Demonetisation: Second emergency witnessed by India
If you’d ask the government about what it found by digging a whole lot of mountains, you’d find no answer. Because the government has completely failed in its mission to bring back black money from abroad, or even check its existence within the country. A common man with basic street smartness knows the safe havens of black money are religious institutions, the offering boxes at big temples and secret treasuries of swamijis etc.
Apart from those places, black money is safe in politicians’ homes. But our PM Narendra Modi looked for this black money in the torn pockets of middle and lower middle class that lives on hand-to-mouth existence. He forced people to queue up before ATMs to put in, and withdraw their own hard earned money. He caused immense damage to the economy of India. The collapse of rupee continued without even slightest resistance. After all this, Reserve Bank of India has officially declared no black money was unearthed in demonetization. Does this not mean the government itself has now admitted that there is no black money in the country? What is the point in having inconveniencing people to such a large scale?
The government had given many reasons to defend demonetization. They said earlier that terrorism would be controlled greatly with this step and stone pelting incidents in Kashmir would also be checked. Most important reason was that counterfeit currency will choke to death, even as the value of rupee would increase in international market against the dollar. But then, when the reality struck, it was different from all this. None of the country’s problems were solved, instead they doubled up and turned more complex.
In the financial year that ended in March 2018, the number of counterfeit currency in denominations of Rs 50 and Rs 100 was the highest in the last three years. About 6,453 fake notes were found in 2015-16. This number jumped to 9,222 notes in 2016-17. And in 2017-18, this number became 23,447!
As for the Rs 100 currency, about 2,21,447 fake notes were found in 2015-16. After demonetization, that number shot up to 2,339,182 fake notes were found. This is a significant rise in the number.
Initially it was assumed that the new Rs 2000 currency introduced after demonetisation was of high quality that cannot be counterfeited because of intricate security features. However, according to the RBI annual report, only 638 fake notes of this denomination were found in 2016-17, and this number saw an increase in 17,969 (valued at Rs 36 cr) in 2017-18. Compared to last year, the amount of fake currency found was reduced by 31.4%. The main reason for this is understood to be reduced circulation of Rs 500 and Rs 1000 currencies in 2016. But after new Rs 500 was introduced, the fake currency racket surged again with 199 notes being found in 2016-17, and 9892 notes being found to be fake in 2017-18.
On the other hand, though banks got 100% cash back into the banking system, all that couldn’t be termed genuine. Through demonetization, all those people who had stacked black money, government gave them an opportunity to turn it into white. Every black money hoarder used this chance to turn his money into legal one. The media has often spoken about politicians being involved in this. Even Amit Shah’s name figures in this list. Either Income Tax department or any other investigative agency has not bothered to pick up the trail of money that came into the banking system to watch for fraudulent transactions. There are also allegations that note ban was known to a few corporate companies, organisations and political outfits beforehand and they had already made arrangements to escape the damage, and turn their money into white.
Now the government is speaking about digitalization of money transactions. The economic crisis faced owing to demonetization has put the RBI in a tricky situation. The printing of new notes has been a financial burden on RBI. The primary motive of unearthing black money wasn’t even achieved remotely. This has put the RBI in a tight spot. To cover up for this blunder, the government is speaking about digitalization of money.
This whole concept is comical to say the least since this nation lakhs of villages who don’t even have basic infrastructure in place, let alone achieving digitalization through technology. Small and medium traders have suffered massive loss. The mega malls and super bazaars are reaping the benefit of this. Right after currency ban, the decision of the government to introduce an act on prevention of cruelty to animals dealt a heavy blow to the people living in rural areas. Fake Gau Rakshaks used this to their total benefit. The cost of transporting cattle increased manifold. They were forced to take care of cattle that had ceased to give them returns, turned into an economic burden.
All these developments were the second emergency the country witnessed. The government needs to apologise for imposing such travails on the people of the nation.
