Notes ban required;implementation tardy

By Our Reporter

SHILLONG, DEC 6: Former home minister and MLCU vice chancellor RG Lyngdoh felt that the instances of seizure of ‘unusually large amount of black money’ indicated that demonetisation of the Rs 1000 and Rs 500 notes was required even as he said the implementation was ‘faulty.’

Lyngdoh- who during his avatar as politician and minister was known for his impeccable honesty and integrity- said, “The objective of Prime Minister Narendra Modi to fight against black money through demonetisation is noteworthy, but the implementation is faulty.”

Lyngdoh was of the opinion that because of the faulty implementation that led to the scarcity of smaller denomination notes which in turn affected small and medium businesses all over the country. He felt  that the union government could have had better coordination with the Reserve Bank of India (RBI) for better planning  in implementation post demonetization to offset affects of the ‘much needed exercise’ against black money.

Besides, Lyngdoh added the demonetization also seemed to have affected professionals and politicians alike.