Points to remember before you participate in this discussion:
|Nandy said: (Mar 19, 2018)|
|Hello, all this is Nandy.
I am not in favour of this that demonetization is affecting commen people more than black money holders because it's very simple that those who have white money they can eailsy exchange they money however those who have black money holders first of all they will not sleep at all all the time they will keep in busy that how will they will make there money into white but common people they will face some difficulties like standing in long queue or to exchange there value but in the end they know this thing will really give them some benifits in long term not might be in short term that will find results but definatiley.
|Bavita Kumari said: (Mar 15, 2018)|
|Hello, this is Bavita kumari.
Yes, of course, demonetization is affecting common people more than the black holders. Behind the demonetization drive, the main aim was to minimize the corruption means minimize the no of black holders, but what is the reality we all can see. Before demonetization 14. 11 lakh core money was in the market and in which more than 13 lakh core money has been deposited. Then the question is: where is the black money? The answer is: all the black holders have some connection at the upper level and they deposited their money with the help of connectors and many people or black holders deposited their money through their servant and poor people. Hence they are no affected. They recovered their money back in form of new notes. The main people who are affected by this drive is:"common people". Even many people or old people died in queues. Many marriage functions was stopped, many patients died, means all the problem affected to common people. Hence demonetization is affecting the common people more than the black holders.
|Vandhana said: (Mar 13, 2018)|
|The demonetization was introduced to abolish the currency notes that are currently used in the economy. The demonetization has adverse effects on the common people rather than Black money holder's since the common people do not have enough backup facility to cope with the sudden changes. The commoners have to stand in queue for hours to get our old notes changed and at that particular time, only limited notes were available. So this caused a great chaos among the societies. Besides, the Black money is converted into various assets like jewellery, land etc. They will not suffer for their everyday needs like common people.
People have to stand in long queues to exchange their currency. The people who are in remote locations will have their savings in their home pose a major problem at that time since they can invest only 2L in the banks. So the common people will be more affected compared to the Black money holder's. The black money holders will find any other way to convert their Black money to White. The government must ensure to protect the common people before this kind of revolution is passed.
|Mansi Tyagi said: (Mar 8, 2018)|
|This is a big topic to be discussed like its name. Demonetization had done on 8 nov 2016. It was a sudden announcement by our Hon'ble PM after that all the 500, 1000 rupee notes had banned. Demonetization was a right step for the black money holder as most of the black money becomes white. But there is an advantage and some sort of disadvantage of everything so demonetization also caused many difficulties to the common people regarding cash withdrawals. But overall it was a white revolution.|
|Jose Priya said: (Mar 7, 2018)|
|Yes, demonetization affects the common village people more than the city people. It is better to saying demonetization is affected the middle-class people when compared with rich people.|
|Pvd said: (Mar 4, 2018)|
|Now we discuss on demonstration.
Government taken the good decision to stop the corruption. The middle class people are suffering more than compare to rich people.
The people are going to bank and standing in queue for whole day to exchange the money.
|Shubham Shrivas said: (Feb 20, 2018)|
|The decision which is taken by the Government was appreciatable because they know that if this thing went wrong, it will definitely create so many problems but still they showed courage.
Yes, we know that during demonization we faced so many problems like to stand in queue for hours, lack of cash availability, change issues. But friends after a long duration if someone tries to take the action against corruption at least we should support him.
And, I think the decision taken suddenly is part of the strategy, if they announced it before then there was a chance for exchange of black money. We know that there is a lot of money is laundered in terms of land, gold, in a Swiss bank. But we can't ignore this it is one positive step against corruption.
|Karan said: (Feb 19, 2018)|
|Hello friends, the topic for GD is How demonetization is affecting common people more than black money holders?
Demonetization has done on 8 nov 2017. There is very bad effect comes in common people. They all are face various problem at the time of demon. After stand in a very big line people only give 2000 in per day from ATM and lots of ATM don't had been money. And lots of poor people do not have a bank account so they face much more problematic for exchange money.
|Sufiyan said: (Feb 18, 2018)|
|Hello friends according to me, demonetization which had been done on 8th nov 2016. This demonetization has changed the whole economy. This was the great change in the Indian economy. I think the govt had taken right decision of demonetization but they had not made any plans. Many middle-class people came in trouble become of this demonetization. Many poor people in India don't know to sign his signature and govt had told them to fill the form and then exchange the notes. Those people which were having black people they had given corruption to the banker and exchange their notes. But the middle and poor people those who are having white money they came in trouble.|
|Rushabh Vaghela said: (Feb 17, 2018)|
|The main aim of demonetization is to kick out black money from black money holders. And it partially fulfilled due to sudden announcement of demonetization. But for that common people have to pay more by the suffering of a shortage of currency, rushing of people for money exchange. This all due to the improper planning of government to apply demonetization.
