Demonetisation is worth all the trouble

Demonetisation is worth all the trouble: The view that many people have suffered for the misdeeds of a few is misplaced. Black money actually exists everywhere...
Advantage, demonetization
Prof: TS Ramakrishnan’s article “Demonetization is worth all the trouble” (November 17) should silence the criticism that the November 8, 2016 announcement by Prime Minister Modi about withdrawal of high value currency notes was a politically motivated exercise. The Hindu Group deserves a special appreciation for involving academicians and professionals in this debate which is dominated by writers with ‘constituency’ interests.
While the hardships experienced by the people of a country which is dependent on cash for several day-to-day transactions are real, the long term benefits outweigh the temporary inconveniences. The article, while bases its arguments on facts and figures, lucidly explains the link between corruption and black money and abuse of accumulated cash by miscreants.
The need to activate and use Jan Dhan Yojana(JDY) accounts, timely prevention of use of channels like Railway ticket booking to bypass legal routes for exchange of old high value notes and disincentivize use of currency as a ‘store of value’ brought out in the article should draw the attention of the authorities for immediate follow-up action.
M G Warrier, Mumbai

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