Prime Minister Narendra Modi has on Tuesday made a crucial announcement on demonetization of high-valued currency notes effective from November 9, 2016. Initially, for everyone, the decision from the Prime Minister looked a very bold step and appreciated him for the challenging move. However, the story is different. There has been a planning of six months before the official announcement from the Prime Minister. It was reported that even the cabinet ministers were unaware of the ‘demonetization decision’ until the cabinet meeting on Tuesday evening.
Sources close to the BJP revealed the actual story behind the decision on a condition that their identity will not be revealed. According to them, Prime Minister Narendra Modi along with his top officials had decided to fight black money by withdrawing the existing Rs 500 and Rs 1000 currency notes from circulation and the decision was reportedly made six months back. Even the cabinet ministers were not informed about the development to make sure that the information was not leaked.
It is important for Prime Minister Narendra Modi to maintain secrecy for six months as replacing currency, which accounts for 86% of notes being in circulation is not an easy task. It requires a huge number of notes to be printed. Hence, in line with this thought, a team of top officials has been formed under the leadership of the Prime Minister who carried forward all the major decisions taken by the PM. The top brass made sure that the printing of notes will be done in secret until the Prime Minister announces the demonetization of currency officially.
Eventually, as you see, it was not a decision which was taken in a fortnight. The decision was powered by the hard-willed Prime Minister till it became a reality. If the aspirations of the Union government to increase its treasury by weeding out black money strikes success, then, it is very likely that the common man will go on to support Modi government even though it creates limited inconvenience in the beginning.
On the other hand, the BJP party is hopeful that the Central government’s move will favor them in the upcoming elections in Uttar Pradesh.