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Prime Minister Modi's War Against Corruption, Black Money and Fake Currency Notes in India

Politics / India Nov 29, 2016 - 02:53 PM GMT

By: Dr_R_M_Mathew

Politics

Prime Minister Narendra Modi has launched relentless war against Corruption and the associated widely circulating Black Money and Fake Currency Notes in India with a surprise move, as part of his election promises. Black money and fake currency notes have grown to the extent of even destabilizing the Indian Economy and the Nation for which the enemies of the nation, within and outside, have been working. From the strategic point of view, especially in the wake of the increasing Islamic Terrorism sponsored by Pakistan, India has no other option but to uproot both Black and Fake Money at any cost, along with Corruption.


The Forgotten People of India

Further, they are the root cause of the increasing income disparity and the slow phase of development, besides denying the benefit of development over 70 per cent of the population, especially in the rural and agricultural sector, who are in every sense the forgotten people of India. They are the basic reason why; the value of the hard earned money of the common people has been declining even to the extent of sixty or seventy per cent so that they can buy less than one third of the things that they had brought earlier. Even the Left in India is not bothered much about the plight of the forgotten people. 

A powerful leader like Narendra Modi can alone have the guts to wage a war against them, through a surprise move in a vast country like India with several millions of people with diverse languages and cultural backgrounds. Of course, it poses several challenges, including inconveniences to the general public for a short while and the possibility of cashing the public resentments by the enemies and the divisive forces besides politicization of the entire issue by the crooked and irresponsible political parties and giving negative propaganda by the media.  To complicate the matters, the very life-blood of the media, political parties, entertainment industry and above all religious and extremist groups are constituted by the black money and fake currency notes, in the form of advertisement, sponsorship, funding and etc..  

The Reign of Black Money and Fake Money

During the time of the previous Congress Government under Economist Manmohan Sing, truck load of Fake Currency Notes to the extent of billions mainly in the denominations of 500 and 1000 rupees had been brought to India and widely circulated. It was mainly carried out by the enemy countries, especially Pakistan, to destabilize the Indian economy, using the Indian business people, professionals and workers in the Gulf Regions, including some Muslim organizations.

They become immensely rich, besides setting up big business empires spreading across different countries within an unbelievable short time. Even people without much financial background become Millionaires and Business Magnets; most of the Political Party Leaders also become very rich. That had also paved the way for to the growth of Islamic Terrorism and Radical Islam in India.  Almost all Political Parties, some big business houses, extremist or terrorist organizations besides the Print and Electronic Media and the entertainment industry - cinema, cricket and etc. are the beneficiaries of Black Money and Fake Currency Notes.

During the Manmohan Singh Government, corruption in India had reached at its zenith in terms of billions and trillions. The then Prime Minister Manmohan Sing couldn't do anything other than making some speeches in feeble voices,  when all his ministers and party leaders were competing each other in getting rich with corruption and obtaining fake currency notes. That had resulted in the spectacular victory of BJP under Narendra Modi coming from a very humble background.

Crimes and Victims

The Great Income Disparity and Increasing Misery of the Common People who are denied the Benefits of the last 50 years development in India are caused by the Black Money, Corruption and Fake Money. Almost all developmental statistics, including the growth rates have not been real as they are founded on the Black or Fake Money.  As a result, India has created millions of victims rather than the actual beneficiaries of development. This is one of the reasons for the growth of extremist groups like the Maoist in the backward regions besides the growth of Radical Islam among Muslims in India.   Real Development Benefiting the Common People can only be achieved by wiping out the Black Money and Fake Currency Notes. Here comes the historical role to be played by Narendra Modi.

Because of the widely prevailing political and bureaucratic corruptions in India, over 80% of the benefits of developmental activities, governmental spending and social welfare measures have not yet reached in the hands of the common people, but hijacked by the corrupt politicians, bureaucrats and contractors. Further, the country remains backward and forced to satisfy with less than 10 per cent of the development that were originally targeted. India does not have an effective monitoring system with provision for proper feedback from the actual beneficiaries.

