Mamata, Modi ignore demonetization effect, script their high points for gain
KOLKATA: If Narendra Modi dream of cashless society is expected to “script a financial disaster,’’ as some for foreign media and former Prime Minister and economist Manmohan Singh said, Bengal Chief Minister Mamata Banerjee’s intemperate invectives gradually seems eating up her popularity.
It’s a double-edged blade will cut both sides,’’ says a politician of State Congress who wants to remain anonymous.Incidentally, if economists believe Modi did not realize the truth about a vast rural population who would just not be enthused to engage in Prime Minister’s cashless dream, Mamata Banerjee ignoring the economic outcome of the demonetization effect which could be quoted to spike Mod’s dream, would isolate her nationally.
More so, as observers believe that she has grown more intemperate with CBI arresting her party MPs on grounds that they were all tainted and linked to chit fund cases. “She is not trying to protect them?’’ Some observers also points to her party’s links with chit funds which looted the poor in the state. Interestingly, none of the people cheated were given any compensation as yet!
But with Mamata Banerjee refusing to buy reasons in deeper economic issues which as an outcome of demonetization would fetch, losing her sense of pressure politics in realistic terms .
Some of the Left leaders who seem regionally lost it out to TMC, feel “well this may not be the correct route. What our Chief Minister did to protect the consumers from inflation which is just waiting to take off?’’
Coming to the outcome of demonetization is a must. We already know it has hit the GDP and waiting to investment plans which would hit the employment process very badly,’’ said an economist of Calcutta University.
Let us not forget thousands of crores of rupees were used (till 30th December 2016) to buy gold and now they can go back to home fetching you money you spent to turn black into white,’’ he added.Did Mamata or Modi paid any attention to these issues? As another economist.
