Tuesday, November 15, 2016

BIG NOTE, BIG POLITICS

Ban on big notes have become big politics. Parliament session is going to be driven by it. Parties have polarised on the issue. Debate on national agenda has shrunk along a short bandwidth. Macro issues of economy has gone out focus, and Modi Government's money management policy and its related politics have become the common refrain.
The brunt of the move is being borne by the common man. Patience is giving way to anger. Modi knows it well. It won't be a big surprise if he initiates another surgical strike of move that will divert the attention well.

The move has also brought to the fore cracks in the government's argument that the move was conceived and initiated six months early. New bank notes carry RBI governor's signature. Patel has taken up office two months before, so how come the previous Governor didn't sign on the currency.

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