So as the conclusion demonetization take more on behalf to give less success to government.
|Pavithra said: (Feb 5, 2018)|
In my point of view, demonetization is announced to withdraw the black money from our country, sudden nature of announcement and long cash shortage for several weeks creates suffering to people.
People seek to exchange their banknotes had stand in lengthy queues and several people died in rush.
There is also a problem of protest, litigation and strikes against the government.
But in conclusion at the end of 2017, 99% of banned currency was deposited in banks.
|Prajwal Kanase said: (Feb 4, 2018)|
|First of all, we must know what is demonetization. What was announced by our Prime minister? What happened to our economy on 8th November, 2016 and months after that? So, demonetization means replacement of notes which are currently in working condition in economy. Our Finance Ministry announced that 500 & 1000 notes are banned and we have to replace them by 2000 & new 500 rs notes.
So, this is a big decision which requires lot of preparation. In Indian currency these notes' amount was more than 80% and in India most of the business is done in cash mode. It was disaster for the common people as they have to stand in long queue for hrs to replace old notes.
Now, I'm going to mention 2 main problems faced by people. 1. After standing in hrs, if I get 2000 rs notes and I went to buy stuff of my daily need, then I didn't getting any change. Because it was not available. 10, 20, 50, 100 rs notes were not available in that much amount. So, there is lack of preparation, if you're banning 500 and 1000 notes then you have to increase 10, 20, 50, 100 rs notes in the flow much before implementation of your plan.
2. Another problem is with ATMs, if government making new notes of 2000&500, then size of those notes must be of the same size of old notes. But, size was different and ATMs also needed replacements, which took work of over 50000 engineers for it and much more time and money. So, people at the same time were angry at the government and also appreciated government as they took step to remove the black money and corruption.
Government was saying this step is a milestone in cleansing of our economy, destroying of black money. But, real truth is black money was not hidden in cash only, it was laundered in many assets like lands, jewellery, foreign firms and it always gets turned in white some way. So, as government was expecting, there was not any type impact on black money, Neither big names, neither big black money.
RBI also stated that, approximately all old notes are got converted in new notes. This decision was dangerous for life of business which mainly depends on cash mainly small businesses. There growth and revenues decreased very severely.
So, this was a step without any preparation and harmed the middleclass people to much rather than black money holders. But, they endured the pain and appreciated government for this decision. This step was good, but taken without much thinking and planning. So, we can hope our respected government will take good decisions for good future of our country.
|Priti said: (Feb 1, 2018)|
Suddenly on 8th of Nov our honourable PM Narendra Modi declared that old 500 and 1000 notes will be banned from the very next day and can be used only in some Govt forums till a notified date and has to be exchanged from Banks with new notes. Most of the common man did not have enough liquid cash even to meet day to day needs for few days. People had to think before spending a penny because there was a limit of withdrawal of cash from Banks. Also, banks and ARMS were running short of new notes. Moreover, people had to stand in long queue for getting their old notes exchanged. Those middle-class families which had marriages faced a lot of problems as everyone was running short of cash and arranging cash was a problem then. What about the rich. The rich had a lot of employees working for them. They used their accounts to get there black money converted into white. They never faced cash difficulty as they had lots of employees to stand for them in a queue. Moreover, Govt gave a lot of time to exchange the old notes. This time was used to plan to convert black to white. Bank officials were bribed by the rich. Who were affected badly was we the common man?
|Siya said: (Jan 30, 2018)|
|Hello every one!
Before starting the discussion, let us understand the meaning of demonetization. Demonetization means current money is being scrapped and it is replaced with new currency or coins.
In India, demonetization move was initiated by our prime minister Mr Narendra Modi and was bought into force on November 8 2016.
As a famous proverb says every coin has two faces, even this has its own good and bad. The main aim of demonetization was to remove black money and to reduce the corruption.
To some extent black money flow was controlled. But more than advantage they are disadvantages. Many common people especially farmers and and ages old people, they have to stand in the long queue to exchange their old money with the new money. Some rural areas don't even have banks to exchange the money. People where not were not able to buy even the basic neccessity. Due to this even the gdp is also not increasing. Although this is a very good move but it should have been executed in a very planned manner so that common people are not facing the difficulty.
|Raj Khanna said: (Jan 28, 2018)|
|I am against demonetization. The idea was good but implementation was not up to mark. Think about the daily wages labour class people. What difficulty they had faced because people are unable to pay them and India is having a 65 % of its population in a rural area so who is going to teach them these bank rules. Thankyou.|
|Saikiran said: (Jan 21, 2018)|
|First of all, we have to thanks Modi Ji to banned 1000 and 500 Indian currency for stop the black money in the country once it has been done in 1946 and after that it was done by moraji desai to banned 10000 and 5000 Indian currency and now one of the biggest step by our honorable prime minster narrendra modi ji mostly people supported this decision and that is very appreciated and helpful to the government as I know that common people faced many problems during change notes and withdraw people should understand that if we stand in queue for railway tickets and movie tickets etc. Why we can not stand for stop black money in the country people must support to our government ever and it should be happening ever 5 to 10 years for grow economy of India and remove inflation.|
|Guru said: (Jan 20, 2018)|
|First of all, greeting to all of you. We are here to discussing the topic demonetization. From my point of view demonetization is good for us which is organised by our prime minister Narendra Modi in 2016 in November.
