Doubts about demonetisation

I am writing in reference to Kapil Komireddi’s opinion article, Modi is an unstoppable force – and that’s India’s great modern tragedy, (December 18).

Komireddi has done well to underscore the need for debate and even dissent in a democratic country such as India before vital decisions are taken or implemented.

It is increasingly evident that most of the illicit money in India was laundered or converted into assets such as gold within a few weeks of the demonetisation announcement in early November. However, small-factory workers and other low-wage earners have lost their jobs en masse.

The demonetisation decision had not been thought through, and it has caused immense and unprecedented hardship for the entire nation.

Unfortunately, the basic reason for demonetisation – that is, flushing out illicit money – has been whittled away in the process. Rajendra Aneja, Dubai The writer of the article appears to be living in the long-dead global dream of utopian socialism.

The narrative painted by the governing party in India is looking to drive transformation.

India’s painfully slow progress in contrast with other large economies is due to this overly subservient mindset of worship of democracy.

Transformative change is painful and it hurts large segments of society. Komireddi fails to mention the pain that citizens of Europe faced for six to eight months during its currency transformation. Name withheld by request