Demonetisation: Modi’s ‘India Shining’ moment?

Demonetisation: Modi’s ‘India Shining’ moment?

FPJ BureauUpdated: Thursday, May 30, 2019, 11:16 AM IST
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New Delhi : Prime Minister Narendra Modi gives a statement to the on the opening day of the Winter Session of the Parliament in New Delhi on Wednesday. PTI Photo by Subhav Shukla(STORY DEL9)(PTI11_16_2016_000067B) |

Prime Minister Narendra Modi can conjure up anything, like a consummate illusionist. For the last 30 months, he has been able to skilfully convert seemingly adverse political situations into positives. Despite widespread public umbrage against rationing of cash supply through banks and ATMs causing inconvenience to crores of citizens and even resulting in as many as 23 deaths in a week, Modi has managed to keep the public ire under control as he succeeded in marketing the controversial demonetisation of Rs.500 and Rs.1000 notes as a bitter pill for the betterment of the body politic’s health, or in short, to end black money menace. Coming days will tell if the pill was too bitter to swallow.

Going by the media (both social and mainstream), one gets the feeling that at least 20 to 30 per cent Indians back his currency reform touted as a panacea, to purge black money scourge. After the much-acclaimed surgical strike across the LoC in September, he deftly spun a nationalism narrative around the demonetisation drive to defang his critics. After all, apart from eliminating illegal money, the second “surgical strike” is expected to cripple the terror networks thriving on counterfeit currency from across the border.

Trying to be in sync with the all pervading patriotic fervour, some media reports even claimed that demonetisation has “entirely halted all terror operations especially in Kashmir valley” and that nearly Rs.3000 crore hawala money in circulation has been rendered useless. If withdrawal of two high denomination currency notes could instantly choke terror networks in the Valley, the PM ought not have waited for two-and-a-half years to effect currency reform and the billions spent on fighting terrorism could have been saved. Last week, Mr. Sharma (full name withheld), an MNC employee, tweeted: “90 per cent people in the queue (outside banks and ATMs) are happy with the policy, but the ones who have hoarded black money are creating nuisance.” Sharma must be a superhuman; he could read the “happy” mind of 90 per cent people in the queues across the country.

That millions like him, who are part of BJP’s cyber army, unquestioningly support demonetisation condoning the reckless manner in which it is being implemented, is a measurement of Modi’s success in invoking “patriotic” spirit to hard sell a policy gamble. The positive reaction of the middle and aspirational classes, who are ready to suffer “short-term” disruption for the “greater good”, also underscores his success as a proselytiser of even the ideologically neutral segments. India Inc, a large section of media, bankers and Bollywood celebrities endorsed the decision.

The irony is that superstars who have been accused of stashing away slush money in a Panama bank have also come out supporting the move against black money. Even Sharad Pawar is speaking against illicit bucks. What is galling, however, is that attempts are being made to dub those who criticise the hasty decision that has wreaked systemic havoc, as “anti-national” and “unpatriotic.” No word of sympathy for those living on the margins of society (some 30-odd per cent still outside the banking system) and the loss of livelihood of lakhs of daily wagers and workers in the unorganised sector, who are suddenly left with no cash in hand. Far from a celebratory event, the hasty demonetisation has only accentuated the class divide; pitting India against Bharat. The subalterns are getting sandwiched between nationalism slogan and perjury while it is life as usual for the elites and big black money sharks.

Between 1994 and 2004, TDP supremo and Andhra Pradesh (undivided) chief minister Chandrababu Naidu was the darling of the “Pink” press. He was hailed as the poster boy of economic reforms by the media and India Inc. The aam admi, though, was unimpressed. Their living conditions had only worsened while drought-stricken farmers reeled under distress. He was booted out in May 2004. Ditto the case of Buddhadeb Bhattacharjee, another poster boy of reforms, who was dislodged by the Trinamool Congress. Bhattacharjee (CM between 2001 and 2011) tried to liberalise the state’s economy becoming the first Marxist sweetheart of the business honchos. Even foreign media extolled them. They were seasoned politicians, but ignored a critical component of reforms – “development with a human face.” Naidu apparently learnt some lessons and staged a comeback, thanks mainly to the decimation of the Congress in Andhra.

The demonetisation drive has earned Modi kudos even from the global media. Singapore-based The Independent compared him to late Lee Kuan Yew, the nation-state’s founding father. Forbes also patted him saying despite chaos, it is working.  In a glowing tribute The Independent  said “Modi does a Lee Kuan Yew to stamp out corruption in India.” The New York Times, quoting analysts, also endorsed it as a wise move. Even China’s Global Times described the move as “startling and bold.”

As prime minister, Atal Bihari Vajpayee had also become a victim of adulation and development sans human face. He was led to the garden path by his cheerleaders who coined the “India Shining” campaign in 2004 and the BJP lost the poll. Modi is trying to emerge a bigger reformer than Narasimha Rao, Vajpayee and Manmohan Singh.

Domestic and global adulations and the so called success of “surgical strikes” (more are said to be in the pipeline) could enthral Modi. Nonetheless, corporate endorsements and fanciful slogans may not be enough to get re-elected in 2019. It is in his interest that the script does not go the Vajpayee way.

When agendas are pre-determined and public perception is manipulated, there is the danger of the subaltern voice getting drowned in the phoney, nationalistic cacophony. It will be perilous not to pay heed to them. They may be silent, but they talk, and decisively, at the time of elections. Reform by all means, but with a human face.

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