Subramanian Swamy a man who is tough to be convinced has given 9/10 for Modi’s decision on demonetization. Although Subramanian Swamy says that few more tough decisions should have been taken altogether, he says PM Modi has shown keen interest in revamping the economy completely and curbing the menace of black money.
He goes to say that this decision has benefited India to a very great extent and destroyed the fake currency lobby which was running a parallel economy.
Interestingly he says that Pakistan knew the type and quality of paper which India used, although it was completely a secret deal between the Indian and British company Delarue, somehow the message was passed on to our rivals in Pakistan. Even though India had the potential of making our own currency papers, for some reason the previous government struck deal with British for importing the currency papers. The previous Congress Government in spite of knowing that Pakistan used the same currency notes as India continued to import the currency papers from the same company.
But the new currencies of 2000 and 500 Rupee notes have been made with completely indigenous materials and protocols which is hard for any country to remake the currency paper exactly the same way.
Swamy who is very practical says that the Finance Ministry should have been more prepared which could have reduced the burden for people in cash crunch. He adds although he expected the finance ministry to be more prepared and could have started the process atleast 2-3 weeks back before announcement, they have learnt quickly and keeping the pace with the demand. Swamy says that the calibration of ATM machines will be done in 40 days and people will definitely will experience the benefits of demonetization.