Home Uncategorized PM Modi&#8217...

PM Modi’s Demonetization Move: Is it Curbing Corruption or Creating Mass Chaos?

Demonetization drive is creating a more hassle prone situation rather than solving the corruption issue

Protest in India (representational Image), VOA

Nov 19, 2016: This year, November 8, 2016 marked a turning point not only in the history of BJP but on India’s economy as well and the reason is none other than demonetization. The demonetization of India followed by the devaluation of China shows that the two most powerful developing countries are into some serious drive of setting their own examples in world politics. When 86% of currency notes in a country of 1.3 billion people are rendered illegal tender in a matter of hours, it is bound to create a short-term disruption in daily lives.

NewsGram brings to you latest new stories in India.

Prime Ministers repeated speeches and thanking his people or their constant co-operation is even going in vein as the money supply is too short of demand. It is becoming an issue for the small traders, middle class and the poor at large. Moreover, the speedy transition in withdrawal and deposit are acting as an insult to injury. The information is resting on the educated mass while the poor ones are getting depressed at repeated shocks. There are certain consequences as listed below:

ATM crisis

The biggest cash crunch is experienced by the Automated Teller Machines (ATM) which are still lagging in the reconfiguration of new 500 and 2,000 notes. In order to reconfigure 220,000 cash machines in India at least a period of one month is required, according to Mr. Navroze Dastur, the managing director of India and South Asia at NCR Corporation. It supplies about two-thirds of country’s machines. Dastur said it will take as much as a month to adjust all the ATMs.

Go to NewsGram and check out news related to political current issues

Gold Rush

Most successful way to hide one’s black income is by purchasing gold. This will not only put a white mark on the black spot but will be a safer asset for the long run. Thus  a new gold rush also emerged soon after Modi’s announcement. “Jewellers who had shut shop for the day on Nov. 8 had to reopen their stores within a couple of hours and were selling gold up to 4 a.m,” Chirag Thakkar, a director at gold wholesaler Amrapali Group said by phone from Ahmedabad in Modi’s home state of Gujarat. “Customers were lining up with bags of cash. Some jewellers even had to call the police to organise the crowds.” Customers paid as much as 52,000 rupees per 10 grams, almost double the current prices, he said. In order to curb the situation, all the gold shops are closed as of now. Thus, bringing a halt to the gold market, which is incurring the loss for a week now.

Re-employment of the Retirees

Banks are under huge pressure of masses and their huge responsibilities. The extreme mass pressure is complimented by the lack of cash which is adding to the chaos. The State-run banks have called their retired employees to handle the pressure of exchanging money. Bank employees have been working long hours without breaks to ease the transition, and the government has told lenders to provide them with transportation and food, All India Bank Employees’ Association General Secretary C H Venkatachalam said over a call.

Look for latest news from India in NewsGram.

Inputs of religious institution

The Government has requested the religious institution to donate their cash of lower denomination to meet up the cash crunch. Martin De Porres church in the Ernakulam district of Kerala, a south Indian state, decided to open its donation boxes after seeing the public’s suffering, Jimmy Poochakkatt, the parish priest, told India Today magazine. Shree Dharma Shastha Mahavishnu Temple in Mumbai also opened its offering box, Raghunath Raghavan, president of the temple trust said by phone.  According to Finance Ministry, for easing out the tension and bringing back the money in circulation, the money lenders are also reaching out to religious places to ask them to deposit funds given by devotees.

Defense Jets

Cash supply to the remote areas of the country are undertaken by the Defense Jets. “Depending on urgency, security and non-availability of commercial aircraft, requests for support from the Indian Air Force is within standing procedures,” a spokeswoman for Reserve Bank of India said.

Currency notes are usually transported from printing presses owned by the central bank to some 4,000 vaults around the country and then to bank branches in specially-built trucks with gunners for security. Since the crackdown, new currency bills have had to be airlifted by helicopter from Patna after reports of shortage in Bokaro and Jamshedpur, a finance ministry official said.

