A Crusade against Corruption

By the Editor: Siddharth Sehgal

 They have a saying in military, “Sometimes, you have to blast your way through”. The ban on Rs 500 and 1000 currency bills as a legal tender came something like that; the fight has been taken right at the forefront of corruption. The cash, the all might cash, we so devoutly believe in for everything from groceries to graft, from tables to paying under the table will be obsolete, at least for a few days.

 Will it stop the corruption, may be not but a dent in the armor and that to a big one is better than no dent at all. The politicians, corrupt policeman & officials, shopkeepers and any lot who has a reason not to pay tax or disclose their income will have only three options, either go to the bank with all that cash and be ready with an explanation or desperately find a way to workaround the new law which will become increasingly difficult in coming days or simply, throw those bills in the river, organize a bonfire or if I were you, go to a rooftop of the highest building and make it rain. Yes it’s a hassle but its well worth it. Think about the real estate market, the builders who would gobble up bundles of money on highly inflated properties would and should have sleepless nights.

 And now that these 500 and 1000 rupees bills are no longer valid, UP election which use to be an orgy of cash handouts. Cash for vote, alcohol, laptops, cloths and mobile phones, all paid in cash and now since it will be easy to do shady business as usual, let’s hope that the new outcome of state elections will be a lot different. It sends a positive message both in public and to the outside world that Indian government is taking things seriously in tackling corruption.

 Over time, it will bring the costs down, your mortgage for new home will be low, the financial system will get a literal doze of steroids and people can invest more confidently in our markets. The acts of terror and other criminal activity which depends on often forged currency bills will find a major roadblock in their way. This will be remembered as a signature move of Modi government and to end on a lighter note, the two 500 bills I have in my wallet, I am not taking them to the bank, I am going to keep and frame them as a memory of these changing times.

One Comment

  1. Bharat N Sastry says:

    Siddharth ji, good one. It sums up what I feel.

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