, people from various walks of life in Balasore said the desired outcome of demonetisation has not been achieved, rather it is the BJP that has extracted maximum mileage.
Most of the seizures of Rs 1,000 and Rs 500 invalid notes were made from either BJP leaders or their supporters across the country, they added. Not a single millionaire, trader, industrialist or political leader was found queuing up outside banks or ATMs post demonetisation, they pointed out.
Seizure of wads of counterfeit Rs 2,000 notes in Balasore and Mayurbhanj districts has defeated the purpose of demonetisation, locals said. Some BJP-backed outfits had carried out awareness drives about the good impacts of demonetisation and had promoted cashless transactions through camps and the social media.
But in reality, it has severely affected retail business, labour class and real estate and transport sectors in the district.
Social activist, Sahirul Haque, said, “Demonetisation has hit retail trade and small manufacturing sector, apart from increasing unemployment. The BJP government claimed to create jobs for over 1 crore youths per year, but lakhs of youths have lost their jobs and are sitting idle at their homes. BJP has got maximum mileage from this move.”
Ranjan Kumar Nayak, a lecturer in Economics, said, “Lower income groups like farmers, labourers and tribals were severely affected by demonetisation. Most of them had no banking linkages.
The country’s economy will suffer in the coming days.”
Lawyer Manoj Kumar Nayak predicted financial anarchy in the country as a result of demonetisation. ”As BJP leaders and Sangh activists has inkling of the move in advance, they purchased land in metro cities and towns and deposited their money in banks. When 19 per cent of the country’s population has not seen banks, talking about cashless system is laughable,” he noted.
Labour leader Subhankar Mohapatra said, “Farmers, labourers and daily wagers were badly affected by demonetisation. Restriction on cash withdrawals added to the woes of workers, who failed to receive their wages, In November, Bengal traders could not purchase paddy from famers in Balasore due to demonetisation. As a result, farmers had to suffer during rabi crops. Many were forced to borrow from private moneylenders at high interest rates. It has battered the economy of the country, which may not reviver in the next two years.”
Jayant Baral, a farmer of Remuna, had suffered a lot for the marriage of his daughter December 9 when he could not withdraw cash from his own account. He had to borrow from various sources. After furnishing advance bills from grocery shops, mutton sellers, and cloth stores, the bank cleared his money. Demonetisation has brought a lot of miseries for poor people like us.”
Educationist Bharat Chandra Pothal alleged 70 per cent of the population is going through hard times post demonetisation.
Retired doctor Satyaranjan Das said demonetization has destabilized the economy while cashless system has created a strange situation. PNN
