A fact-based take down on DeMo Cheerleadering?

A fact-based take down on DeMo Cheerleadering?

India is in the middle of a crisis wherein the media agencies have been primarily divided into two main groups – pro-incumbency and anti-incumbency. Of course, there are those channels that prefer sticking to the journalistic principles at the cost of being labelled anti-national. But, many journalists easily fall for the compelling incentive in being pro-government even if that means presenting alternative facts to suit vested interest and fulfill individual ambitions.

Almost everyday, we find journalists manipulating facts to suit their own agenda. This time, it was Rahul Kanwal who shared a story as follows:

As expected, this met with scathing and humorous replies from his followers.

In other words, a PMO PR passing off as this sell-out journos report. Where's the analysis? Are you supposed to take what is fed lying down? — die Weiße Rose (@sarduski) May 25, 2017

among many benefits of demonitization…

Cow gives more milk n poop 💩 more Gobar — Intekhab Alam (@Bhola4U) May 25, 2017

However, it was Mayank Jain who actually demolished the false story with a fact-based take down.

Take a look at his tweets.

He started on dramatic note.

Sorry, Rahul but this story is as far removed from facts as you seem to be from investigative journalism. https://t.co/OjTgJzltDv — Mayank (@AZenGuy) May 25, 2017

No mention of how much came back into the system?

Here’s why. You take Rs 5 lakh crore less-cash on face value without even mentioning that nobody has disclosed how much money came back. — Mayank Jain (@Mayank1029) May 25, 2017

Also, lesser cash in the economy isn’t directly a windfall. If anything, it just means that the poor are suffering without being counted. — Mayank Jain (@Mayank1029) May 25, 2017

Assuming less cash means it’s not being hoarded is the same fallacy as assuming black wealth existed under people’s mattresses. — Mayank Jain (@Mayank1029) May 25, 2017

Increase in tax based is not due to DeMo

The government claims that 10% of increase in tax base is due to demonetisation. While it could just be people filing returns earlier. — Mayank Jain (@Mayank1029) May 25, 2017

And those filing returns don’t always pay tax. 80% of filers actually evade taxes and don’t pay a single penny. Actual collection matters. — Mayank Jain (@Mayank1029) May 25, 2017

More pan cards post-DeMo are not a material gain

More pan cards are being issued post demonetisation according to the government but that’s not a proof of any material gain. — Mayank Jain (@Mayank1029) May 25, 2017

That could just be people trying to access their non kyc bank accounts and get the cash out now that it’s back in the system. — Mayank Jain (@Mayank1029) May 25, 2017

Digital transactions are falling off slowly

The point about digital transactions also doesn’t hold true as the growth has now started to come off. UPI fell for the first time in April. — Mayank Jain (@Mayank1029) May 25, 2017

And other digital transactions are slowly returning to pre demonetisation levels. — Mayank Jain (@Mayank1029) May 25, 2017

UPI transactions figures are fudged?

You/Govt claims that UPI is doing 140 crore a day but the actual numbers are closer to Rs 98 crore a day. Most of these are IMPS tranx. — Mayank Jain (@Mayank1029) May 25, 2017

Peer to peer transfers which are going through UPI now because it’s free and IMPs charges Rs 5 per transaction. — Mayank Jain (@Mayank1029) May 25, 2017

MCLR reduction is again a castle in the air as banks are not going to pass off any interest benefits when NPAs sit on their heads. — Mayank Jain (@Mayank1029) May 25, 2017

RBI has already tightened its policy stance from accommodative to neutral showing lack of rate cuts in the near future. — Mayank Jain (@Mayank1029) May 25, 2017

Cashless transactions figures at NHAI/Railway Booking don’t reflect success of DeMo

Cashless going up at NHAI from 3% to 15% doesn’t mean anything if there’s been no increase in collections. Stupid to credit DeMo for that. — Mayank Jain (@Mayank1029) May 25, 2017

Same goes for railway tickets, and whatever you might want to cite as an example. When there was no cash, people were BOUND to pay online. — Mayank Jain (@Mayank1029) May 25, 2017

DeMo resulted in only formalization of economy