Jeyamohan Feels Let Down By Leftist Forces Opposing Demonetisation. Here’s Why.

Famous Tamil writer and literary critic Jeyamohan has come out in support of Prime Minister Narendra Modi's move to demonetise Rs 500 and Rs 1,000 notes. On his website, he said the prime minister’s action had become necessary because of the disaster the Indian economy faced on account of black money. He confessed that he had previously opposed the Modi government because he considered its support base anti-modern and anti-egalitarian, as well as being made up of socially stagnant forces. Yet, he felt he had to support the demonetisation move, for the right reasons.

He also said he had always supported the leftist forces and felt that their opposition to this government move was a let-down.

He enumerated the possible advantages of the demonetisation move as follows:

• It would force the economy to become more bank-based. Even if that is not fully achieved, a 20 per cent leap towards becoming a bank-based economy would have a positive impact on the economy as a whole.
• The stagnant money would be forced back into circulation – which is, needless to say, good for the economy.
• A major portion of the counterfeit money would have to be destroyed and it would take years before it came back. In that time, Indian economy would have turned robust.
• At least 20 per cent of the black money would be taxed and that is a great victory given the current circumstances.

Elaborating further on the opposing forces, Jeyamohan said three types of people were opposed to this move – those who have black money, those who hate the prime minister and a section of the middle class that is frustrated with standing in queues and buy into the media propaganda.

Conceding that he is not an economist himself, the Tamil writer wrote that he had expressed himself as an ordinary citizen. He felt hurt because, in his view, the media was running a sustained false campaign against what was a good move. He said that in six months, the debate would end and normalcy would return. However, those who are against this move want to create as much panic and negativity surrounding it as possible. When history records this event, he wrote, these people will forever be named as those who stood for black money and against the health and prosperity of the Indian economy.

He said he would be condemned and harshly criticised for writing this at this point in time, but he would ultimately be vindicated by history.

Jeyamohan declares that while every liberal politician should oppose Prime Minister Modi – as he himself does, it is a paranoid exaggeration to claim that the country’s prime minister had come to destroy India. He added that most of the anti-Modi articles he had encountered of late were communally motivated. He wondered if not a single writer could overcome his communal prejudice and support the action in the larger interest of the Indian economy.