Letter to PM from Dr. S. Jeevananda Reddy

Open Letter to the Prime Minister of India

From: Dr. S. Jeevananda Reddy
Hyderabad, 14th November 2020

Respected Prime Minister,


“With all Respect with no malice to anybody”

Sir, I regularly writes open letters to Respected Prime Minister [even during UPA regime and as well CMs of Telugu states] on different issues that concern public. Within the last ten days two important announcements were made in which one on demonetization, Sir, by you; and the other is Finance Minister’s announcement on incentives to the tune of Rs. 2, 65, 080 crores under Atmanirbhar Bharat Abhiyan [ABA] 3.0. Let me present my observations on these under four headings.

 Has really demonetization stopped the block money role in Indian economy?

On 8th November 2016, Sir, you announced demonetization of Rs. 500 & Rs. 1000 notes and issued new notes of Rs. 500 & Rs. 2000. On this I submitted my view points through an open letter addressed to Prime Minister of India on 14th November 2016 and the same appeared in “merinews” -- moneys-role-in-indian-economy/15920907.shtml

On its 4th anniversary, 8th November 2020, Sir, you shared the data to suggest that “demonetization has helped reduce black money & counterfeit currency”. This is not true from the very fact that one person from TN was exposed and caught with huge money of new currency -- media highlighted this incident. The black money has been playing its role as usual with Rs. 2000 notes which are rarely given to customers by banks wherein most of the time expressing no cash in Rs. 2000 notes. However, from the banks Rs. 2000 notes entered in to black market with more vigour. With merger of banks, it became easy: they are providing poor quality services to poor and middle classes; and however they are courteous to rich/ultra-rich.  It really has been serving the very purposes for which banks were merged!!!

Let me ask you Sir, the basic fact relating to real estate in urban areas: The registration value is far lower than the market value. During 2005 on my suggestion AP government reduced this gap between market value and registration value; and subsequent government failed to correct steadily raising this gap. That it-self shows Sir, you are not correct. This is also true with several government and non-governmental projects. Also, we have seen reports on counterfeit notes.

Sir, black money has been playing, before and after demonetization, crucial role in the elections. Where from that money has been coming? Is it from Banks or from new printing? Recent by-election in TS officials caught such money mostly in Rs. 2000 notes; wherein a case was filed on BJP candidate. Whether it is his money or party’s money or somebody else’s money, it is black money only. It is the case all over India. 

As proposed, how much black money brought back from illegally stashed in foreign banks?

Your government, Sir, failed to bring back the black money stashed in foreign banks as promised to the nation. However, with the recent raise cap on FDI’s suddenly all those accounts of India origin people disappeared and in its place westerners accounts appeared. Don’t you think, Sir, it is something fishy!!! At the same time huge sums entered India under FDIs, who never in the past invested that much in Indian companies.

Who benefitted with Rs. 29, 87, 641 crores stimulus announced till date?

Sir, from the start of Covid-19, your government disbursed Rs. 29, 87, 641 crores – are these parts of regular budget allocations or ad-hoc allocations? The basic question is: Who benefitted with such an amount under stimulus measures announced till date on different occasions?  Most of these occasions related to either to get benefits to BJP in the elections or help Adanis, Ambanis, and etc. big business houses of interest. It is a known fact that demonetization just before UP elections, BJP got benefitted and opposition severely affected – with change of currency.

*       PMGKP                                  Rs. 01,92,800 crore
*       ABA – 1                                  Rs. 11,02,650 crore
*       PMGKP                                  Rs. 00,82,911 crore
*       ABA – 2                                  Rs. 00,73,000 crore
*       ABA – 3                                  Rs. 02,65,080 crore
*       RBI measures                          Rs. 12,71,000 crore
*       Total                                       Rs. 29,87,641 crore

I never saw such figures [in lakhs of cores] in UPA time wherein budget was the primary financial allocations but with the present Finance Ministry ad-hoc announcements galore???

Sir, on 11th November 2020, Finance Minister [just before West Bengal Elections] under ABA 3.0 allocated Rs. 2, 65, 080 crores for disbursement, wherein Rs. 1,45,980 crores towards manufacturing – production linked incentives & Rs. 65, 000 towards support for Agriculture and fertilizer subsidies. During UPA government, they announced direct transfer of fertilizer subsidy to beneficiaries [this was introduced based on my suggestions] to contain black marketing. But, Sir, has your government implemented this scheme [in the last six years of your rule]? If it is so: Why farmers are now crying for fertilizer? & where the subsidy is going?  

India’s National Capital Delhi facing severe pollution which is acknowledged by even international agencies, particularly in winter with the favourable weather. Delhi pollution is amplified with pollution from the three neighbouring states [UP, Haryana & Punjab] through burning of stubbles in this time, with highest contribution coming from Punjab. This year the pollution has gone up by 240%, yet Sir, your government failed to contain this problem by providing necessary assistance to farmers. Though just before elections, Sir, your government is dumping thousands of crores [nobody knows where that money going] but at the same time, Sir, your government giving step-motherly treatment in eradicating stubble burning. Please do something by forgetting the fact that Punjab & Delhi are ruled by opposition parties!!!  

How much senior citizens & others who primarily live on FD interests, lost under BJP’s six year rule?

 Sir, with the lopsided actions of Finance Ministry senior citizens and poor and middle class who live on FDs interest lost more than 50% of the income after UPA; but this boosted business houses by hundreds of times. Here even tax sops were not reached this group but those benefited from the FM’s actions also got benefitted in this aspect also.

In fact your government failed to collect money from banks fraudsters but on the contrary some of them joined BJP to be on safe side. Some of them run away from India and taking shelter in other countries. Yesterday another person [BJP MP/formerly Minister - TDP MP] was stopped at Delhi Air Port by officials – with lookout orders; but court allowed going out. Another MP from AP has been hobnobbing with BJP leaders in Delhi and abusing his party leader day in and day out with centre providing security at huge cost. There are several such peoples some escaped with the tacit support from judiciary – In fact I brought to the notice of CJI/SC on few occasions on this but with zero result.

In Conclusion, Sir, BJP government under your leadership is trying to build business empires at the cost of 85% of lower-middle class living in India. There is a need to change this lop-sided policy to help all Indians uniformly.

It is also seen in US wherein Democrats spend trillions of dollars of public money on climate change [used it as de-facto global warming] while Republicans follow exactly opposite.  Several organizations in India also are beneficiaries of such funds and bring out non-stop poor quality reports misleading public and government on climate change.

Dr. S. Jeevananda Reddy
Formerly Chief Technical Advisor – WMO/UN & Expert – FAO/UN
Fellow, Andhra Pradesh Akademy of Sciences/Fellow, Telengana Academy of Sciences
Convenor, Forum for a Sustainable Environment

C.C.: Respected President of India
Dr. Manmohan Singh, Former PM &
Smt. Sonia Gandhi, Congress President

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Nov 17, 2020

Dr. S. Jeevananda Reddy

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