NEW DELHI: “It’s an election stunt,” Congress leader Vayalar Ravi had thundered in Parliament on March 21, 1978, accusing the Morarji Desai government’s move to demonetise high-value notes with an eye on targeting political parties. The Janata Party government had then denied any political motive behind the move. However, its poor performance in six State polls that were held after ‘notebandi’ may not augur well for the incumbent government.
“Will the positive outcome be interpreted as people’s vote for demonetisation and rejection of the Opposition’s attempt to cash in on people’s suffering?” There are no straight answers to this question from the BJP leadership who cited recent victories in Maharashtra, Gujarat and Chandigarh civic polls. They are upbeat about the party’s good performance.
The answer to ‘Modi vs Rest’ battle in five states perhaps lies in the comparison of two Gujaratis — Modi and Morarji — who faced massive Opposition onslaught that the ultimate aim of demonetisation was to purge huge political finances of certain parties just before the elections. Of the six assemblies, the Janata Party government could do well only in Arunachal Pradesh and Assam though it had decimated the Opposition less than a year ago. The BJP will have to test the waters in UP, Punjab, Uttarakhand, Goa and Manipur in February–March.
“There is absolutely no comparison because people have voted for the government’s decision to demonetise high-value notes in the recent local body elections. The results are an endorsement of Modi’s move and initiative to curb black money and make every paisa accountable. He (PM) is working for the poor and money that will come into the system will benefit poor and marginalised sections,” said a BJP leader.
But can demonetisation and politics be seen in separate spheres? Perhaps not, as Modi himself, in an apparent swipe at BSP in a Lucknow rally, said there is a party whose worry is where to keep the money.
Hukumdev Narayan Yadav, Janata Party member in 1978 and now BJP Lok Sabha member from Bihar, had made similar observations quoting media reports that big notes were found to be in possession of a particular party hinting about then and now opposition Congress. C N Visvanathan, who had told Parliament in March 1978 that there could be some political motive behind the move, made this clear. “People are thinking whether this bill (demonetisation) is intended to curb indirectly the funds of a particular party before the elections in six states.”
“Why was this step taken before the elections in six states especially Andhra Pradesh and Karnataka? The ordinance was promulgated on 16th January but actually instead of helping to stop the illegal transactions, this bill may help stop the financiers of the political parties from contributing to them,” Visvanathan had said.
“It is not about elections. It is about our fight against corruption, taking economy to a new level of transparency while going digital and curbing black money. We understand people faced troubles in the process but that will reap long-term gains and our party is confident about it,” said a senior BJP leader.