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The decision to withdraw currency notes in India has an indirect political connection. In the Emergency imposed by Indira Gandhi and the subsequent elections of 1977, the Janata Party formed a Khichdi government and Gujarati Morarji Desai became the first non-Congress Prime Minister. Expressing deep displeasure against the previous government, the allies supporting it urged the Prime Minister to teach a lesson on several allegations in a phased manner. In view of today’s dissatisfaction in the year 1978, for the first time in the country, it was decided to cancel the notes of Rs 1000, Rs 5000 and Rs 10000. This was the time when 10 grams of gold was not available in India for 58 thousand but only for 700 rupees.
On 8 November 2016, the Prime Minister of Gujarat, Narendra Modi, once again decided to cancel the notes of 1000 and 500 rupees in the country. After demonetisation, people had to face a lot of problems. People stood in line for hours outside banks to get their money. This time due to the wedding season, people had to face many problems regarding the expenses of the marriage of the children. The intention of the government for demonetisation was to curb black money and curb terrorism.
Today once again people in the country are confused about RBI’s decision regarding Rs 2000 note. Till 30 September 2023, people can exchange 2000 rupee notes in banks. From May 23, 2023, Rs 2000 notes can be exchanged to the extent of Rs 20000. You can exchange Rs 2,000 notes at 19 branches of banks and RBI.
With this decision of RBI, the political parties of the country have started targeting the central government. While the Congress has targeted the Modi government, the Aam Aadmi Party has also attacked the central government.
Congress leader Pawan Kheda said that the ghost of November 8, 2016 has once again dominated the country. The much publicized move of demonetisation has turned out to be a major disaster for the country. PM Modi preached to the country on the benefits of new 2000 notes, what happened to all those promises when the printing is stopped today?
The government should clarify its intention behind such a move. The government is continuing its anti-people and anti-poor agenda. Hopefully the media will question the government on such drastic measures and not blame the ‘chip shortage’ on the world.
Aam Aadmi Party leader Saurabh Bhardwaj said that after demonetisation in 2016, people lost their jobs, died and the economy suffered. The government which claimed in 2016 that black money and corruption would end, but it did not happen. I hope this time the decision has been taken on the basis of expert opinion.