India has a Parallel Economy, stronger than the Real Economy with Black Money. Corruptions, Black Money and Fake Money are the greatest crime against the common people, especially the poor and backward.  Those who are involved with Corruption, Black Money and Fake Money are the real enemies of the people, the nation and the humanity as dangerous as Terrorists.  

Demonetization – the Bold and Heroic Step

Without giving any indication, recently Narendra Modi demonetized widely circulating currency notes of 500 and 1000 Rupee denomination, as Black Money and Fake Currency notes are mainly in these denominations, and instead introduced new Currency Notes of 2000 rupee denomination.   The surprising thing is that all the enemies of the Common People are united against such a bold step, shedding their crocodile tears with the support of the Media and Bribed Experts, for attacking and isolating Modi.

Some of the opposition political parties have openly come out against Modi move on black money, fake money and corruption, making use of the inconveniences faced by the common people for the demonetization, projecting themselves as the saviors of the common people. If the agents of Black Money and Fake Currency Notes are instigating the Common People against the Modi Government, the only option for the Government is:  Declaring Financial Emergency and launch more aggressive measures, as the Government cannot leave the move in the Midway. At any cost, it must be made effective and successful for the very survival, integrity and development of India.

Indian National ID

Instead of the existing PAN Cards or Adhar Cards or Ration Cards, or in addition to them, the Government must introduce highly sophisticated Indian National ID with full biometric data for each and every citizen and link it with all financial, economic, civic or political and medical dealings or transactions in the different stages. In the first stage, it must be made compulsory for all financial transaction starting from one million Indian rupees, besides contesting Elections from lower to higher levels.

All government employees, both state and federal, and those who are getting direct assistance from the government must be brought under the system besides all employees in the private sector having a minimum annual salary of half a million Indian rupees and also all non-resident Indians;   gradually, it can be extended to the entire people of India so that every financial, legal, civic or political dealing or transaction can be made accountable.

The National Identification Authority of the UAE has effectively introduced the Emirates ID both for its citizens as well as expats working or living in the country and linked all their transactions with it. India can learn a lot from the UAE in these regards.

Modi Model and the International Community

Modi Model of Anti-Corruption and War against Black or Fake Money are being seriously observed by the international community as no nation is completely free from them. The difference is only in depth or magnitude. The success of this model is a human as well as historical necessity for all nations of the world, including developed as well as developing both in the East and the West. It will soon be copied down in China and several other countries. Like India, China is also highly corrupt and dominated by Black Money. That is why; in spite of its Economic Miracle, the Common People in China live in hardship and Backwardness and China becomes a highly Polluted Country. China has no other way, but to revise its Development Strategy and Reformulate them in favor of the Common People instead of meeting the global demands at the cost of the country and people.

Not only in China, will it also be followed even in the West, Latin American and African Countries. Even though the BJP or RSS in India are not very effective in defending Prime Minister Modi, he will shortly be emerged as an Epic Hero of the Common People who are to be made the real beneficiary of Development and to live without Corruption, Black Money and Fake Money, the very basis of dignity, honesty and self-respect.

Some of my earlier works appeared in the Market Oracle (UK) may be useful to go deep into these issues: 21 May 2014 - Modi and India Election - The Rotten Is Thrown Out: Lessons for Narendra Modi and His BJP http://www.marketoracle.co.uk/Article45692.html

28 Feb 2011 - India on The Verge of A Revolution for Corruptions http://www.marketoracle.co.uk/Article26594.html

My recent writings on these topics appeared in the Market Oracle (UK) can be found with the help of the following link: http://www.marketoracle.co.uk/UserInfo-Dr_R_M_Mathew.html

Prof. (Dr.) Raju M. Mathew

© 2016 Copyright Dr. Raju M. Mathew - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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