Master stroke ! Bold ! Unprecedented ! Ambitious ! Foolish ! Devastating ! We have been reading all such reactions from politicians , journalists , economists and the Aam Admi .. in this milieu of contrasting voices how does one judge the demonetisation decision of our Prime Minister ? Will it achieve its intended goals – unearth black money , stop counterfeiting prevent  funding of terrorists and put a curb on corruption ?
Stop counterfeiting – Yes … without doubt … the new currency could largely address this .
Funding of terrorist – in the short term – Yes .. however as the cash gets back into circulation … this menace could recur . The visible success is what we are witnessing in the Maoists surrenders and the almost complete stop of stone throwing in Kashmir valley .
Curb corruption – it might be at a low right now due to the absence of cash – but it would be foolhardy to expect that it would be reduced due to demonetisation . As long as people have greed , are dishonest and where the society acclaims the powerful and rich irrespective of their source of funds … corruption shall prevail .
Unearth black money – to a limited extent – Yes . It depends on the quantum of black money held in cash and again the ingenuity of holders to convert it into legitimate currency .

For sure there are collateral benefits just as there have been collateral damages . Digital money or E wallets have got a boost – this in turn should bring in many more commercial transactions in the banking domain and help the governments tax collections . Hoarders of black money have got a jolt and at least a few may refrain from getting back to their murky ways . The aam admi who did not want a bill and was happy to evade the indirect tax – may think twice – not because she has suddenly become honest but because of the fear of being caught by authorities who have become more vigilant . For the masses , the poor the middle class it surely is a good feeling that the rich are being punished for their dishonest ways . However the flip side is the hardship on the migrant worker and the daily wage earner , the hawkers and the petty self employed , the thousands and millions in the unorganised sector . With the cash sucked out of the system their livelihoods have been severely affected . Indeed they are being asked to pay a big price to teach the greedy and the rich a lesson . However it should be a short term effect and they could go back to their cash and subsistence economy as soon as there is enough available .

The Prime Ministers intent is honest and for a just cause – although not totally devoid of any political calculations . Surely no political party is happy about it ( they all indulged in notes for votes  ) . The large bureaucracy which runs the government and which has totally failed to deliver even basic services is alarmed and upset . The professionals and the rich traders and businessmen who had got into the habit of evading taxes have been caught on the wrong foot … its the salaried class … the honest business man and women .. a minority .. and the poor who are rejoicing …  with the hope if this could usher in the ache din …