Demonetization is supposed to be a surgical strike on the
cancer that is black money.
In a cancer surgery, the onco-surgeon skilfully excises
the tumour from the body, making all efforts to keep the surrounding healthy
organs intact.
Demonetizing 86% of the currency in circulation clearly
does not do that. If black money is a cancer, demonetization is more akin to
chemotherapy.
In chemotherapy, the toxic medicines do not distinguish
between cancer cells and healthy cells. They just indiscriminately target all
fast growing cells, since this is a characteristic of cancer cells.
Unfortunately, this is also a characteristic of other healthy cells in the body,
blood cells, for example. Chemotherapy kills those too.
As a result, the body also weakens. And it takes a long
time for it to recover. Ask me, I’m a cancer survivor and I've been through chemo.
Demonetization is doing the same thing. It's attacking
all money indiscriminately. Not just the 500 and 1000 rupee notes held by black
money hoarders, but 500 and 1000 notes held by common citizens as well. Sure,
black money hoarders are panicking. But the nation itself is taking a beating. Like
the red blood cells so essential for our well-being that are destroyed by
chemotherapy, these currency notes cannot be replenished fast enough by 100 and
2000 rupee notes. Productivity is suffering, commerce is suffering, daily wage
earners are suffering.
And at the end of the day, chemotherapy is not a
guaranteed cure. There are only probabilities. Just the same, demonetization is
not a permanent solution to black money.
My cancer could be back. And so will black money.
