Demonetisation – the criticism of electronic assumptions

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Critics are raising several questions on demonetisation. Answers are awaited.

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Demonetisation – the criticism of electronic assumptions


The critics of India’s demonetization drive are finding several arguments to bolster their case – technical, political, logical. The primary reasoning offered is that “economic reasoning” could never had led to demonetization. Hence, it was not well-planned. The government stoutly denies any such charge. Critics say that to expect instant learning (of digital money transactions) from crores of honest citizens for whom cash is the way of life, is wrong. Earlier, hard metals were used as currency. Then came the “paper currency” which is essentially promissory notes, and entire Europe made huge strides due to the simplicity the new system offered [Watch our lecture on “Concept of Money”]. Why has India chosen to eliminate that suddenly? 

In India, sudden demonetization has created real risks for the poor, who are under-educated, and may lose money trying to do electronic transactions. India does not have the infrastructure to institutionalize training and learning of such a vast magnitude. Critics say that if black money held in cash was anyway less than 10%, then DeMo is of little use anyway. Most black money is in foreign accounts, benami properties or gold. Attack that, not cash. Critics also point out that huge job losses in manufacturing have started to happen. However, the various data dished out by the government are not entirely in that line. The sudden change of goals is the proof of the government’s lack of preparation, is the critics’ main line of reasoning. 9. Critics also say that critics are being painted as being “anti-national” and “supporters of black money” which is wrong.


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विमुद्रीकरण – इलेक्ट्रॉनिक मान्यताओं की आलोचना


भारत के विमुद्रीकरण के अभियान के आलोचक अपने मामले को मजबूत करने के लिए अनेक तर्क निकाल रहे हैं – तकनीकी, राजनीतिक, तार्किक जो प्राथमिक तर्क दिया गया है वह यह है कि “आर्थिक विचार” का परिणाम कभी भी विमुद्रीकरण में नहीं होता। अतः यह व्यवस्थित ढंग से सुनियोजित नहीं था। सरकार जमकर सुगठित रूप से इस आरोप का खंडन करती है। आलोचकों का कहना है कि करोड़ों ऐसे ईमानदार नागरिकों से, जिनके लिए नकदी ही जीवन का आधार है, तत्काल सीखने (डिजिटल मुद्रा लेनदेन के विषय में) की अपेक्षा करना गलत है। पूर्व में कठोर धातुओं का मुद्रा के रूप में उपयोग किया जाता था। उसके बाद “कागजी मुद्रा” आई जो अनिवार्य रूप से एक वचन-पत्र थी, और इस नई प्रदान की गई प्रणाली की सरलता के कारण यूरोप ने भारी प्रगति की [मुद्रा की अवधारणा पर हमारा व्याख्यान देखें] । भारत ने अचानक इसे समाप्त करने का निर्णय क्यों लिया? 

भारत में अचानक किये गए विमुद्रीकरण ने गरीबों के लिए वास्तविक खतरा पैदा कर दिया है, जो अशिक्षित हैं, और वे इलेक्ट्रॉनिक माध्यम से लेनदेन करने के प्रयास में अपने धन का नुकसान उठा सकते हैं। भारत के पास इतने विशाल पैमाने पर प्रशिक्षण और शिक्षा प्रदान करने के लिए आवश्यक संस्थागत अधोसंरचना उपलब्ध नहीं है आलोचक कहते हैं कि यदि नकद में धारण किया गया काला धन वैसे भी 10 प्रतिशत से कम था तो उस स्थिति में भी विमुद्रीकरण अधिक उपयोगी नहीं था। अधिकांश काला धन विदेशी खातों, बेनामी संपत्तियों और स्वर्ण के रूप में था। उसपर आक्रमण करें न कि नकदी पर। आलोचक यह भी दिखाते हैं कि विनिर्माण क्षेत्र में बड़े पैमाने पर नौकरियों में कटौती शुरू हो गई है। हालांकि सरकार द्वारा जारी किये गए विभिन्न आंकडे पूर्ण रूप से इस दिशा में संकेत नहीं देते। आलोचकों के तर्क की मुख्य दिशा यह है कि लक्ष्यों में किया गया अचानक परिवर्तन भी इस बात का सबूत है कि सरकार के पास तैयारी का अभाव था। आलोचकों का यह भी कहना है कि आलोचकों को “राष्ट्र-विरोधी” और “काले धन के समर्थकों” के रूप में चित्रित किया जा रहा है, जो पूरी तरह से गलत है

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Bodhi Saar: Demonetisation – the criticism of electronic assumptions
Demonetisation – the criticism of electronic assumptions
Critics are raising several questions on demonetisation. Answers are awaited.
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