“Long years ago, we made a tryst with destiny, and now the time comes when we shall redeem our pledge, not wholly or in full measure, but very substantially. At the stroke of the midnight hour, when the world sleeps, India will awake to life and freedom. A moment comes, which comes but rarely in history, when we step out from the old to the new, when an age ends, and when the soul of a nation, long suppressed, finds utterance.”
These momentous words from the much-famed ‘Tryst with Destiny’ speech of Nehru resonate a whole new meaning tonight. The unannounced ‘Address to the Nation’ by Prime Minister Modi must have got many Indians choked at the dining table.
Whether it was the SIT on Black Money, the Jan DhanYojna followed by the Income Disclosure Scheme and the Benami Transactions Amendment Act 2016, everything was aimed at the promise of rooting out black money.
Demonetisation of Rs 500 and Rs 1000 denomination notes with effect from the midnight is the biggest and the boldest step by the government for containing black money.
Nothing short of a surgical strike.
While the usual rhetoric and scripted narratives will dole out from the political masters by the time India basks in the warmth of a sunshine post this midnight, the immediate is :-
- Black money hoarders will be hard hit. With a fix timeline to deposit cash into banks and a cap on the volume, there is little people with truckloads can do
- Money distribution in the upcoming elections would be affected. Even more, this would take the interests of quiet a few to the grave.
- Pakistani cottage industry of printing fake Indian currency will be left with stacks of toilet paper
- Terror outfits largely financed by black money will want to commit suicide – literally. Dawood Ibrahim just might file for bankruptcy over the next few days
The beauty of the entire coup is that each and every step had been mitigated from the day the current government came to power.
Whether it was the SIT on Black Money, the Jan DhanYojna followed by the Income Disclosure Scheme and the Benami Transactions Amendment Act 2016, everything was aimed at the promise of rooting out black money. The demonetisation announced today shall prove to be a final blow to black money hoarding syndicates as well as individuals.
As I complete this draft at the midnight hour, I look forward to a new sunshine greeting a new India tomorrow; some what toned down on corruption & black money indices that will catapult our rankings high up north on the Ease of Doing Business ratings.