Jan Dhan accounts to get Rs 5,000-Rs 10,000

21th November 2016

21th November 2016

Freebies in Jan Dhan accounts: A masterstroke

Prime Minister Narendra Modi declared it in a public rally that so far Rs 5 lakh crore have been collected since the introduction of demonetization on November 8, 2016—that our mainstream newspapers chose to underplay this report is another matter.

NewsBred has reasons to believe that Rs 5,000 to Rs10,000 could be deposited in 25 crore Jan Dhan accounts in the country. It would cost the exchequer between Rs 58,000 to Rs 1.25 lakh crore.

The freebie could either be uniform or staggered given the balance in these Jan Dhan accounts. For example, the accounts with zero balance could receive a bigger free cash inflow than those with some balance in it.

This would be a politically astute move and could redress the grievance/frustration/anger of those citizens who have faced hardships and inconveinece in money transactions since the demonetization scheme was launched earlier this month.

The BJP is prepared to alienate even their traditional vote bank of traders and businessmen as long as they could secure the affection of poor and deprived. They are also prepared to drag down economy temporarily as “India Shining” is no guarantee to winning elections as former Prime Minister Atal Behari Vajpayee found out to his dismay on 2004.

The free cash deposits in Jan Dhan accounts are likely to happen as soon as the Demonetization window closes on December 31, 2016. The introduction of it early next year in January would surely take care of UP Assembly Polls.

As many as five state assembly polls are lined up in 2017 --- Uttar Pradesh, Punjab, Goa, Uttarakhand and Manipur. But for Uttar Pradesh, all other assembly polls are in the month of March. The one in UP would take place in May.

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