The main purpose of coming demonetization is to remove black money, corruption etc. But we are here to discussing the effect of this on poor and rich people. After coming to this approx 2 or 3 months people queuing in front of bank and ATMs for the purpose of the transaction, withdraw money. They serve problem for a long time but this type of problem is not happening with rich people they came anytime and take money or transaction at the right time they want. The currency of 200 0 and 500 note changed into new notes in which chip is inserted which cath the if your money is lost or stolen by any robbery. There are so many effects of this currency on poor people or rikshachalak. We know that Rikshachalak earn money in a day approx 300. They don't have a change of the large amount of 2000 notes when given by any customer on that time so this is the big problem on the time when demonetization came. But we can say that this organisation play a good vital role.
|Gulshan Kumar said: (Jan 20, 2018)|
|Demonetization has ruined this country resulting in a decrease in GDP of our country by 3%. All the results show that it has affected the economy of our country bvery badly. Even the data declared by reserve bank shows that the motto behind the demonetization has completely failed. If I would have to talk about the black money, the surprising fact is, that almost all the black money has been converted into white money. Thank you friends.|
|Saurabh Sharma said: (Jan 19, 2018)|
|I appreciate that everyone has his own point of view about Demonetization but coming to the topic Demonetization is affecting common people more than a black money holder answer is no. According to me, it is a great initiative taken by the Indian government to reduce the black money, however it also great impact over the common people to make queue over the ATMs and banks but for the great future, they cannot suffer for one-two months? its is like short time pain but long time gain for common people. Because Riche people becoming more richer and poor people becoming more poorer. Because rich people can't paying the tax. By which government increases the tax on daily uses product by this a great impact over the common people for buying the product. Coming to the topic By Demonetization play a key role to reduces the corruption.|
|Himanshu Jeet said: (Jan 14, 2018)|
According to my opinion, Demonetization was the good step for reduce the black money but it was affecting common people more than black money holders. While millions of people have been stressed over queuing up outside the bank and ATMs for their regular transaction. Common people struggle to get their own hard earned money withdraw and black money holders who funds the terriosst are stilk free and exchanging their money safely without any problm. Some people who run small business but unaware of digital banking are ones facing the biggest problem.
So, Demonetization is affecting common people more than black money holders.
|Manasi said: (Jan 5, 2018)|
Demonetization was a step taken by Honorable PM Narendra Modi on 8th of November 2016 for taken out black money from holders and also it related to the welfare of the people. This is really shocking news for all of us urgently we need to deposit all 500 and 1000 notes in banks there is a limited period for depositing money.
Who has black money are in danger they have black money in crores they find various ways to convert black money into white money.
Innocent people are not as much afraid of this decision because they pay tax time to time they face difficulties at the time of depositing money. They had to stand in a row for deposit money in the bank and it has taken lot of time. At the time of money taken out from the bank from ATMs, it takes also a lot of time.
All people have suffered innocent and black money holder also but innocent people were happy about the decision they thought all black money are out so there are an improvement in facilities provided to them.
This decision was short-term pain but it gave long-term impact on black money.
|Rishabh Gupta said: (Jan 1, 2018)|
|Demonetization was no doubt a very great initiative taken by our pm but it was not implemented the way it should have been. Its main aim was to curb the black money out of people's pocket. But most of the rich people were able to convert their illegal wealth into white money with the help of their links with the bank officials. Also, depositing some of their money in the bank a/c's of the middle class and lower class people and giving them their part after demonetization helped them further. It affected common people more as they had to stand in queue's to get their money exchanged. As soon as demonetization was implemented all the banks and Atm's went out of cash which made it even more difficult for the public.
So, I think it affected common people more than black money holders.
|Harshitha said: (Dec 30, 2017)|
|Demonetization is a way of defeat the corruption. But it does not executed well. Actually, most middle class and poor people affected the most. At the time of demonetization, people did not aware of that news, so many people do not have money in their hands. They need to dispose their old 500 and 1000 notes and move on to a new notes. Everyone stood for a long time before a ATM. Their plans have been destroyed. Many people who kept marriage had been definetely keep their money in bank. At that cruncy suitvation, what they will do, they need to perform the marriage, where he/she go for the money. Suppose next day is the marriage, he needs to stand in ATM queue? There is also restriction that only limited money can be taken in a day. At that time, what he will do? Common people are also important. So government must think of them and act. Thankyou.|
|Ragini said: (Dec 26, 2017)|
|At this time, after first at a first anniversary of demonetisation economy still coping with its after - effects, while consumers, farmers, small enterprises facing currency crunch, there was a surge in liquidity with banks, due to the invalid of Rs 500, Rs1000 notes being deposited in current, saving accounts this leads to inconvenience for small players rather than major players.|
|Syed Abu Talib Rizvi said: (Dec 19, 2017)|
|Yeah, It was the good step I appreciate it too. But think it from the other side like I am not against of any political parties or not in favor of anyone.
