Screening of “ DREAM OF FARCE ( AN INTERROGATIVE ENQUIRY INTO DEMONETISATION ANNOUNCED BY MODI ) “

The high decibel announcement of “ demonetization “ by Prime Minister Modi went all round in India sounding like a prescription of panacea to black money problem terming it as “ beginning of end “ of Black money in India. The demonetization seizes almost 85% of cash in value and 25% in volume aggregating to Rs. 14 lakh crore ( per capita currency holding of Rs. 11-12,000 ) , which is like total refurbishment of currency management system in the country. We shall first recollect what is the size of Black economy we have in this country T black economy is estimated to live with a size above ¼ th our GDP , which roughly translates into close to a figure of Rs. 30-35 lakh crore. Just to commiserate the kind of loss due to this size, we can feel it better if we realize that this is the amount of budget that can be handled by 25 states like size of Telangana. In other words, this is almost equal to state and central budget put together. Having said that, we must realize , the demonic size of Black money and proactive aggression , politically and economically, needed to handle such a giant. Next , as against this back drop, we shall understand what Modi has promised to Indians to climb up to the level of PM. While Narendra Modi promised that Rs. 15 lakh can be credited to each individual once he brings back black money into the country, Amit Shah has washed it off saying “ it was just an election jumla “. Now, let us , for a moment, if Modi’s calculation is right , the Black money , to be brought “ back “, is of a size of Rs. 1800 lakh crore, which is like 150% of our GDP. Still, giving a delta figure of ignorance to this overenthusiastic calculations to Modi, we still cannot ignore the size of the gentle man promise he has made to the public.

The short discussion format video “ Dream of Farce “ discusses very familiar but unfounded questions on optimism about demonetisation. The movie is released by Kalachakra Films , format and interaction by Mahesh Kathi, concept designed and edited by Satya, produced by Rudra Kottu and answers framed by corporate finance professional Victor Vijay Kumar. This short video of < 45 min. deals with – if demonetisation is an effective and validated measure at all ? If so, what is the cost involved ? Can we understand the sources of black money ? How do we debunk the loan write offs by banks in this context ? Is the spirit of this measure not good and does it not deserve minimum support ? etc.