Newsmakers and news seekers in India had never expected November 8 to be this big. While the reporters and editors were busy writing tell-all stories about US Presidential elections, Prime Minister Narendra Modi surprisingly appeared on TV sets at 8 PM in a state of nation address and started speaking on the issue of black money. People thought it to be another mix of words on corruption till the time he hadn’t announced the abolishment of Rs. 500 and Rs. 1000 notes. Needless to say, he caught the attention of the nation. TV screens had to change the headlines, prime time slots changed the issue of debate. And, most of all, 120 crore Indians had to think how much cash in these two denominations particularly, they have in their homes.
Uncountable thoughts popped-up in people’s mind. The common man of India had some worries like – How do I get my money exchanged? Which bank should I prefer to deposit my money in the banks? From where to get lower denomination notes? How to get the payment done for the monthly expenses (not all of us receive salaries on 1st). Well, as said in the above sentence, this is the worry of ‘common man’. But for those ‘uncommon’ people, who had flocks of unaccounted wealth stored at their homes, the night became a nightmare. Politicians started appearing on TV screens started criticising/lauding government’s initiative. But as they spoke on the announcement, all of them had one thought going in their minds – “What I am going go to do.”
Somebody asked: If a poor person has only Rs. 2000, with four notes of Rs. 500, how’s he gonna eat for two days – many such questions popped up people’s mind. But wait! Wait!, what about Hillary Clinton and Donald Trump, one of the largest elections on planet earth is going on. The US, followed by the world is going gaga over elections. Some women just marched naked in support of Trump. Video of Clinton couple casting vote is out. Someone asks in the newsroom-US elections ka kya kare? And the answer is(jokingly) – what’s that! Reporters from India who have gone for coverage of US elections must be a bit relieved. Everyone is having his/her own viewpoint on the polls. Financial experts who were making notes of US elections’ economic effect on India, had their phones unexpectedly ringing for the view on abolishment of Rs 500 and Rs 1000 notes.
Going back on the ‘uncommon’ people, they have to spend their night counting notes and the ways to dispense it. Bank managers will be the other breed to spent sleepless nights. While headlines in US newspapers will talk about votes tomorrow, Indian media will mention notes in bold letters. After surgical strikes, this decision will be counted amongst the biggest by Modi government. Arguably, one of the most significant economic decision by any government.