Actually on the 8 of November 2017, we were not celebrating the new era of the Indian currency but actually, we were celebrating in those Innocents those who were died in the queue.
There was no trouble for the rich ones but actually, the poor ones and middle ones get in the frustrating trouble. One of the BJP candidates had been caught with around 2 crores of 2000 new notes. And many more.
So according to me, it was the most foolish thing that government had done.
And according to the survey 99%plus notes has been back to the TBI. Then what was the use of demonetization?
And the last thing.
If you want to stop the black money then why you can't write the expiry date of the notes.
From this notes will in the flotation which will increase the economic condition and through this, no black money will also be there.
|Souvikkumarpal said: (Dec 16, 2017)|
|Of course, Demonetization is a good step taken by the Indian government to remove black money, terrorism and also a fake note of 500 and 1000. I would appreciate this step if it's execution was correct. Actually, it is a sudden step taken by the Modi government. People did not prepare for it. Thus they were suffered a lot. A long queue was made by people in front of ATM or a bank sector by leaving their important work for just a sake of a change of 100 bucks. Many people died due to stand in queue for a long time or by stroke etc.
A lot of people don't have any money at their hand for their household. They faced these kinds of the situation during whole November and December.
The main aim of this step is to remove black money but there still are a black money having in this society. Even a lot of fake note also arises of 2000, 200, 500 after publishing it.
During 2 months, this step impact on common people like a storm by which they suffered a lot. Black holders can make their black money into white by the unethical way because they have many sources who help them to do this. But what about common people.
According to me, Demonetization effected common people more than black holders and the government might take an more efficient way to execute this step properly.
|Renuka said: (Dec 15, 2017)|
|Demonetization causes problems to poor and middleclass people because rich people can transfering their money through politics so poor people are suffering by standing near banks and wasteting their time.|
|Uma Maheswarara Rao said: (Dec 13, 2017)|
Demonetization is a very important factor for reducing the black money of our country because of wt ever the money in the country is to be digitalization. It will definitely effect on the common people due to the if it's happening in without any proper plan. In the rural areas, there is a lack of facilitates in the changing their money. Finally concluded that demonetization is the effect on the common people if it doesn't happen in the proper plan. Thank you.
|Keerthipriya said: (Dec 7, 2017)|
|Demonetisation was a step taken with good intentions but planned badly. I have seen that 99% of money came back to the system as suggested by the RBI but nobody has stated that how much of it is white money so which is still to be known.
After demonetisation our tax base has increased considerably earlier only 4% people used to pay taxes now it has increased to many folds.
|Manisha said: (Dec 1, 2017)|
As demonetization is the biggest change happened in this year by honorable PM Narendra Modi. This step was actually taken to reducing the black money from the country. And most important to move the first step towards reducing corruption.
Although, its a very good thing decided by the PM but somewhere it was not properly planned. It hampers the common people more than the actual black money holders. Common people suffered from many problems in exchanging money. And as the middle and lower level people generally carry 500 or 1000 rupees note. Exchanging of these notes with 2000 not only affect those people but also government faced huge amount of lose in printing 2000 notes.
In other side, there also no result if found of it. Most of the ministers, corrupted leaders or businessman again saves themselves from the Money and by using some wrong ways. So for that time it has adverse affect that it enhances corruption.
|Samanthakamani said: (Nov 24, 2017)|
1) Demonetization is the act of stripping a cumency unit of status as legal tender sometimes,a country completely replaces the old currency with the currency.
2)The opposite of demonetization is remonetization.In which forum of payment is restored as legal tender.
3) There are multiple reasons why nations demonetization their local units of currenccy.
3.1)To combat inflation.
3.2)To combat corruption & crime.
4)To discourage a cash -dependency economy.
5)To facilitate trade.
6)The demonetization initiative by the government of india has taken the country by storm.
7)Every single person living in india has been affected by this major change in some way or the other.
8)That the repercussions of demonetization will continue to remian in the newsfor some time to come is evident.
9)However before familly an opinion on the governments decitson todemonetize currency in the form of 1000 & 500 bank notes.
|Raja said: (Nov 20, 2017)|
|In demonetization, middle-class people are more affected than the who kept black money inside.|
|Kiran said: (Nov 15, 2017)|
|Demonetization is a biggest change happened in this year. The idea for reducing the black money and terrorism is good and coming to the reality, it is not completely done. The recent analysis regarding demonetization issue, the world bank released the data which is almost 90% of the money is exchanges and the government has to invest a huge amount for printing Rs. 2000 notes which is more than the amount.
