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    EditorialIndulging into self-praise

    Indulging into self-praise

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    Indulging into self-praise

    A few days back the BJP took its Executive meeting as an occasion to celebrate what they called success of demonetization and reduced it in an economic resolution. While elections round the corner in five states and electoral significance of Uttar Pradesh, BJP took it as an occasion for introspection. The party appreciated that the masses accepted the temporary suffering with enthusiasm and asserted that black money had now been deposited in banks that will lead to high revenues and bigger and cleaner GDP.

    Its leaders stick to the line that demonetisation would a panacea for all ills of black money in circulation of bringing long-term benefits to the country but the Modi government would have sounded far more balanced and credible if it had candidly admitted that some lessons had been learnt from the hiccups in implementation which the government would keep in mind for future. It could well have gone on to say that it regretted the hardships caused to people and lauded the manner in which they so stoically bore those hardships for the larger national good. By the same token, while it was fine to slam the Opposition for being too negative which it has been, the tone of the resolution could have been to counsel the Opposition to join in this national endeavor to root out black money, counterfeit currency and sources of terror funding. To sound accusatory is unnecessary after all the fire and fury in Parliament and outside from both sides.

    What was particularly significant and praiseworthy in the national executive meet was Prime Minister Modi's stress on electoral reforms. People have a right to know where our funds are coming from, he said, while indicating that the move is in sync with the government's demonetisation drive. There was a hint thrown that the government could bring in a Bill in the upcoming session of Parliament to provide for greater transparency in election funding.

    An all-party meeting could be called during the session to deliberate on the issue but the government is determined to take it through. The economic resolution's claim that a lot of black money has been deposited in the banks, that it has lost its anonymity and that the informal will now increasingly integrate with the formal economy are sound claims on paper. That this would lead to higher revenues with the States and the Centre and to a cleaner GDP will be tested as time goes by. It is heartening, too, that there is today more money with the banks to lend.

    The BJP's satisfaction over there being 107 crore mobile phone connections in the country, 147 crore bank accounts including 117 crore savings bank accounts and 25 crore Jan Dhan accounts, 35 crore smart phones, more than 40 crore Aadhaar-linked accounts and more than 75 crore debit cards is justified. That this is leading to a strongly digital economy augurs well for the future.

    Northlines
    Northlines
    The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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