Trucks Abandoned

Naveen Gupta Secretary General of All India Motor Transport highlighted that nearly 9.3 million trucks were abandoned by the drivers midway after eight days of the announcement as they were in short of cash. India’s roads carry about 65 percent of the country’s freight. Drivers don’t have enough money for food, truck maintenance and to make payments at border check posts. “It will take a few more days for the situation to normalise,” Gupta said in an e-mailed statement.

Free Coffee

In Delhi, Mumbai and Bangalore, Starbucks Corp. has been serving free coffee to people waiting for many hours in queues in front of ATMs and banks, a spokesman for the company said.

Over demand of Rolex

Soon after PM Modi’s announcement of demonetization, there was a rush for buying costly stuff to cover up the black earnings. Demand for Rolex watch was one of them. One luxury watch outlet in north-west Mumbai saw 45 units of Rolex watches sold on a single day, according to a representative of a watchmaker, who was present when the sales took place. Demand matched what the shop would usually sell in a month and the store had to turn away customers, the person said, asking not to be identified because the person is not authorised to speak to the media.

– by Shivam Thaker of NewsGram with inputs from agencies. Twitter: @Shivam_Thaker

Next Story

Sanitization to Fight Coronavius Begins in UP

Massive sanitization drive begins in UP

A massive sanitization drive began in major cities in Uttar Pradesh on Friday. (Representation Image). Pixabay

A massive sanitization drive began in major cities in Uttar Pradesh on Friday. This is the latest news in India.

Rajkumar Vishwakarma, DG, fire services, told reporters that sanitization was being done with sodium hypochlorite and fire personnel had been instructed to take care and not to spray the disinfectant on human beings and animals.

The sanitization will be done using sodium hypochlorite. (Representational Image). Pixabay

Spraying will also not be done inside any building due to electrical connections.

Fire personnel have been asked to take photographs and post it on WhatsApp media groups. They have been asked to avoid calling the media personnel to the sanitisation sites to avoid risks.

Please follow NewsGram on Instagram to get updates on the latest news

Earlier this week, about 50 migrant workers who were at a bus station in Bareilly, were sprayed with sodium hypochlorite by the sanitisation staff. Those who were sprayed, including children, complained of itching in the eyes and rashes on the body.

Also Read- UNHRC Chief Michele Bachelet: India’s Lockdown Has Implementation Challenges

Chief minister Yogi Adityanath had expressed his concern over the incident and assured action against the guilty.

District magistrate Bareilly, Nitish Kumar said that the incident happened due to ‘over-zealous’ workers. (IANS)

Next Story

People Have Faith in Modi Government to Handle COVID-19 Crisis

Over 83% trust Modi govt will handle COVID-19 crisis well

Modi government
The Narendra Modi-led central government is leaving no stone unturned in fight against the novel coronavirus pandemic. Wikimedia Commons

As the Narendra Modi-led central government is leaving no stone unturned in fight against the novel coronavirus pandemic, 83.5 per cent people from various states “trust in government” in handling the crisis.

The findings came out in the IANS-CVoter exclusive tracker on COVID-19 Wave 2 survey conducted during last seven days among 18 plus adults nationwide. The findings and projections are based on Computer-Assisted Telephone Interviewing (CATI).

Replying to a question “I think Indian government is handling the coronavirus well”, 83.5 per cent people agreed that they trust in government’s steps being taken in fight against the deadly disease, and 9.4 per cent expressed their disagreement. The survey was conducted on March 26 and 27. Of the 83.5 per cent who showed their trust in government, 66.4 per cent strongly agree with the opinion and 17.1 agree with the view.

Please follow NewsGram on Facebook to get the latest news updates

A similar survey on the same question done on March 17 and 18 showed that 83.6 per cent people expressed their trust in government in fight against the pandemic which so far has claimed 29 lives and over 1,000 conformed cases. A total of 13.7 per cent people expressed their disagreement.

Modi government
83.5 per cent people from various states trust the Modi government in handling the COVID-19 crisis. Wikimedia Commons

As per the tracker, the data is weighted to the known demographic profile of the states. Sometimes the table figures do not sum to 100 due to the effects of rounding, it says. “Our final data file has socio-economic profile within plus 1 per cent of the demographic profile of the state. We believe this will give the closest possible trends.”

