Green Riyadh launches community planting initiative with Sports Ministry    Saudi Arabia to establish independent network to serve industrial and business sectors Aramco Digital qualifies for Specialized Radio Network License in 450 MHz band    Turki Al-Sheikh announces major development for Kingdom Arena    Commerce Ministry refers company director to public prosecution for suspected financial fraud    Death toll from Israeli attack on central Gaza jumps to 210    Torrential rain, dam overflow trigger flash flooding in Sydney    Former Apollo 8 astronaut dies in plane crash near Seattle    Mahd Sports Academy appoints Mike Puig as Deputy CEO for Sports    227,000 rooms licensed in Makkah hospitality facilities, announces Tourism Ministry    220 Saudi Girl Scouts to assist pilgrims in Makkah    Makkah deputy emir inspects Hajj terminals at Jeddah airport    Saudi Aramco announces final offer price for secondary public offering at SR27.25 per share    Saudi national football team wins 3-0 against Pakistan in World Cup qualifiers    Saudi Film Nights to be held in Sydney and Melbourne    Eleven tons of rubbish taken off Himalayan peaks    Embracing change: A journey towards inner peace    Saudi Arabia plans to boost oil production capacity to 12.3 million bpd by 2028    Mohammed Al-Turki steps down as CEO of Red Sea Film Foundation    Cristiano Ronaldo hails 2023-24 RSL season as 'one of the best' of his career    Germany's head coach blasts public broadcaster for 'racist' survey    Climate protester sticks poster over Monet painting at Paris museum    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Cash crunch make some in Modi's party anxious
Published in The Saudi Gazette on 31 - 12 - 2016

CASH shortages weeks after Indian Prime Minister Narendra Modi's decision to abolish large currency notes are making allies and members of his ruling party anxious, with some distancing themselves from the move ahead of a series of state elections.
Modi removed 500 and 1,000 rupee notes, worth around $7.50 and $15 respectively, on Nov. 8, billing it as an attempt to root out corruption, end terror financing and move the country into the age of digital payments.
He promised to replace all old bills with enough new currency notes by the end of this month. But his government has struggled to do that, leading to long lines at banks and a slump in economy activity. Nearly 90 percent of transactions in India used to be in cash.
Interviews with six lawmakers from Modi's Bharatiya Janata Party (BJP) and a senior leader of the party's ideological parent, the Rashtriya Swayamsevak Sangh (RSS), show his party cadre is starting to worry that the cash crunch could hurt their prospects in several states that go to the polls next year.
Some parliamentarians said that while they thought Modi's decision was good, its execution had been botched and they were faced with constituents who were increasingly upset.
"There is no doubt that it is difficult to convince voters that everything will be fine," said Santosh Gangwar, the junior finance minister who is leading the BJP campaign in western Uttar Pradesh.
"Every candidate who will be contesting polls is nervous because they feel people may not vote for the BJP ... There is tension and we cannot deny it," he said.
BJP spokesman G.V.L. Narasimha Rao said that despite temporary difficulties, the prime minister continued to enjoy overwhelming support.
"Party cadres are highly enthused about a big victory in upcoming elections, and if a few are apprehensive, they will realize the reality soon," Rao said.
Disquiet within the BJP underscores how Modi's unprecedented bet is turning into a test of popularity, and could go some way to determining his political future.
It has become a central issue in Uttar Pradesh, India's most populous state, where the outcome of elections early next year will be key for Modi's expected bid for a second term in 2019.
The senior RSS official said Modi was counseled days before the move to take time to prepare the ground for such a massive exercise, including setting up two new mints and expanding the banking network, and to roll it out in phases.
But Modi decided to press ahead, and he alone would bear responsibility for its failure or success, the official added.
Last week, more than three dozen BJP lawmakers, many of whom came from states that go to polls next year, met with Shah to demand that the government sends more cash to their constituencies, and quickly.
The MPs told Shah about severe cash shortages and hardship to local businesses and ordinary people, according to several lawmakers who attended the meeting.
They told the BJP president that they did not have the courage to hold election rallies at a time when people still had to stand in line, sometimes for hours, to get money. Some said they had not started door-to-door campaigning.
"The situation is grim, and we cannot ignore it," Jagdambika Pal, a BJP lawmaker from Uttar Pradesh who attended the meeting, said. "It is a challenge for every BJP lawmaker to manage the situation, but we cannot do anything if there is no money in the banks."


Clic here to read the story from its source.