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Indian Prime Minister Modi's Demonetisation: Is it Good or Bad For India And The Global Village?
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This gives hope for both. Although, people suffered, even died; almost reminding 'man is what he thinks', this is energizing the formed 'Modi Modi..' craze. Suddenly scientific data, innovative gadgets, trust on the country's leader and hope for the future are merging together to give a new confidence to the Indian people. Could they have done better?: In the intension, timing, recognition of corrupt Indian ways, cash production and distribution, yes the concept and timing were faultless. Even if secrecy is given its due, the rest didn't make a good performance. In the 6 months available, production of cash should have been enough and stored even for the desired controlled distribution. 'Continue to print' was a bad idea. In distribution, a corrupt sluggish ineffective system that made only 10% reach the end point should have been known and central data coming out of that system should not have been taken as gospel. Instead, since it was a major issue, end points of distribution should have been checked at least to see if they worked. Even if secrecy hampered ways in the  pre-announcement days, post-announcement days should have seen work done in a war footing. This means printing cash by more companies, hiring vehicles to transfer money to remote corners and hiring an army of temporary staff at end points of distribution - bank and cash machines. Even involving the paramilitary, as needed.  Although seeing the pain of the people, the government was sensitive enough to do meetings, it instead went on beating round the bush in general.  The global impact: Finally, flooding the market with cheap goods, China has made life easy and even luxurious for the ordinary folks globally. Adding cheap labour 'spice' to that Chinese 'dish', a cost effective, productive, well behaved and progressive India can only be good to the world. The demonitisation by Mr Modi, thus cannot be said to be bad, even globally. In this scenario, the sliding down of India to below top 5 most promising markets as aired by The Financial Express is nothing but a noting down of temporary stock market like emotional reaction. ---------------------------------------------------------
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