DEMONETIZATION (NOTE BANDI) CAUSE OF SUFFERING FOR PUBLIC

EDITORIAL POSTAL CRUSADER, DECEMBER 2016

 

 The object of demonetization was stated by Prime Minister to combat corruption and black money .But without making proper preparations it’s implementation has caused suffering more to the public in general and Bank and Postal Employees in particular. All Government Employees, Workers, Farmers and small & big entrepreneurs are also suffering because of this. People start standing in ques in front of ATMs since early in the night. As the ATMs were not calibrated as per  new notes of Rs.2000/- and 500/- so these notes are not being put in ATMs and 100/- Rupees  notes are exhausted within a short period and remaining persons remain standing in ques. The decision taken in hurry is being changed frequently. Firstly it was ordered that anybody can change the old notes worth Rupees 4000/- from any Bank & Post Office, after that limit raised as Rs.4500/- and now it has been reduced to Rs.2000/- from the Post Offices or Bank where account stands.

            `No employer is giving salary to his employees. Shops are being shut. The business in Mandis is getting stopped. Workshops and factories are being closed. Workers are returning back from Metro Cities to their villages.

            The problems before farmers are aggravating. Now this is season of RAVI CROPS and Farmers are not able to purchase seeds and fertilizer besides having money. If it peasants come in distress it will adversely affect the economy of nation. Agricultural products like vegetables and fruits are not being purchased in Mandis. All the small enterprises, from brick Kilns  to factories , who have  to pay cash wages to workers have stopped working or not making full payment of wages as they have been allowed to withdraw Rs.25000/- . As per the RBI directives, distinct and primary co-operative banks which cater to millions of farmers are not allowed to exchange the votes. This has paralysed the banking operations causing hardship to farmer and rural population. Workers working in transport sector have become unemployed. The goods carrier vehicles have come to halt, as to operate these there is no money and it will result shortage of food items.

             The Government has authorized all Hospitals to accept old notes but the private hospitals and Nursing Homes have not been allowed therefore people are not getting proper treatment and some have died due to lack of treatment.

            Most of the work in this country is done by cash transaction. After barring 86% currency which was in the form of notes of higher denomination has caused suffering to the common man including labourers, farmers, entrepreneurs and government employees. The way in which this has been implemented adverse effect on livelihood of common man can be noticed.

            The government is claiming GDP at the rate of 8% but now it may come down up to 5% and the economy will take more time to come up after bearing this blow.

            The Government is claiming total removal of problem of corruption and black money after demonetization but experts are saying that there is only 6% black money in the form of cash and only 0.025% currency is fake. Rest 94% black money is in real estate, Share Market, Gold and Jewellery and foreign currency and so many other activities. For marriages, orders were issued to withdraw Rs.2.5 lakh but so many conditions have been imposed and fulfillment of these conditions is impossible and the people are committing suicide being aggrieved of it. To restrict withdrawal of its own money is clear-cut violation of constitutional provisions.

            With this decision the postal employees have also been very adversely affected. There is no adequate infrastructure in Post Offices. In most of the post offices, notes counting machines and fake currency detecting machines are not available. About 10000 Post Offices are single handed and he has to do all other works besides this demonetization work. The Post Offices are being opened since 8 A.M. to 8 P.M. and being opened on holidays and Sundays and no extra remuneration is being paid in lieu of this extra duty work.

            There are no proper security arrangements in Post Offices for cash remittance. Cash cannot be retained in Post Offices. To remit the cash from SOs to HO. The employees have to take risk. Banks are not ready to accept. The banned currency due to non availability cash from Banks. Postal employees have to bear the annoyance of public.

            NFPE has raised all these issues before Postal Administration and other officers and accordingly Directorate has issued instructions to settle these problems but still this is not sufficient.

            If the attitude of administration does not change than NFPE along with PJCA will proceed on path of agitation.