It was note badli, not note bandi: Business Journalist M K Venu
Patna,(BiharTimes): Noted business journalist and founding editor of thewire.in asked as to why huge amount of gold––which along with real estate form 95 per cent of the blackmoney––is not being brought into the banking system of the country.
Speaking at Guftugu, a programme organized by Bihar Collective, at Bihar Industry Association’s Conference Hall in Patna on Saturday, he said note ban is a sort of misnomer. The move has more to do with politics and less to do with economics. “It was not note-bandi, but actually note badli,” he said. Even if it was demonetization it is not done in such a way, he added.
According to him India has a huge stock of gold, mostly in temples––and in private possession too––but prime minister Narendra Modi is not bringing them in the banking system as he is perhaps afraid of Sangh Parivar.
He said there is gold worth 800 billion dollar in temples amd in private possession, which is Rs 70 lakh crore ––that is almost half of the country’s GDP.
Venu said, according to a State Bank of India study there has been 40-45 per cent fall in production after demonetization. The recent budget shows that the whole exercise of note ban was political and has nothing to do with economics. Even those who were earlier carried away by what Modi termed ‘Shuddhi Yagna’ are now, in particular after budget, very much disappointed as the country has achieved nothing by demonetization.
He said Modi wanted to introduce a new type of morality induced nationalism but after a few days he and his men started realzing that something had seriously gone wrong. Therefore, they are repeatedly chainging position.
Venu said that he does not exactly know why Nitish Kumar took such a stand, but added that it should not be missed that Bihar chief minister had also said that Modi is riding a tiger, which is full of isk.
He criticized the witch-hunting carried out by the Centre against Mamata Banerjee and her partymen simply because she, from the day one, had attacked demonetization. He asked as to why not a single FIR has been filed by the CBI in Vyapam scam of MP in which one lakh people illegally got the job. The Madhya Pradesh chief minister would be bailed out.
Stating that there is nothing for farmers in the budget he said that the Modi government wanted to introduced the draconian land acquisition bill immediately after coming to power, but it was compelled to take back.
The problems of farmers have been forcefully taken up by Kisan Sansad of Yogendra Yadav. They are not getting the promised Minimum Support Price and note ban had hit them hard, he added.
Women are more angry because they have lost all their savings privately made by them over the years.
He wondered as to how can all the money in informal sector be suspected as blackmoney. He asked as to how many big corporate bosses exchange their demonetizaed notes by lining up outside the banks?
Earlier noted social activist Arshad Ajmal welcomed the guest while Urdu journalist Anwar-ul-Hoda conducted the programme. The vote of thanks was delivered by Abrar Alam.
Prominent among those present were Prof (Retired) Nawal Kishore Chaudhary, noted journalist Manikant Thakur and others.
