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Modi's decision to ban OHD currencies is historic as it curbs corruption, illegal trades, and inflation
The demonetisation of old Rs.500 and Rs.1000 currency notes by Modi government is being applauded as 'surgical strike' on black money and fake Indian currencies in the market.

Throughout the nation and abroad, people, economists, political parties and their spokespersons, various state governments, celebrities, media, foreign governments and their officials are appreciating Modi government's decision of withdrawing old high denomination (OHD) currencies from market as a stern step toward curbing corruption, black money, and fake currencies.

Prime Minister Modi's decision is historic in the sense that it will moderate corrupt practices in market and check inflation also to a great degree. Although business activities are reported to have come to a halt and will also remain affected in coming months, deficiencies in supply of new currencies and prohibition of use of stockpiled OHD notes within a week will deter people from trading illegally and making payments using hidden money in purchase of properties and luxury commodities.

People's purchasing ability has reduced since their stashed black money has been tendered illegal. To avoid legal action against them, people are dumping their black money hoarded through corruption, bribery, non-payment of taxes on their income and their business, and other illegitimate practices. On the other hand, common man and everyone will focus on saving their genuine hard-earned scarce money in their bank accounts until it is necessary to make transactions for essential commodities. People will also avoid wasting their limited amount of genuine money on stockpiling assets and luxury products.

High inflation in prices of land and apartment flats has started falling since very few customers are genuine to invest in properties. High prices of luxury products will also decline since sales will see drop-off compared to production as people cannot use hidden money and in turn will avoid making reckless purchase. Cost of essential services including unrestrained costs of private medical services and wedding expenses will also reduce since either people will look for alternate options due to unavailability of hidden money or middle players will cater to people's needs at reduced charges, thus, will replace big players or modify their business.

The NDA government's current decision has a big impact on reduction of crimes. Since OHD currencies are now illegal tender and there is shortage in supply of new currencies, unsocial elements are finding it difficult to extort money from helpless people through robbery and using threats.

In fact, these criminal elements are reported to have quit their criminal activities and returned to jobs or some work for making livelihood. The nexus between goons and their patriarchs and their political support will be broken since they are least likely to make payment to each other.

In addition, stockpiled money of naxal groups, militants, narcotic trades, human traffickers, and other anti-social, anti-national activities have become illegal since they couldn't be able to exchange their huge sum of money with new currencies from banks. The Union government's decision will cause devastating effects on activities of terror groups, foreign funding of separatist groups, and back door funding of anti-social and anti-national chaos in the country.

Moreover, fake currency rackets along with smuggling of lethal arms, smuggling of gold, trafficking of narcotics, and trafficking of poor helpless women and children in prostitution and child labor will come to a sudden halt in the country with this masterstroke of Modi government. For a long time, inexcusably shocking crimes against humankind were running in each and every state and in every nook-and-corner of the country. That's why few state governments, where these crimes were rampant and were given political and governmental backing, are opposing Modi government's decision to overrule OHD notes.

For sure people of the country are not innocent that they can be duped now by politicians for their vested interested. People of the country will also not remain silent and blindfolded over misdeeds of politicians as they have caused havocs in India's economy and society for last many decades. India became an unsafe country and banana republic in various terms during previous governments' ruling, therefore, every common man is now happily and thankfully supporting Modi government's decision to ban from use every illegal money of unjust people.

Although there are few incidences of hardship faced by people by standing in long queue for exchanging their OHD notes and due to deficient supply of new currencies in banks, no uproar, no chaos or disruption of emergency services have been reported in the country after swift implementation of Modi government's decision.

Common people of the country are content and relaxed since they can meet their basic requirements after exchanging their genuine money. They are least worrying with government's decision since they don't have stashed illegal money that has to be converted first through their bank accounts for use in purchase of over-expensive luxury commodities.

With its decision, Modi government is about to receive between 2-3 lakh crore rupees (USD 30-50 billion) for country's economy through people's bank account which have been unused in the market and were stashed in home. This huge sum will be circulated in the market again and banks will provide loans for big investment which in turn will improve country's economy further and cause job generation.

Government and its agencies are also collecting huge sum by raiding hideouts of hoarders of black money since there is chaos among hoarders to exchange their illegal money with some commodities or through some means. A large chunk of black money is also unearthed by government through purchase of rail- and air-tickets by people in advance as well as through payments of government bills which were pending or were mostly settled by bribing government officials.

Many hoarders of illegal money are reported to donate or loan few thousands to hundred thousand rupees to poor people with bank accounts on offer of certain commission. However, an alert government, income tax department, and banking staffs are going to seize those unaccounted money in people's bank account as well as arrest kingpins too. Ultimately, government is winner and the country is going to benefit.

As Modi government is planning to counteract people who have amassed illegal assets beyond their source of income and through corrupt practices, it is humbly appealed by common mass of the country that the current Union government, led by Prime Minister Narendra Modi, should also do 'surgical strike' against non-performing bureaucrats and office staffs as well as also against non-performing teaching staffs including professors, scientists, engineers, and medical practitioners. The government must weed out particularly those professionals who have joined through backdoor entry and are incompetent.

A 'surgical strike' is also needed against corrupt medical practitioners and corporate hospitals who are mercilessly sucking poor people's hard-earned money even when the patient is dead but is kept admitted in corporate hospitals for few more days. Many healthy and medically fit people are needlessly kept on medical watch by mercenary doctors.

Many pharmaceutical companies regularly offer bribes, commissions, gifts or tour packages to government and non-government medical practitioners in return for running their company's expensive medicines even when a healthy person does not require complex medicine for a long period. Not only these corrupt medical practitioners are devastating people's health, but these doctors are also stashing huge illegal money by robbing common people.

It is also suggested to the Union government to use military to tackle all dishonest in government machinery and verify their genuineness. Military service must be called for judiciously to arrest every bad practitioner in short time as the current staff strength may not be adequate to investigate corrupt staffs and replace them with authentic substitutes also.

It is need of hour that thorough overhauling of India's system of working and functioning must be done overnight. A needful 'surgical strike' to counteract malpractices (misconduct, mismanagement, abuse, dereliction, negligence, recklessness, dishonesty, etc.) will motivate people to follow good work-ethics and norms and regulations set by governments.

Nevertheless, Modi government has, beyond people's expectations and without any doubt, killed many birds with a stone! A big salute to our Prime Minister Narendra Modi and his cabinet and to all authorities who have planned and implemented overnight this historic scheme of introducing new currencies by banning OHD currencies!

Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of merinews.com. In case you have a opposing view, please click here to share the same in the comments section.
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