The long-term impact of demonetisation is right here, Congress Party is nearly bankrupt

In November final 12 months, Congress mounted an assault over the Modi authorities, calling demonetisation a traditionally ‘disastrous decision’ which was a minimum of an invasion of the unorganised economic system of India. Cut to 2021, Congress’ assertions on demonetisation have begun making way more sense. Since 2014, Congress has been struggling to maintain itself organisationally afloat. The coffers of the ‘Grand Old Party’ have been drying up – since no corruption cash is being diverted to the treasuries of Akbar Road and 10 Janpath. With elections for 5 states approaching, the Congress’ desperation to have itself replenished with money has come out within the open.According to a report by the Times of India, the Congress social gathering has despatched an SOS to its state models throughout the nation, notably to states like Punjab, Rajasthan and Chhattisgarh – the place the social gathering runs majority governments. This, in a determined try to someway divert funds from such states to the social gathering’s coffers. At AICC conferences, social gathering funds – or the dearth of the identical have begun occupying way more significance.The report said that the conferences concentrate on organisational issues just like the nomination of state presidents, however now, discussions concerning the funds of the social gathering are additionally being held. The contributors are being briefed concerning the fund state of affairs and requested to take possession of the social gathering funds. A senior office-bearer mentioned that the present batch of polls is sure to check the social gathering’s administration power which has necessitated the calls to state functionaries for assist.The Congress, aside from asking its Punjab, Rajasthan and Chhattisgarh models for main monetary assist, has additionally referred to as upon elected representatives to contribute to the social gathering’s coffers, in order that the grand previous social gathering can put up a decent combat, on the very least, within the 5 states which go to polls in April-May this 12 months. TOI additionally added that aside from the elections, the social gathering’s official headquarters in Delhi is one other matter of economic concern. The headquarters has been beneath development for some time now.Between 2012 to 2019, the BJP has been obtained the best quantity of company donations amongst political events. While the saffron social gathering obtained over Rs. 2,319.49 crores, the Congress was in a position to shore up solely Rs. 376.02 crores, a determine which has nosedived since 2014. Most undoubtedly, demonetisation has performed an incredible position in stripping off the Congress of the truck-loads of money it amassed in the course of the UPA years. It is simply pure for them to due to this fact despise the choice of PM Modi to declare former Rs. 500 and Rs. 1000 notes as unlawful tender.The market picture of Congress has taken a extreme hit since 2014, and successive ballot routs have solely added to its woes. The personal and company gamers don’t put their cash in a non-performing asset, which Congress has of late changed into. With no hope of elevating capital from the markets, partly additionally due to Rahul Gandhi’s senseless tirade towards the company world, Congress has resorted to asking for meek donations from its personal cadre.