Note ban a double-edged sword for Karnataka BJP

BENGALURU: Prime Minister Narendra Modi’s decision to demonetize high-value currency notes could well prove a double-edged sword for the state unit of BJP—a boon for the common man but a liability for the party as funds for elections and related activities could be reduced to a trickle.   

The pros and cons of demonetization were discussed by top leaders at a recent meeting of the core committee with a majority of them reporting that they had received a positive feedback from districts and rural parts of the state with people supporting the ban on currency notes of Rs 1000 and Rs 500 denominations.

Those belonging to the middle class, the lower middle class and farming sector as well as the salaried classes were happy about the ban on notes of higher denominations, a senior core committee member told Deccan Chronicle.  

The leader said the core committee felt the party should capitalize on the opportunity and expand its base in rural parts of the state through an awareness drive. With Mr Modi and the party figuring in most conversations in rural areas, it would help the party to make forays into remote areas across the state, the leader added.

The leaders also discussed about adverse affects of demonetization ahead of Assembly elections in 2018 with many expressing apprehension that the state unit would certainly face a shortage of funds in view of the drive against black money.

State unit president B.S.Yeddyurappa and other senior core committee members opinioned that the party would not be able to mobilize funds from corporate and business houses following stringent action by the Union government. Therefore, the party should prepare now itself to face the elections with shortage of fund.

Sources said the state unit of BJP has already received an advisory from the central leaders of the party about adverse effects on the party following demonetization scheme and asked the party to be ready to face the worst case scenario.