Fifty days of demonetization is over and the whole nation is still confused and oscillating around banks and ATMs like a pendulum bob. Even the top brass of the bureaucratic system are unable to answer for this misconduct. The government may be chest thumping and claiming success of its move but they needs to realize that it has killed daily wagers and small and medium enterprises dearly. Otherwise, what was the reason for amending their notification for more than 80 times? Ironically, the central government is showing the success of notification through lower inflation numbers but in reality, it went down because of the lowering of the purchasing power capacity of the public in general. This ‘surgical blow’ on the inflation doesn’t reflect into the kitchen of the public in general. Even the opposition failed to trap central government on demonetization and rather walked into the notification trap. Only politician who wittily handled this entire episode is Bihar CM Nitish Kumar who supported the move citing ‘demonetization is half a step until and unless it is followed by crackdown on the Benami Property.’ He remained mum for the whole 50 days and opened up on the eve of December 30, the day when 50 days sought by Modi expired.
The central government declaring infrastructure projects into the remote regions has importance as it connects major Hindu pilgrimage sites to pump the Pilgrimage Tourism. These projects serve not only social and economical aspects, but at a time when these projects have been announced it serves the political purpose too. Hope, these projects don’t have the fate that happened with Bihar projects worth Rs 125 lakh crores. In last two months, FDI and FII investors have shown least interest into the Indian market and hence our economy is bound to get hit as mentioned by former Prime Minister Dr Manmohan Singh in his parliamentary speech on demonetization. In the last two months, a perception among the public in general has emerged that hard earned public money saved in various banks are being used to help giant corporate houses neglecting the parameters required before disbursing corporate loans. Such malpractices have led to raise in banks NPAs. Hence, if the government comes with white paper on the bank NPAs that took place in last 70 years would be a move that would justify the demonetization.
Mulayam Singh Yadav announcing 325 candidates for the UP polls and rest of the candidates name to be announced soon indicates that talks of Congress-SP alliance has failed. But, Mulayam Singh paying heed to his brother and neglecting Akhilesh’s list of 403 candidates can be a major jolt to SP’s bid to Lucknow, especially when Akhilesh has announced his own list of candidates, sparking Akhilesh-Shivpal rift once again. The way things are moving either Akhilesh will have to surrender or defect from the SP. In both cases, SP will be on the loser. As Congress party is not in shape to take advantage of this development, it looks that Muslim voters may consolidate behind BSP. Can Mayawati hold that mojo?
Appointment of Lt. Gen. Bipin Rawat as army chief before Uttarakhand assembly polls, inauguration of Shivaji Museum ahead of BMC polls indicates that the central government is going to depend heavily on the local icons to win coming state and local body elections. But, politics apart, the government must pay heed to fast re-organizing local insurgent groups in Assam because it can again destabilize the peace in hill state.
In coming New Year, India can expect to crack into the NSG as it fulfills all nine parameters of the draft prepared by former NSG chairman Rafael Mariano Grossi. But, at the end of 2016, India had to face big shocks from its old friend Russia vis-à-vis Pakistan, especially when the Russian president Vladimir Putin seconded the China-Pakistan-Economic-Corridor helping China and Pakistan to become a part into this economic corridor. This change in Russian diplomacy in regard to India indicates that after decades Russia-China and the US are on the same page. If it happens, then it’s dangerous for the smaller nations around the South China Sea. It would also create unrest among the Middle East nations.
When this magazine would hit the stalls whole world would be busy celebrating happy New Year. I wish Happy New Year to my readers and hope there would be no Kalmadi or Chautala like people at the IOA and other sports organization from the year ahead.