By this, common people suffers a lot in the ATM's and banks and many were died. They didn't have the enough change and money to buy the daily usage things. This issue affects a lot to the common people and small scale industries.
I conclude that, for a better change in our country we should accept such things for a bright future and development of the country.
|Ankit Singh said: (Nov 14, 2017)|
Demonetisation was a step taken with good intentions but planned badly. I have seen that 99% of money came back to the system as suggested by the RBI but nobody has stated that how much of it is white money so which is still to be known.
After demonetisation our tax base has increased considerably earlier only 4% people used to pay taxes now it has increased to many folds.
One more thing whenever a transaction takes place it leaves a trail behind it. So after demonetisation it is easy to look after those bank accounts which are suspicious and lots of transaction took place after 8th November 2016.
Common people were definitely affected many people lost their lives which could have been avoided.
It is a badly executed good move.
|Srilakshmi said: (Nov 13, 2017)|
|Demonetization idea was good to reduce black money, but only with idea govt should not declare that it will be reducing black money, with proper action and implement can possible. Our pm had come known this thought after announced demonetization, he hasn't fulfilled his promises so far in my view planning is very important before going to do big change in society, that was missed in demonetization.|
|Shubham Panchal said: (Nov 5, 2017)|
Demonetization took everyone by storm and created a big bubble in the country which gave us a hope for a better future without black money. Yes, the idea behind demonetization was good but the execution was very bad. The Indian government could have done a lot better then this.
The recent numbers given by the RBI shows that 99% of the currency was returned back to the government while the actual expected numbers were quite low around 85%. Around 100 lives were lost in the two months after demonetization was declared because of long queues of people waiting for hours to withdraw a few 100 bucks. I myself had to literally starve a few nights just because my hostel canteen was not accepting card or paytm. Most of the black money by a few hundred millionaires and instead of auditing them, rest of the people had to suffer.
The Indian government had months for planning and still was lost millions of rupees in just printing the new currency with a higher denomination. I still don't understand why the government introduced 2000rs notes instead of a smaller denomination. People are gonna are argue that demonetization happened in the 1970s and our country got through with it, but we are forgetting one big important fact that the population of country grew almost double in last 40 years courtesy of are grandfathers who had nothing better to do!
|Rinku Bhagat said: (Nov 1, 2017)|
|Demonetization was good to stop things like reduce Terrorism, Black Money and to remove fake notes from the market.
But failure of demonetization is that its not well planed that's why the corrupt people find some black hole in the system and they convert there black money in white.
Result is till end 99 % of demonetized notes reatun in the bank.
Now comes to common people because of they have not such connection to the banking system they standing in queue or front of ATM's to exchange or deposit his earned money which is they earned by his hard working.
They lost there jobs.
They don't have money to arrange his own daughter marriage even they don't have money to buy his daily uses things, because company's had not paying him at a time.
Around 100's of people died during Demonetization, they all are COMMON PEOPLE not a single millionaire or billionaire.
So these all situation shows how Demonetization effect the common people life more than black holder.
|Asmita said: (Oct 30, 2017)|
|Hello everyone, myself Asmita Mondal.
Undoubtedly demonetization is one of the biggest step taken by Indian government to bring up the black money, and there is a great impact of it in our social economy.
But this step is taken all of a sudden and without any proper planning how to handle the situation after banning the 500 and 1000 rs notes. For this reason the poor middle class family had suffered a lot. There were never ending que outside the bank's and ATM's during the whole November and December months, . The people stood up on the que leaving the works. As there were no sufficient cash in hand they couldn't buy household things. And as that was a wedding season, and there was a limitation of withdrawal of money the families had faced lots of problems. Many old people had died due to the heavy rush in ATM's and banks.
On the other hand, the black money holders were exchanging their money in many unethical ways. So according to my opinion the govt could be handle this situation in a more mature manner.
|Swaraj Relekar said: (Oct 28, 2017)|
|Demonetization is a good step our government, it leaked out the extra money which people had kept by earning through wrong paths, also the revenue in the municipal corporation and the income tax was paid in huge amounts during this demonetization period.|
|Shiv Roy said: (Oct 21, 2017)|
|Hello, friends, I'm going to discuss the topic '' How demonetization is affecting common people more than black money holders?''.
As we all know that everything has same advantages As well As disadvantages. Demonetization is also an example of this. Common peoples had badly affected by it than the black money holders. Coz, the powerful black money holders had found the way easily how to convert their black money into their harm worked money, by the hello of same corrupted peoples in the system. But common peoples had no way To get rid of this and they stand in a long queue of banks for their money which they got by working hard and honestly.
|Shan said: (Oct 15, 2017)|
Before starting a topic firstly I am discussing about demonetization.
(Demonetization means the current currency that we use for the transaction are not acceptable in the market. In place of old currency, government issues new currency. ).
On 8 November 2016 when pm announces demonetization then there are many hurdles are comes after that announcement mostly common people are more affected because the implementation of demonetization is not too good that it should be.
