Demonetisation ground report: Farmers in Maharashtra say black money is back in circulation

Balasaheb Ghadge, who works as a clerk in the village panchayat in the tribal belt of Andar Maval in Maharashtra and also runs a small kirana store, was a staunch supporter of demonetisation when it was announced. A year on, he is worried that poor farmers continue to suffer from the government’s move. “At the national level, the decision must have yielded results, but for us, life has been put in the reverse gear,” he said.

A follower of BR Ambedkar, Ghadge said he had read in one of Ambedkar’s books that demonetisation should be done after every decade. That’s perhaps why he was excited at the government’s decision last year.

Speaking to ET a few days after the PM announced demonetisation on November 8 last year, Ghadge had said: “Till now, the poor were crying. Now we are smiling and the rich are crying. Let them suffer. We just hope that farmers get some benefit.” Farmers, however, say that black money is back in circulation.

“During the local elections that followed, we saw candidates spending conspicuous money. Cash is back,” said Vijay Zende of village Zendewadi, without blaming the government. “He (PM) does not have his own family. So he must be thinking for the good of the nation.”

Farmers had to sell their produce at throwaway prices as consumers were forced to postpone their purchases after demonetisation.

“I had to borrow money for paying fees of my second year of law course as prices crashed for a long period after demonetisation,” said 25-year-old Swapnil Sawant from Vanpuri village in Purandar taluka.