Economy

‘Rollback Demonetisation’, Say Eminent Citizens

Representational image. Credit: Reuters/Files

Representational image. Credit: Reuters/Files

The government’s decision to demonetise Rs 500 and Rs 1000 notes, announced by Prime Minister Narendra Modi last week, has led the nation into a situation of chaos. Endless queues have formed before banks and ATMs and the cash economy has been affected adversely.

Over 150 eminent citizens have issued a statement today, against demonetisation, questioning its efficacy in eliminating black money.

The statement – signed by Prabhat Patnaik, Nayantara Sahgal, Prashant Bhushan, Jayati Ghosh, Anand Patwardhan and several others – has highlighted the dire situation the common people have found themselves in as a consequence of this decision.

The statement said, “The summary way demonetisation has been effected is leading to a riot like situation in the country. We demand that the government ensure that common people have immediate access to enough money to pay for their daily needs and health emergencies.”

It went on to demand that demonetisation be rolled back and if that isn’t possible, it asked that the process be phased out and done in a more orderly way.

The full text of the statement has been reproduced below.

Citizens’ Statement on Demonetisation by The Wire on Scribd

  • Rohini

    ****”In a democracy there is consultation and consent of the ordinary citizen” ***
    Yes, indeed, – And that ‘consultation’ is the mandate our elected reps hav been given for 5 years to formulate policy – including economic ones. It would be very worrying indeed if if the PM and the cabinetwere to start ‘mohalla sabhas’ for consultation on policy! It’s THEIR job, that’s why we elected them.

    **The eminent citizens are not from the affluent class. They have dedicated their lives to society.**
    Yes, I agree – they are just like the 1.2 billion other citizens of India who are not affluent and have dedicated their lives to building a strong Indian society.

    ***Kindly read all the reports on this site itself and also other independepndent sites like scroll.in and not to mention P. Sainath’s site on rural India online. ***
    Scroll is not independent – given the source of its funds. P.Sainath of the HIndu..well, we all know his leanings.Not even economists can predict the outcome of something which has had no precedent.

    I’ll make up my own mind, thanks, with data that comes in over the next one year. I AM allowed ot do that, am I not? I reaslise our university system does not encourage independent thinking – it pushes received wisdom from text books and profs down student’s throats. BUT, some of us escaped that torture.

    ***”. You don’t have to respond as I have neither the time nor patience to convince closed minds. Let as agree to disagree.”**
    A little less of the grandstanding, and the posturing, if you please. And feel free to call anyone who disagrees with you a ‘social media troll’ – why spare me? I can see that your profession does not allow you to tolerate dissent.
    I’ll decide whether to respond or not….you don’t get to decide for me.

  • Rohini

    In a democracy, opinions do not count when it comes to policy matter on the economy. Which democracy have you come across that asks for the citizens’ opinion of policy matters? Please point me to the data . Because I cannot think of a single functioning democracy that does in for a public opinion poll on economic matters.

    I don’t just **listen** to 3rd hand news reports to form opinion – I found out for myself by travelling to parts of India. And the story I heard was quite different from what the news rreports were showing us. In any case, this is moot now – the UP verdict tells you what the **opinion** of people was about demonetisation.

  • Rohini

    “. I do not interact with some one who makes offensive personal remarks like “grand standing and posturing”
    Let me remind you of the civility you showed me in your original response to me
    THIS is what you said
    **”Democracy is not what trolls on social media shout about. I trust, you are far from them. Hence this reply. You don’t have to respond as I have neither the time nor patience to convince closed minds”**
    YOU’ve made two personal comments here – one almost implies I am a troll (I have no idea why the troll word should have featured here at all in a discussion), and then you go on to call me a ‘closed mind’.

    Were YOU civil to expect it from me?