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Demonetisation: Why Narendra Modi’s note ban move was necessary

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May be the effects of Demonetisation on terrorism……….

Demonetisation: Why Narendra Modi’s note ban move was necessary

Demonetisation was necessary to deal with the country’s ‘conflict trap’


Data from South Asia Terrorism Portal states that over 700 terror-related deaths have occurred in India each year since 2014.----------------------------------------------------------------------------------------------------------------------------------------------

Demonetisation is a harsh measure that is expected to work as a double-edged sword, to primarily kill two among the several demons plaguing the Indian economy. On the one hand, demonetisation is an attempt to bring substantial amount of black money into the economy with crackdown on corruption; and on the other, to disrupt the funding of terrorist activities which have been surviving on counterfeit currency.

Since a lot is being written about the first aspect, we consciously begin with the second and address the importance of mitigating conflicts and promoting peace. Data from South Asia Terrorism Portal states that over 700 terror-related deaths (including civilians, security personnel and terrorists) have occurred in India each year since 2014, of which a large component is on account of either left-wing extremism or terrorism in Jammu and Kashmir. Until November 2016, 789 fatalities had taken place due to conflicts, of which 230 were in J&K, and 386 because of Left-wing extremism. Of the 230 deaths in J&K, 11 were civilians, 73 security personnel, and 146 terrorists. Children missing schools, businesses remaining closed, and governments allocating resources to less productive services such as defence, impedes both the present and future growth potential of the region. Rightly, Collier in his 2007 book titled ‘The Bottom Billion’ cited ‘conflict trap’ as one of the four development traps, besides natural resource trap, being landlocked with bad neighbours, and bad governance. Conflicts have large economic costs, and the longer a country stays in a state of conflict, the more these costs are. In 2007, cessation of violence was expected to generate a “peace dividend” approximating 13% of the 2007 gross world product! The dynamic component of the peace dividend comes from the total additional economic output likely to occur due to the liberation of human, social and physical capital, which was suppressed by violence. Static peace dividend, on the other hand, accrues from the economic activity that would be transferred from violence-related industries to peace-related industries.

So, the question that arises is how can demonetisation bring peace?

Undoubtedly, this shall be a major win for the nation.

Read more at: http://www.financialexpress.com/opi...dra-modis-note-ban-move-was-necessary/507513/
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