Operation Black Money to Backfire on Modi?

We are on the fifth day into the ban of 500 and 1000 Notes and still things are far from being Normal or at least manageable. While most of the people are behind the government on this move, everyone feels that the government has failed miserably in handling the aftermath effects of the Notes Ban.

[m9ad]

People are still on roads to exchange their cash while even those who already exchanged are struggling to encash those 2000 Notes due to change issues. 500 and 1000 Notes form about 86% of the currency and the minority 100s, the 50s, 20s, 10s, and 5s are nowhere sufficient to meet the demand.

The Central government is yet to dispense the new 500 Notes and the Finance Minister the other day said it would take at least 2 months to calibrate 2 Lakh ATMs in the country which indicates more troubles ahead. Also, the state government’s revenues are very much hit and a cut in salary bills are also being mooted. Middle Class are worried if their savings of years are being considered as Black Money and will be penalized.

The patience of the common man is being tested and there are instances of lives being lost as people could not tender the new notes. If the Central government does not do something about this very quickly, we may even see civil wars since the majority of the transactions are in cash and the vast majority do not know what are paperless transactions.