, to deposit the valueless currency with commercial banks or exchange the same with new currency notes.
However, the Modi government kept making U-turns, one after another. For example, it suddenly and without prior notice stopped exchange of demonetised currency notes, a few weeks back.
Now the RBI has imposed a new restriction: that is only one deposit of demonetised notes of above Rs 5,000 would be permitted, provoking outrage among the citizens! Many had waited for the queues to subside and were hoping to deposit the valueless currency towards the end of this month! Now this move by the RBI at the behest of the government has hit them like a bolt from the blue!
What is astounding is that there appears to be different standards for the people and for our politicians! While the high value currency was demonetised effective from midnight of November 8, the window was kept open for nearly six weeks more for political parties, till the Modi government announced last week that they have to deposit the demonetised currency into party bank accounts up to December 30, 2016. It is obvious that the political parties, including the ruling party, were given a huge window of opportunity to garner as much money by way of demonetised currency during the inter regnum! This smacks of double standards and hypocrisy!
On one hand, the Modi government is in undue hurry to force a cashless system on society without due regard for security and safety! On the other hand, political parties, including the BJP, are not going cashless. Rather, there are reliable indications that the political parties, including the BJP, are making hay while the proverbial sun continues to shine to mop up as much cash as they can!
The PM has burdened more than a billion Indians with hardships due to demonetisation and meagre supply of new currency by way of replacement for demonetisation of 86% of the country’s money literally overnight! This is preposterous when political parties are still wallowing in cash. Modi needs to practise what he is preaching to the people. He cannot fool the people with his oratory and by becoming emotional!
As PM, he should immediately convene a meeting of all recognised political parties and get them to accept the need to ban all cash donations to political parties. If the Modi government sincerely wants to get rid of black money, it should set an example by walking the talk! If India is truly a democracy, then the political class must show the way. And as the principal crusader against ‘black’ money, Modi must lead by example if he is really sincere.