After the decision when I saw the long question in front of atm machine I thought the whole black money in the hand of poor people.
Our pm declares many announcements after demonetization even a promise are not fulfilled.
Our GDP goes down 7% to 6% that the big loss of any developing country.
The whole market goes down between this process.
The common pelope are unemployed causes of lack of money in the market.
|Prudhvi said: (Oct 15, 2017)|
|Hello everyone, of course demonetization doesn't show it affects on black money holders but it shows effect on people who or not corrupted only 3 to 5% black money holders were affected (most important thing most of the black money holders stored money in foreign currency, not in Indian currency) demonetization effects people like contractors, small-scale industries, some officials who stored their money in Indian currency. According to my conclusion demonetization affect non corrupted people but not black money holders.|
|Digambar Kumbhar said: (Oct 8, 2017)|
|Hi friends. Myself digambar.
I think demonization is a great impact on a middle-class family. Because by improving our life the rates will higher on imp needs. Like foods, clothes etc. By this increasing the cost this develops the problems in front of common people. Aand the black money holder's can easily exchange the black into white currency in banks. HHe does not face problems but common people can be faced problem in banks. By this situation, the loan is increasing day on our country.
|Singh said: (Oct 6, 2017)|
|Their is no doubt that demonetization is one of biggest step taken by the government to bring out the black money. It is clearly seen that the demonetization has a great impact on the economy. If we see the market its size has increased a lot after this revolutionary steps.
But the government was not fully prepared for this step. They are unable to analyse the situation.
But it impacts on common people is very much more as compared to the black money holders. If we talk about the small employers they are unable to buy or sell the products, due to which they have faced losses. Maximum number of peoples who are in the long question are common people not the black money holders. The daily life of common people is fully affected by demonetization. They have to leave all of their important works just for the sake of changing/ getting new notes. A number of people also died in those long question of ATM. People does not have the money even to buy the necessity goods. Their is the shortage of cash in almost every bank. Most of the ATM machines are also not working.
Most of the Black money Holders converted their old currency into the new one with many unethical ways. They are the ones who never stands on those long ques, on the other hand the common peoples were their in those question and faced the problems.
|Saswati said: (Oct 1, 2017)|
|Udoubtedly demonetization was helpful in eradicating black money to some extent but as it was announced all ofa sudden and was poorly planned the middle class people suffered a lot. There was a large que in atm's as people had no suuficient cash to buy their households even people even had to rush to banks to exchange the 500 and 1000 notes by taking leave from their offices. Many people died due to rush in atm's and as there was a restriction in withdrawl of money people faced a lot of difficulty.|
|Princess said: (Sep 26, 2017)|
|I think common people have suffered a lot after PM announced ban on 500 n 1000 RS notes. The decision was quick and people were not ready for it. Common people had no money for buying common things required for household. Also they had to take a leave from their office to stand in que of banks to exchange their notes. I think it was not planned properly they should have first make sufficient currency available.|
|Shiva said: (Sep 22, 2017)|
|The demonetization was a good idea.
But it not up to the mark, our honorable Prime Minister is came with this idea in midnight so it took bit success.
But the urban poor peoples are got struggle, and lot of machineries to be changed because for note is changed how the old machine will work (ATM & NOTE PRINTING MACHINE).
The govt got loss instead of getting a profit.
As well corruption is eliminated little bit, we can't say that it is eliminated fully it is not possible too.
If everyone supportive for this demonetization means our country will definitely go to somewhere else.
|Vibbin said: (Sep 20, 2017)|
|Our government made reasonable action of demonetisation to convert black money into white but common people are seriously affected by this movement than who doesn't pay the tax.|
|Raj said: (Sep 17, 2017)|
|I feel like demonetization had affected the middle-class people more than the black money holders. However, this will be useful and as our country is very large in its population decisions should be taken in a planned way which would affect the corrupted people.|
|Nisha said: (Sep 17, 2017)|
|We all have talked about the demonetization affect at the time of its implementation, but it been around 10 months from then.
It affects common people in terms of lower interest rates for the savings account as well as fixed deposits as most of their investments are in the form of fixed deposit.
Lower prices of land and buildings as the one didn't get the price what he or she wants for the assets sold.
Due to demonetization, most of the payments are through the digital medium, due to which people are facing security issues and are being the victim of online frauds.
|Sahira said: (Sep 12, 2017)|
The intentions of our government behind demonetization was pure and true. But their planning, implementation, and consequences were not up to The mark. This was the reason of the failure of government on the mission of eradicating corruption.
Demonetization affected both common people as well as black money holders up to some extent. But common people was the one who affected more than black money holders by demonetization.
First of all, the rate of rural people is more than Urban people in India, and there is no or little internet facility in rural areas. Also, there was no awareness about a digital system which caused a lot of problems for poor people.
Common people had to wait in long queues from morning to evening and then also there was no guarantee that if there was money on their Palm at last.
