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Small denomition currency notes and coins flood Barak markets

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  11 Dec 2016 12:00 AM GMT

Special Correspondent

Silchar, Dec 10: Banks may still face cash crunch and ATMs may run dry and the Union Government faced with mounting criticism from the opposition might speak of easing the situation in next two weeks, markets of Barak Valley surprisingly are flooded with small denomition currency notes of Rs.10, Rs.20, Rs.50 and Rs.100. This has come as a relief to the common people who often have to scramble for them. Their sources are definitely those businessmen, big and small, who have taken pleasure in hoarding them.

This sudden spurt and surge in currency notes and the coins of Rs.10 and Rs.5 has been attributed by knowledgeable circles to a sort of panic created among big and small businessmen about the reported next unpredictable move of Prime Minister rendra Modi. A website has gone viral with the information that rendra Modi is planning even harsher steps. Demonetization is not the end, but a beginning of the move to reform economy and divest it of black or uccounted money. This is in conformity with the declared directive of the Indian Constitution for social equality.

Demonetization did happen just after the partition of India in 1948 and again during the regime of Prime Minister Morarji Desai. But this time, demonetization has been on an unprecedented manner and its dimension has been rather wide and large due to the phenomel rise in population and the fastest growing economy in the world. How far demonetization has helped in unearthing black money or creating a dent in their circulation is difficult to say? How much black money has been seized by the enforcement department or income tax sleuths? It is to be assessed and calculated till the period of demonetization ends of December 30, 2016.

From all accounts, notwithstanding the controversies and debates and the logjam in the Parliament, it has sent a message clear and loud to all hoarders of black money not to indulge in such fancy. It is not unlikely that many might have secured their black money by taking advantage of the loopholes in the system. But, for the common people of Barak Valley, one perceptible benefit is the easy availability of small denomition notes and coins to them, so long elusive. On the whole, people of Barak Valley have gradually come to grip with the situation despite all their trials and tribulations.

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