Dear Editor,
This refers to your editorial “Drastic step” (ST- Nov 10). The government’s decision to declare Rs. 500 and Rs. 1000 notes has really evoked positive response from economists and industrialists. This is the first time in Indian politics that PM Modi has showed actual leading qualities, which is fruitful for every non-corrupt individual. No doubt the common man would be trouble by this decision but soon everything will be alright. It is nice that PM without giving any indication for such a drastic move, carried out a surgical strike and parties who thrive on black money are dumb founded. The Congress is the worst affected and crying foul and creating panic. The PM has been slowly taking action by bringing maximum people in the banking habits. Most of the real estate transactions in the country are done using unaccounted cash. When, black money and corruption are the biggest obstacles in eradicating poverty, steps like this will indeed strengthen India’s economy and democracy despite some short term dislocations that are inevitable, and more must follow for ferreting out undeclared wealth stored in other ways. People who have amassed cash illegally in large quantities will find their business terminated suddenly. Government need to introduce laws where transactions and service payment above a certain amount also.
Vinod C. Dixit
Ahmedabad