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Iran Shocks World, Hits F-35
America's most advanced fighter jet, the F-35, was never hit in combat — not once, in its entire history. Countries spend over ₹900 crore to buy just one of these aircraft. The whole world believed this plane was untouchable. Then, on March 19, something happened over Iranian skies that shocked military experts across the globe.
Iran hit it. And nobody saw it coming.
America Was Too Confident — That Was the Problem
Before understanding how this happened, you need to understand what America believed going into this. The US had been bombing Iran since February 28. After roughly 20 days of heavy strikes, US Defence Secretary Pete Hegseth announced that Iran's air defences were completely destroyed — finished, flattened, gone.
US President Donald Trump even said proudly, "We can fly wherever we want, and no one is even firing at us."
Based on this confidence, America flew its prized F-35 deep into the heart of central Iran. That alone tells you how sure they were. You don't send your most expensive jet into enemy territory unless you believe there is zero danger.
But Iran, a country under heavy international sanctions, still had something left. And it used that something extremely well.
So How Did Iran Actually Hit a Stealth Jet?
Here is where it gets interesting for regular people to understand.
We have all heard the word "stealth" — it sounds like the plane is completely invisible. But India Today explained that stealth only means it is hard to detect by radar. Hard — not impossible. It does not mean the aircraft is totally invisible.
Think of it this way. Even if you cannot see someone in a dark room, you can still feel their body heat if they stand close enough. That is almost exactly what happened here.
The F-35's engines produce enormous heat. Iran's weapon likely used an infrared sensor — basically a heat-seeking system — to detect that heat, lock onto it, and follow the jet. No radar needed. The F-35's biggest advantage, its radar-invisibility, simply did not matter.
The weapon Iran likely used was the 358 missile — also called SA-67 — which is a loitering munition. Think of it as a slow, intelligent drone that flies around patiently waiting, scanning the sky for heat signals from aircraft engines. Once it finds one, it chases it down. Iran has used this exact weapon before against American MQ-9 Reaper drones — and since this war started, America has already lost more than 12 of those drones.
This Has Happened Before — In 1999
This is not the first time America's "invisible" aircraft was brought down by a smarter enemy.
In 1999, during NATO's bombing campaign over Serbia, the US flew its F-117 Nighthawk — which was then considered the world's most advanced stealth aircraft. Serbian forces shot it down using an old Soviet missile system from the 1960s. Not with new technology — with clever thinking. They briefly switched on their radar, caught the jet at the right moment when its stealth was less effective, and fired.
The lesson both then and now is the same — no aircraft is completely invincible. Smart tactics can beat expensive technology.
Why This Changes Everything in the Iran War
Here is the bigger picture that really matters.
America and Israel had told the world that Iran's air defences were basically dead. Based on that, they sent massive B-1 and B-2 bombers — aircraft that are normally used only when a country is 100% sure it controls the enemy's sky. That is a huge military risk to take.
But if an F-35 — the most advanced aircraft in the sky — can still be hit, then Iran's defences are clearly not dead. Some pieces are still very much alive and working.
This means the US and Israel may now be forced to completely rethink their war plan. Their jets may need to fly higher, use longer-range weapons, and spend far more time and money finding where Iran's remaining defence systems are hiding underground.
Around 15 countries use the F-35 today. Even India was offered this jet by Trump during PM Modi's White House visit — though India has not shown interest so far.
Geopolitical expert Adam summed it up simply — a heavily sanctioned country just tracked, chased, and hit the world's most expensive stealth jet. That is not a small thing.
Sometimes, one moment changes everything.
(Girish Linganna is an award-winning science communicator and a Defence, Aerospace & Geopolitical Analyst. He is the Managing Director of ADD Engineering Components India Pvt. Ltd., a subsidiary of ADD Engineering GmbH, Germany.)
Disclaimer: The views and opinions expressed in this article are solely those of the author. They do not necessarily reflect the views, policies, or position of the publication, its editors, or its management. The publication is not responsible for the accuracy of any information, statements, or opinions presented in this piece.
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