NB: The post has originally appeared on Facebook.
To those who are advocating PayTM like virtual currency and banking for everyone, well, is our system robust enough to support those who need the help most? What have we done for the deprived and desperate? Modi govt in fact had reduced allocation to various public welfare projects by 20-30%.
India has survived the financial downturn because more than 50% of public survive on cash transactions. It’s a cushion for an enormously public welfare-infra-deprived country. In US or in Europe the govt takes care of kids if the parents could not feed them. The old, disabled, unemployed gets social security support. Civil and human right is upheld as a norm.
However in India thanks to the public-media-govt apathy and many cases horribly cruel attitude, our poor, old, frail, disabled and unemployed have to survive on their own. Same is for those in the remote areas. No one will come forward to feed a kid if he/she is begging on the road. We witness this every day. Forget about individuals how come no govt department is designated to feed them? Because we have no system to support them. We don’t even have the intention of investing on it. We are crazy about swanky malls and bullet trains.
Yet govt wants poor people’s money. These are the people who don’t even get benefited by MNREGA or other such welfare policies. Or the meager amount paid as pension can’t even buy a month’s milk for the old. What do people do then? They resort to do odd jobs. They pick up anything to survive. Instead of feeding their own children householders in villages sell veggies from their garden, ghee from cow and fruit from an odd tree in the yard. Those who have lived in villages must have seen something similar. I myself have witnessed how such economy was the lifeline for villagers, particularly those who didn’t have a salaried job or own a regular shop.
Now with their money getting sucked into the system the safety cushion on which the poorest of poor lean on is gone. Along with this they will lose the personal social security system they might have forged among themselves after bonding for years of give and take. Never underestimate the mutually forged transactional relationship among people.
Will these banks rush to help them in times of crisis? Will govt feed the poor kids if the parents fail?
We are in for lot bigger impact on the social system and individual lives than just cash crunch!
I am not an economist. I don’t understand the mechanics of finance or banking system. So what do you do…Politics, finance and lives of people are something you cannot afford to suspend your disbelief. I draw from the things I have seen or experienced, I look around, compare, join the dots and interpreted as objectively and as rationally as possible like any normal person would do.
Anyone who thinks I am saying this because of my distrust of Modi(which is 100% true), my concern for poor people is superficial and I am a closet black money supporter, my response is
– GO F*** YOUSELF.
I have no respect and patience for selfish people and adult babies.