And for a Friday in Demonetised Mumbai…. some thoughts….
PROCESS is very important. Let’s recollect Winston Churchill, Feb 1931, “The loss of India would be Final and fatal to us. It could be a PROCESS that would reduce us to the scab of a Minor Power”. Brexit ensures the Final nail in the PROCESS.
Brexit, Trump and China will ensure that inspite of Germany, the World goes the Protectionalist way.
India then is the only large Hinglish Speaking Democracy, whose Domestic Consumption Economy will benefit from falling Commodities and Capital chasing growth. More Startups….. more Jobs.
Jugaad Technology…. Only Indians can beat any system. Early stage 500 Re Exchange. Burqua clad woman hired to go from Bank to Bank get 4500 Rs. All workers and staff sent by the Boss with his black Money….. 50,000…. get 45000 from Banks and keep 5000. Then came the marking Ink on fingers…. all fake. Queues disappeared.
Cooperative Banks…. there are 370 District Coop banks and more than One lakh Credit Cooperative Societies. Most of them Controlled by Rich and Powerful Political Satraps…. in the names of the “Poor” and “Oppressed ” Farmers. The real Farmer is perpetually in Debt and has never kept any 500 or 1000 Re notes.
Some of these Coops had exchanged 100, 50, 20 and 10 Re notes for 500 and 1000 after the PM speech. WOW…. Jugaad at its best.
Let’s all accept that Demonetisation is the first step in the PROCESS of building a Developed, Inclusive and Pluralistic democratic India. It’s long, uphill, and tough.
Let’s all of us support the PROCESS…. the Ethical…. Honest….. SEEGOS way.