The ruling BJP described the Narendra Modi government’s demonetisation of Rs 500 and Rs 1,000 currency notes as a “surgical strike on the menace of corruption and black money”, while the Congress raised several questions and described the new policy as a “Tughlaqi farman”.
The BJP said the move will “go a long way in bringing economic prosperity (to) the lives of the poor, middle class and neo-middle class”. It is expected to impact the BJP’s prospects in states like Uttar Pradesh and Punjab that hold polls next year. After development and good governance, thiswill be one of the BJP’s key poll planks.
But it may also adversely affect the BJP’s prospects as small traders and bussinessmen, considered among the party’s core base, will face the burden.
The BJP, facing criticism for being “anti-minorities”, “anti-dalit” and for trying to “polarise” the atmosphere ahead of the Assembly polls in UP and elsewhere, said the PM had “yet again demonstrated his unwavering commitment to promises he made to the people of India”.
Mr Modi’s 2014 campaign promise to put “Rs 15 lakhs in each bank account” had often been used by the BJP’s opponents in a jibe at the government’s intent to curb black money.
BJP chief Amit Shah said the decision was a “surgical strike on corruption and black money” and said the “interests of honest taxpayers, who have been contributing in nation-building, has been protected”.
Congress spokesman Randeep Singh Surjewala said while his party always backed initiatives to stop black money, farmers who were in the midst of crop rotation would face immense pain as money supply would be short. He also wondered why the government wanted to encourage black money hoarders by introducing new Rs 2,000 notes. Former I&B minister Manish Tewari described the move as a “Tughlaqi farman” issued by the government.
In UP, regional satraps like Mulayam Singh Yadav and his Samajwadi Party and Mayawati’s BSP could turn it into a major issue against the BJP. It is also likely to cripple electioneering as most political “expenditure” is cash-dependent.