The Tracking Pol fieldwork covers random probability samples during the last seven days from the release date and that the sample spread is across all assembly segments across all states. This survey covers all states in India and was conducted in 10 languages as part of our routine OmniBus, it says.

Please follow NewsGram on Twitter to get the latest news updates

“This is a thorough random probability sample; and we are ensuring a proper representative analysis by statistical weighing of the data to make it representative of the local population as per the latest census and or other available demographic benchmarks.”

Also Read- Castro Gang Murders: How Cuba Eliminated An Opposition

The data clarified that it strictly follows the WAPOR code of conduct (World Association of Public Opinion Research) for our ethical and transparent scientific practices and have incorporated the PCI (Press Council of India ) guidelines as our SOP (Standard Operating Procedures). (IANS)

Next Story

Prime Minister Narendra Modi Stresses Cooperative Federalism for Ganga Rejuvenation

The meeting was attended by Union Ministers for Jal Shakti, Environment, Agriculture and Rural Development, Health, Urban Affairs, Power, Tourism, Shipping, and the Chief Ministers of UP and Uttarakhand, the Deputy Chief Minister of Bihar, the Vice-Chairman of the Niti Aayog and other senior officials

solar, battery, India, modi
Indian Prime Minister Narendra Modi. Wikimedia Commons

Prime Minister Narendra Modi has said the River Ganga rejuvenation should be an example of cooperative federalism and it has been a long-pending challenge.

The Prime Minister made this observation at the first meeting of the National Ganga Council in Kanpur, UP, on Saturday. The meeting was aimed at reinforcing the importance of a Ganga-centric approach in all departments of the states concerned as well as relevant central ministries.

He also asked for formation of a digital dashboard where data from villages and urban bodies would be monitored on a daily basis by the Niti Ayog and the Ministry of Jal Shakti. All districts bordering Ganga should be made a focus area for monitoring efforts under the Namami Gange project, he said.

Modi said a lot had been accomplished since the government took up ‘Namami Gange’ in 2014 as a comprehensive initiative, integrating various government efforts and activities, with the aim of reducing pollution, and conservation and rejuvenation of Ganga.

Notable achievements had been zero waste creation by paper mills and reduction in pollution from tanneries, he said and added, but a lot was required to be done.

River Ganga is one of the holiest, yet the most polluted river.
River Ganga is one of the holiest, yet the most polluted river. Wikimedia Commons

The Prime Minister emphasised that improvement would require full cooperation from the public at large and greater awareness through dissemination of best practices from cities situated along the banks of national rivers.

“For the first time, the central government has made a commitment of Rs 20,000 crore for 2015-20 to the five states through which Ganga passes, to ensure adequate as well as uninterrupted water flow. Rs 7,700 crore has been spent, prominently for construction of new sewage treatment plants,” said a government statement.

Prime Minister also urged for a holistic thinking process where ‘Namami Gange’ would evolved into ‘Arth Ganga’ or a sustainable development model with a focus on economic activities related to Ganga.

Also Read: Chinese Scientists Reveal Distribution History of Endangered Trees

“As part of this process, farmers should be encouraged to engage in sustainable agriculture practices, including zero budget farming, planting of fruit trees and building plant nurseries along the banks of Ganga. Priority could be given to women self-help groups and ex-servicemen organisations for these programmes,” it added.

The meeting discussed tapping the hybrid tourism potential of the river basin area for religious and adventure tourism. “The income generated from encouraging eco-tourism and Ganga wildlife conservation and cruise tourism would help generate sustainable income streams for cleaning of Ganga,” the government said.

The meeting was attended by Union Ministers for Jal Shakti, Environment, Agriculture and Rural Development, Health, Urban Affairs, Power, Tourism, Shipping, and the Chief Ministers of UP and Uttarakhand, the Deputy Chief Minister of Bihar, the Vice-Chairman of the Niti Aayog and other senior officials. (IANS)