Currency demonetisation's ill effects are visible outside the banks and ATMs, but will this have a greater ramification in the upcoming UP elections is yet to be determined.
It is heyday for BSP's Mayawati and SP's Akhilesh Yadav, flexing their vocal chords against the BJP-led NDA government's decision. Akhilesh went to the extent of saying:
"I am very clear on this...black money should not be generated. Economic experts say the magnitude of the global economic crisis at times is not felt in India because of strong (parallel) economy of black money."
Providing a cue to the public in UP, Akhilesh said, "whichever government had troubled the poor, it was shown the door by the masses. This government has caused immense pain to commoners."
BSP supremo Mayawati could be heard talking on similar lines. Calling demonetisation an "economic emergency" , she said that the PM should stop blackmailing the people of the country emotionally. She said, "It is good that Modiji has left his family and village for the country but that does not mean that he would take immature decisions which are against the public interest and stick to them. He should stop emotionally blackmailing the people who are facing hardships due to the move."
Adding fuel to the fire, Mayawati further said that Modi realised the need to curb black money just before the UP elections, which was nothing but a move to divert the attention of the mass from the government's failures.
Every cloud has a silver lining
Although the political forces have routed their anger at the NDA government, the latter may still save some brownie points. Given their poll agenda before the Assembly elections in 2014, BJP may have already gathered the trust of the people with its demonetisation move.
Having said that, there is also a possibility that the party will lose the trading and business community, which formed a major part of its vote bank. The rural economy is also unpredictable at this moment, especially when the people in this particular section of the society is unlikely to understand the ramifications of the demonitisation. In fact, they are remotely related to the Black Money issue.
Only time will tell whether Modi Bhakts understand his moves and stay with him or choose a different path.