The key person in Narendra Modi government, who is expected to actively involve in the effective grounding of its ambitious denomination act, finance minister Arun Jaitly is reportedly not whole heartedly supporting this move. According to sources close to the government, he has been opposing this move and hesitantly supporting the same being a minister. Besides him, former RBI Governor Raghuram Rajan had also opposed this move, while he was in office.
According to sources it was BJP’s Rajya Sabha member and former union minister Dr Subramanian Swamy’s idea that catches Prime Minister’s attention. It may be recalled that while hailing the move, Swamy accused that the finance ministry failed to implement the decision properly.
Swamy, who has been aspiring to join union cabinet with finance ministry, has been facing severe obstructions from Jailty. In 2014 pols, when Narendra Modi and Nitin Gadkari proposed to filed him from New Delhi constituency that was strongly opposed by Jailty and Sushma Swaraj. Other leaders in the Parliamentary board remain silent.
Since then, Swamy not missing any opportunity to criticise finance ministry. Prime Minister nominated him to Rajya Sabha without leaking the news till last minute. While Narendra Modi is trying to mobilise public support towards his denomination move, finance minister is seen only making supportive statements out of `compulsions’.
It may be recalled that Jaitly has been cultivating personal rapport with almost all chief ministers and leaders of all political parties. Some BJP leaders even suspecting that the finance minister may be engineering some `selective leaks’ to the opposition so that to put government at irksome position.
Government sources are stating that the RBI has issued circulars twice in May and July months of this years, suggesting banks to reduce share of Rs 1000 and Rs 500 notes in ATMs,, replacing with Rs 100 and Rs 50 notes. RBI also offered to meet expenditure involves in this exercise. But, surprisingly not a single bank took RBI’s directive serious. Many wonder whether banks so negligent of RBI’s crucial directive without `political support’ ?