Demonsterization & The Holy Cow of Corruption

"At the stroke of midnight when India awakens....." Nehru's memorable speech whence we gained independence."  

Now and then, India awakens but often with hiccups! This spasm that has come is of quake-like intensity... a thunderbolt.  

On one stroke, a little before midnight the sleeping country awakened. It gave sleepless nights to those with large stacks of black money in notes of 500 and 1000. The very instrument of exchange promised security was subject to demonetization. Since the legal tenders (read legal income) were being accepted albeit in a short period, this action was not that of distrust by the financial institutions in India.    

This was an event waiting to happen. A nation reeling under the corruption of unfathomable magnitude since Independence finally came to terms - enough is enough.  The corrupt with an immense amount of undisclosed wealth was running a parallel economy much to the impairment of the nation's real economy. 

The monsters hidden in all wakes of life were at extreme comfort, under a system that prevailed without any obstacles in their unholy path.

A holy cow that no one dared to touch.

The large-scale hoarders rarely faced any punitive action such was the invincible strength of this system.  This was also a blow to racketeers indulging in counterfeit currency in India and abroad. The lethal nexus of criminals, smugglers, and those involved in heinous terrorist activities, all those who survived on fake currency have been hit hard,..they were bound to.  

The scramble began as soon as the announcement was made. Some... real estate dons, businessmen, politicians...criminals, and habitual tax evaders all those who indulged in nefarious activities were caught unprepared. The attack on the tentacles of corruption led to an unprecedented upheaval...all were awoken by a little before-midnight announcement, for many, there was sleep lost forever.  

Amid mind-boggling consternation, things became clear whence the junta woke up in the morning. This was the right step that awaited for a long time, the average Indian put forth his views. Much discomfort was due but if the action augured a better future then all was bearable.

There is expected to be a big overhaul in the systems that prevail..systems that had failed in curbing the menace of parallel economy. This praiseworthy action calls for structural changes which are robust and effective.  

But if success strikes which are very likely...there are some fears.

Will those empowered go overboard?

Will the regulatory mechanism affect those who are not into nefarious activities?

Will there be a lack of pragmatic governance after being emboldened?

These are genuine worries, though the opposition which is the crying wolf is a safeguard against authoritarianism in our country. And so are the electoral imperatives and vibrant media.

There is a lot of hope from the present establishment in power. The action is not comparable to banning beef which was accepted stoically due to the large-scale sentiments that prevail in the country.

The impact will be accessible in the near future. But the gut feeling is that demonetization is a step in the right direction.