Vie-President Shri M.Venkaiah Naidu has stated that due to demonetisation, the money has come back to the banks and the interest rates has come down.

Yes. Black and white money has come back and when the counting of the notes is over, there is every chance that it will be much more than the notes printed. The counted notes so far is almost as the number of notes printed.  Interest rates have also come down.

But who are the beneficiaries? Demonetisation gave a big chance for conversion of black money to white as the various reports in the press have shown. It has, of course, benefited the black money holders, corporates etc. Because funds are available in banks, they can lend thousands of crores of rupees to the corporates, who will not return it and will be treated as bad loan. And interest rates have helped those taking loans but crores of common people have lost their interest for their savings.

Demonetisation was nothing but a bad experiment which deeply hurt the common people and deranged their lives. Hundreds of people lost their valuable lives, either standing in the queue before ATMs to get their own money or due to the mental pain being unable to send their children to school, conduct marriage or admit to the hospital etc. due to want of money.

Demonetisation was nothing short of demumanisation for the common people, but a rare opportunity for the rich and powerful.

The first report was about Rs. 11,500 crore loot by Nirav Modi. Every day the amount is increasing with further loans taken from many banks.  The latest figure is more than Rs. 30,000 crore. Another report says that more than 62,000 crores have been lost to the banks. There seems to be no limit to the loot.

And where is Nirav Modi? He was in Davos in Switzweland  for a meeting along with Prime Minister Narendra Modi as per reports and photo published. But he is not traceable now according to the Government. Wonderful!

Why he was not arrested when the report of the loot was with the government a few weeks back? Why he was given the opportunity to leave the country? Somebody jokingly asked whether Nirav Modi left the country in the same plane along with Prime Minister to Davos?

Many questions are to be answered both by UPA and NDA governments since it is stated that the scam started in the UPA government period and continued for 4 years NDA period with out any action.  The people have a right to know.

Photographs of BJP ruled Rajasthan Health Minister urinating openly on the side of the road with his car in the background has gone viral in the social media. No apology or explanation from the Minister.

Is it the method of implementing Clean India Project of Prime Minister Narendra Modi?

The serial ‘Looting and leaving’ the country continues with the full knowledge of the Government, whether UPA or NDA.

Looting the country, the banks and the hard earned money of the common people and then leaving the country with the connivance of the ruling party and government continues. Lalit Modi, Vijay Mallya and now Nirav Modi. Whether UPA or NDA, there is no difference. These looters have high level political connections even with the Prime Ministers, what to say about other leaders. It is reported that even after FIR was filed against Nirav Mody, he was present in the Davos meet and photographed with Narendra Modi, Prime Minister! Look out notices will be issued when the scam is exposed, but well before that these barons will leave for foreign countries with the loot. Case will be filed, it will continue for years with out any decision and at last people will forget and these cheats will return and continue further loot.

They will never be caught because the rulers will be exposed when the looters open their mouth. Hence it becomes the necessity of the powers be that these looters are not caught. They are allowed to escape unscathed.

Can this situation be allowed to continue?

The latest scam in India is in Punjab National Bank. Rs.11,500 crore has been siphoned off to foreign country during the last few years. In the one branch of the PNB at South Mumbai, the above said amount was lost to the Bank in which diamond merchant billionaire Nirav Modi and some officers of the branch are involved. CBI as well as Enforcement Directorate have filed FIRs. It seems that the bank authorities and the government were sleeping when all this loot was going for years together.

Public banks are looted and the government looks as an outsider. The people can not be blamed, if they suspect that all these are done with the complicity of the government. Mallya has left the country and Nirav Modi may also escape. The case will go on, but whether the culprits will be punished? The chances are less.

The government is proposing one more merger of PSUs. This time it is the merger of the Insurance PSUs viz. National Insurance Company Limited, United India Insurance Company Limited and Oriental Insurance Company Limited.

In the name of making bigger and better companies, all the mergers of PSUs so far done have been disasters.  Merger of Air India and Indian Airlines made the PSU loss making. Merger of its associated banks with State bank of India resulted in loss for State Bank, which was unprecedented. Now the present proposed merger is not going to be different. This is intended to give benefit to the private insurance companies as was the case with the earlier mergers.

The reaction of the Unions of the Insurance companies is yet to come. I hope that they will examine the case seriously take the correct decision.

International Labour Organisation (ILO) has warned that 77% of Indian workers will face employment vulnerability by
2019, which is much higher than world level.
According to the ILO’s latest report, the number of jobless in the country will increase to 18.6 million( 1.8 crore) in 2018 and 18.9 million in 2019, against 18.3 million in 2017.

Unemployment is increasing every year. The much publicised election promise of Prime Minister Modi that the new government will provide 2 crore job every year was only to dupe the people. Nothing is done and there is not even any remorse or apology for not fulfilling the assurance.