Whereas black money holders used their servants and laborers to change their black money into white by standing them in long queues in place of themselves. It may affect common people's time, health and their work.
|Rohith said: (Sep 9, 2017)|
|Demonetization is a bold move taken by our PM to eradicate black money in India. Though the motto was clear no one estimated the practical complications to be faced.
Both, common people and black money holders were affected by this move but the troubles faced by the common people was just a short term problem which is temporary for 1 or 2 months but which was a very difficult situation as most of the transactions made by common people was by means of money and a lot of them were unaware of the digital transactions particularly in villages.
People having black money were affected the most because the money they had been saving for years without paying tax was all in vain. So, even though demonetization has created a lot of problems to all sections of people it was a very good move to remove black money and in my opinion doing something is better than doing nothing.
|Gaurav said: (Sep 7, 2017)|
|According to me, demonetization seemed to be a great move at first but later because of its poor execution, it changed everyone's mind. People didn't had any cash in their hands, long atm lines, long lines at the bank for deposition of money. People who were not internet friendly were hit the most because they cannot get their transactions done online. Most people rotated currency their currency even after demonetization. Small markets like grocery market, transport, petrol, which are done with cash mostly were hit badly. There were only notes of 500 and 2000 available so there was a problem in doing small transactions.|
|Deepu said: (Sep 6, 2017)|
|Hi, friends I am Deepu.
As on my view, It's a good step to reduce corruption and black money. But it affects the middle class and poor people when compared to rich people. We all get to know about that whatever scheme like this came it's not for a long future use it's just for a temporary corruption free India because again rich people and politicians get that new currency and hold it as black money.
|Priya said: (Sep 4, 2017)|
|Demonetization was a very good step taken by our prime minister, but it adversely affected the common people. As we know that most of the Indians live in villages and don't know about the digital system while the black money holders are rich and corrupted so they led the same life as before and also got their money back, while the poor villagers were unable to get even a one time meal. It also affected the normal shopkeepers who have the cash as the only source of the transaction. Thus I would like to conclude that although it was a good step illiterate persons were affected most.|
|Brinda said: (Sep 1, 2017)|
|I would like to start with detailing about the consequence demonetization on common people. Common people had to stand in queues for hours and hours, for transactions, and unfortunately few people lost their life standing for currency exchange. This was not only the consequence but, also there was restriction on deposition and withdrawal of cash. This had created a miserable situation for most of the people, though it was known that, all this would not remain long. When common people were struggling, few of the black money holders had already exchanged all their black money with the new 2000 and 500 rupee currencies. So now, obviously it was the common people who were the sufferers.
Also RBI claims that the demonetization resulted in decrease in overall business which led to downfall in economic status. Out of all black money, only 1% came out and the rest has remained still undiscovered.
Now the point is, was demonetization, which led to soo much inconvenience, worth only for 1% of black money to come out!?
So I believe that, demonetization was not a effective solution to bring out the black money out. But "something is better than nothing", the efforts should always be made for betterment of the country by getting all the black money in Swiss bank and other sources out.
|Sayan said: (Aug 31, 2017)|
|First, we should understand what is black money. Black money is a money which is illegally obtained or not declared for tax purpose.
We all know that Govt of India has taken a step called demonetization to retrieve the black money. But the question arises is it an effective and practical way to address black money?My answer is no.
Demonetization has been proved to be ineffective as 99% of banned notes have returned to RBI. And it was predictable.
First of all, only 5 to 6% of the total black money is in the form of hard cash. So to target that minimum amount of black money Govt of India banned all 500 and 1000 rs. Note. These notes are the back bone of Indian economy.
We saw over 100 of common people died in the long queue waiting for deposit 500 and 1000 rs notes to the bank. But we did not see any business man waiting in the queue. Many people lost their jobs due to demonetization. Govt of India also announced every citizen would have 15 lakhs in their bank account but I don't know if anyone got 15 lakhs in their account or not. They also said terrorism would be decreased but unfortunately every day in the newspaper we saw that many Indian soldiers are being killed by the terrorist attack. Before new 2000 rs. Note coming to the market fake new 2000 rs note is found from terrorists on the Kashmir border. So it is enough to prove that demonetization has been failed.
Now the question arises why Govt of India takes a drastic step like demonetization, is it only for black money or there is also another reason other than retrieving the black money.
We all know that total 63 business men are not returning their loans (total amount of 7016 crores rs where Vijay Mallya 's personal loan amount is 1201 crores rs. ) to the SBI bank. Now SBI bank has lost hope to get return their loans and has given loan waiver. But farmers don't get loan waiver and are forced to commit suicide. After demonetization SBI bank has also announced to deduct your money if the transaction exceeds a certain number. The interest rate has decreased from 4% to 3. 5% if you don't have at least 1 crore rs in your savings account. But those who have 1 crore in their account, at least they can not be common people. You also have to keep a minimum amount of money otherwise you have to pay fine. It means that common people can not use their own money how they want to. In this way, SBI bank has earned 235 crores rs as fine from common people this year.
