Coming Wednesday marks the first anniversary of demonetisation, which saw the government withdrawing Rs 500 and Rs 1,000 currency notes that accounted for an overwhelming 86 per cent of the value of all currency in circulation in the country. The decision, which was ostensibly implemented to curb black money and remove fake currency notes, was later explained as a move to transform the country into a 'digital economy' - making people conduct their financial transactions electronically through debit cards, mobile payments, etc.
Like in other parts of the country, the surprise 'demonetisation' decision disrupted the lives of a large section of people in Kerala, resulting in untoward consequences. There was a massive exodus of migrant workers from the state as their employers in various small-scale industries - ranging from plywood to cement brick making units and even restaurants - which employed them, either downed the shutters or reduced their staff significantly due to falling business.
The ATMs ran dry, patients suffered as hospitals refused to accept Rs 500 and Rs 1,000 notes, fisherfolk had to dump their catch as buyers chose to conserve their lower denomination cash, and instead opted to buy goods using their credit/debit cards.The tourism industry, the revenue mainstay of Kerala, would remember demonetisation as its 'death anniversary' while NRIs who were visiting the country could not convert their foreign currency, forcing them to depend on their relatives' mercy to meet expenses during their stay here. The agriculture sector suffered too:
The pineapple farmers in Vazhakulam found their regular bulk buyers in Mumbai and Pune backing out, forcing them to dispose of their produce at throwaway prices. In protest, they even conducted a 'pineapple festival' by distributing pineapple juice and pineapples free for a day!One year down the line, have the things changed? Have the wounds healed? Have the migrant workers returned? Have the neighbourhood shopkeepers started to use swiping machines? Have the menace of fake currencies and black money ended?
Express reporters went to the ground for a status check: To the migrant hub of Perumbavoor; the fishing hamlets of Chellanam, Munambam, Kalamukku (Vypeen) and Thoppumpady; pineapple centre of Vazhakulam and the leading shopping streets and so on to find the answers. In a series beginning today and winding up on November 8, the first anniversary day, Express delves into the heart of the matter.