Demonetization Talks I

In these series of posts, I am going to write my views on major media reports coming on demonetization declaration of India.

I will particularly focus on those reports and writings which are criticizing this move, claimng that demonetisation is a mischievous anti-people scheme and it is bound to fail. My aim is to expose the baselessness of such assertion.

I will be updating these posts regularly if new information comes on any matter concering the topic.  The first allegation against this move is that ….

This scheme was no secret!! It was ‘selectively’ leaked…..

Anand Sharma jee said in the parliament that the plan of demonetization was selectively leaked to friends of BJP [1]. Kejriwal jee also made same statements. Their proof is that some newspapers (two precisely) reported about coming of demonetization scheme much before it was actually announced to public or to even cabinet members and their argument is that if these reporters had information on coming of demonetization then there is every reason to believe that it was known to other people as well[2].

But these claims that some newspapers (precisely just two) published stories that government is going to launch a demonetization policy are absolutely rubbish, at times ridiculous and in fact malicious.

The first proof is, and so far I understand this is the strongest proof, that a gujrati newspaper has published the news of coming of demonetization in April 2016[3].

However as you see this news item was published on 1st of April and many media houses publish such story on 1st April to simply fool people. The editor of the newspaper has given his statement in this regard that it was published as a joke, and if you have any reason to disbelieve the editor’s statement or veracity of the claim that it was not a joke, I urge you to open the link and read by yourself and thereafter I rest my case on your own wisdom.

If this is the strongest proof of leak then it almost amounts to admitting that there is no proof of leak in media.

There is another ‘proof’ running that a Daink Jagran (Kanpur edition) journalist knew about demonetization and as such a news report was published just a fortnight before the actual announcement. [4]

Mere glance of the actual news item will make it clear that it was a mere guess and reporter never had any such information. In fact the report nowhere says that RBI has passed any such resolution or they are going to pass such resolution that government will abolish 500 and 1000 notes. This was just a speculation that RBI may do it. Even Dainik Jagran newspaper is not claiming that that they broke this story!!

Then there is another “proof” that “State Bank of India’s research report “SBI Ecowatch’ had a clear pointer to the possibility of ‘demonetisation’ being on the anvil.”[5] I don’t think anyone except Kejriwal jee will cite this report as a proof that this constitute proof of leak!! again this was a speculation and more so an advise and in fact SBI cheif has responded on this aspect on a TV interview with Barkha Dutt that there are several such advisory reports. [] I will give you exact point of time in a while…

Then there is another report that West Bengal Unit of BJP has made deposition of crores of money in their account in a district of West Bengal. The actual deposition is of one Cr. rupees [6] and the wildest allegation goes to 3 Cr[7].

Now the point to note is that the deposition was made in the bank accounts of BJP and if you believe that BJP had only 1 Cr. rupees of black money with them and they deposited it  all in their accounts just before the announcement was made and this is the proof of leak then I have nothing to tell you.

 Therefore, if these are the proofs of leak on the basis of which opposition party and some media houses are propagating that the information was selectively leaked then the better proof is that Baba Ramdev had been leaking this news since last three years because he has been asking about abolition of 500 and 1000 notes since long.

Therefore the allegation that this scheme was leaked to some friends of Modi jee or BJP are baseless allegations and the only aim behind such baseless allegation could be to discredit the system and to anger genuine people who may be suffering in long ques in ATMs and banks.

And this why I suspect a vested interest.

In fact  vested interest can be seen in the headlines of all these media report and a question may be asked if this is ethical journalism.

The truth is that this demonetization scheme was one of the best kept secret of government and regardless of its actual merit or demerit, team working on it must be lauded for keeping such a potentially ‘beneficial’ policy information secret to this extent that there is not even a single media report of its leakage. on the ground of maintaining secrecy this operation is worthy of many congratulations. A true surgical strike.

At the level of secrecy it can be compared with Osama killing or our own Pokhran nuclear blast and trust me it was no less than nuclear blast for many people[8]. Who says it was merely a surgical strike!!

I am waiting for a detailed book sharing true experience of planning and executing this scheme: D

मेरी तरफ से इस बेमिसाल काम के लिए आपको अनेकोनेक साधुवाद !!

Next major criticism is that nowhere in the history of mankind demonetization has ever been a successful scheme and it is doomed to fail on this ground only.

The only strength of this argument that “history teaches us “ that it is doomed to fail is based on a very vulgar strategy of using word history in any argument with a wishful thinking that nobody will bother to check it (who read history anyway!!) and therefore nobody will challenge this claim.

So the next post is on History of Demonetizations









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