Despite its discontinuation, currency with smaller denominations was still in circulation in one way or the other. It can be seen easily either as quoted prices of the commodities or in the way of remunerating the factors.
Sample this: Rizvi, a retired employee of in trust, had completed 44 years of his service, and now he is getting “₹49 and 12 anna” as his so-called pension. Mr. Rizvi, having a wrinkled but a satisfied face, is trying to convince him and praying to God for his better luck. Inspite of his name-sake pension he is happy that he had done the service in the name of God.
“Anna”, was a currency unit formerly used in India and Pakistan, equal to 1/16 rupee. It was subdivided into 4 paise or 12 pies (thus there were 64 paise in a rupee and 192 pies), which was then replaced by the 5-paise coin, it was also discontinued in 1994 and demonetised in 2011, even after its demonetization. “Anna” is currently used to count Rizvi’s salary.
In this inflationary situation, where everyone is trying to maximize their incomes, some persons alike him are not able to earn even the minimum wages determined as per the law. With such low wages, they are facing the problem in fulfilling their basic needs.
If the Government is aiming for a welfare state then it has to focus on the core areas of development, it should aim for the “Development” and not just for “Growth”. Undoubtedly, various policies had been framed for the betterment of poor and downtrodden section of the society but that needs a proper implementation and coordination. Government should focus on providing various assistance schemes for the generation of employment in the society, along with this, who are already employed should be remunerated with the amount that meets their qualification and the value added done by them for the organization. Those who are excluded from the work force on account of their inability to work should be provided with adequate social security schemes.
When the Government will focus on the modern concept of “Development” rather than the old and traditional “Growth” concept, then only every society will develop itself dumping its every evil.