Ever since Prime Minister Narendra Modi announced demonetization of Rs 500 and Rs 1000 notes, the whole country is divided into two parts — those who support demonetization and those who oppose it. There are many who believe that the move would help improve India’s economy.
However, the long queue outside banks and cash-dry ATMs have sent common man’s life for a toss. Several negative reports have emerged about the move that is causing severe harassment to tax paying citizens. To top it all, we are told that we might have to endure this chaos for another 10 days.
However, this appearance of finance minister Arun Jaitley on the popular talk show Aap Ki Adalat hosted by Rajat Sharma could help you understand the finer points of why the government had to take this tough move. Jaitley’s statement will help you shed some of your anger accumulated over the weekend while standing in queues outside banks and ATMs. This interview shows why all this pain might just be worth taking.
Here’s what he had to say:
- If the government should excempt families that are preparing for wedding. (November-December is the busiest wedding month)
2. On how black-money hoarders are misusing the existing exemptions
3. On how this will increase bank’s lending capacity and its strenght to support economy:
4. On why panic that small businesses dealing in cash will crash
5. On Mayawati and Mulayam calling this a ‘political stunt’:
6. On Mamata Banerjee’s complaint that it is an anti-poor move.
7. On how the pictures of Rs 2000 notes got leaked before PM’s announcement:
Although, there are genuine problems, Arun Jaitley’s responses might have helped you understand that the government had no ill-will towards the people of this country. The message from the top is clear — if you are earning your money honestly and pay taxes for it, there is no reason why you can’t keep it in bank and pay through cheques. Arun Jaitley said that his government’s priority is to change the culture of dealing in cash and make it more transparent by making it either online or through cheques. Now, for any right-thinking citizen, this is a good move and beneficial for the country in the long run.