|Interesting cartoon on the damage demonetization has done|
to the Indian economy
India is the third largest economy in the world with a Gross Domestic Product at Purchasing Power Parity of $ 8.7 trillion (IMF estimate for 2016) in comparison with China's $21.3 trillion and US' 18.6. trillion. Thanks to Dr Manmohan Singh Indian GDP which was at #10 position in 2004 was brought to global rank #3 in 2014. Dr Manmohan Singh was a very cool person, he never used to get agitated with all petty issues happening in the country and he had a good team which saw to it that mischief creating elements or miscreants were kept under control.
|A concerned former PM Manmohan Singh,|
whats happening ?
|A pensive PM, worried how to get out of this rut ? If only|
he had done enough homework on the economy, than
dependingon his team of ignorant and incapable
Farmers even after selling their produce found it difficult to get buyers pay up as there was a cash crunch and a limit on the amount of money that could be transacted across the bank counters daily to Rs 4000 and weekly to Rs 24,000. Fruit growers and farmers remained unpaid, pushed to the brink of poverty and were not having money to pay for the seeds for the next sowing season. May of them have abandoned sowing for the next season. Tomatoes were being thrown in the market, tons of it, as the price had fallen to Rs 0.50 for a kilogram (50 paisa), not even enough to pay for the efforts by the farmer, forget the cost of fertilisers and water that has gone into it.
A very recent Nobel laurete Amartya Sen comment on demonetisation ..
The PM is keeping all cards close to his chest, waiting for the opportune moment to have the last laugh, as is his customary approach. But will he have that luxury any time soon ? Was it carried out due to ignorance at the top or with some devious planning behind it ? The country still does not know the true intentions.