I don't know whether there is a link between not paying loans of big business men to the bank and to make up the deficiency of that money and to save the bank from bankrupt collecting all the money (500 rs and 1000 rs note) in the name of demonetization and putting burdens (in the name of fines) on common people from the bank. Govt of India also said that they have a profit of rs 16000 crores but the interesting fact is they have to spend rs 21000 crores to make new currency. So does it make any sense?
If Govt of India really wants to curb black money then they should address the black market from where black money is coming. Otherwise, there is no real solution of corruption.
|Kanishka said: (Aug 26, 2017)|
|Demonetization is considered as PM Modi's surgical strike towards corruption and black money. It has helped in reducing the corruption to some extent but has not become so effective as it promised to be at the time of its origin. The people who supported this act initially started cursing it later on due to the inconvenience caused by it. The government has not given a clear idea or the result of demonetization in reducing the corruption, but we have a clear picture of how it affected common people in their day to day life, how people suffered from it and also government should have come up with the proper planning of handling the outrage situation before announcing its decision of demonetization.|
|Brighti said: (Aug 26, 2017)|
|Demonetization is an assault on corrupt people. Corruption is the biggest obstacle for the eradication of poverty in the nation.
According to my point of view, the approach which was taken by the government on 8th Nov called demonetization is one of the best methods to hold the command on black money holder.
Yes, I accept that due to this step common people were affected as much as black money holder. But this is the fact that common people are in trouble for one or two months but on the other side, black money holder will suffer a long time.
According to RBI information, they have been destroyed approx 12% black money.
As we all, know that no one gets the best result without facing any difficulties.
|Mishra Sh said: (Aug 25, 2017)|
|Demonetization was a very bold and gutsy move that has been taken by our prime minister Narendra Modi on November 2016. That was done in a very planned manner so that the common people do not have to get very much affected because before this decision he has started a campaign to give every Indian their own bank account. The common people who work on the daily basis was much affected by this decision because of the lack of the cash in the market. In our India common people are very afraid of the incidents like looting and theft so they don't keep cash in their home for those fucking looters.
The people those have had black money in the form of 500 and 1000 notes currency were most affected by this decision because neither they could deposit the money nor the could reveal that.
After this decision the stop pelting incidents, Naxals attacks in our nation were at its lower stage. After this, around 657 Naxal groups have surrendered because of the lack of money. Around two lac crores, black money has been revealed.
|Manav said: (Aug 25, 2017)|
|Whether Demonisation decisions good or bad we haven't any logical idea but one thing is sure that in the demonization our poor and middle-class people were in trouble actually they hadn't any black money or any corrupted money. Second thing is that those people who have black money only 35-40 percent had exposed rest all is safe that is not fair to us!|
|Pratiksha Datir said: (Aug 25, 2017)|
|Demonetization is affecting common people more than black money holders. Because of demonetization corruption will get reduced but not 100%. And the people who are responsible for corruption live their life as usual, but common people faced lots of problems like they have to be standing in a queue in front of the bank for withdrawing money and deposit as well. And because of demonetization, new notes are not available in the bank and common people are not able to do their work.|
|Akashdeep said: (Aug 25, 2017)|
|I would like to add few points here. Though our honorable PM announced that the motive behind demonetization was to tackle corruption and black money. Actually, after Vijay Mallya stole 9000 crores of rupees most of the Indian banks went bankrupt. So by demonetization, the main motive was to regain the financial stability of the banks. Regarding common people, I would like to say that around 85% of population thrives on cash. Only 4% owns a credit/debit card and around 3% have a net banking account. So small scale industries, book publication firms, wholesalers, and mainly farmers are struggling a lot in case of any emergency. Regarding black Money the process would have been more effective if some provision would have been made to procure the Swiss bank accounts. Rest amount of black money which is in India only 6% are in the form of cash. So the amount govt spent in making new currency notes is far higher than that 6% black money which would return back to the government So overall Loss in revenue is obvious. And from the prospect of curbing of fake currency, I would like to add a point that to make a 100 rupee note only 3 rupees is required and to make a fake 100 note even less. So you can see to make a fake of 3million rupees only 30000 is required. Definitely, only a small amount of loss will be procured by the fake currency makers.|
|Anand said: (Aug 24, 2017)|
The decision of Demonetization was taken by our Honorable PM on November 8th After this all currency notes of 500 and 1000(earlier) were declared as illegal many facts has been given by ministers and RBI officers that this will be helpful for our economy in longer way let's discussing all pros and cons one by one
1) Stone pelters who were pelting stones on our soldiers were stop after this decision that clearly indicates that after this decision fake cross border fake currency exchange stopped.
2) people of our country and bank officers did hard work for the completion of the reason behind this decision.
3) cross border terrorism reduces.
Now, as India is a very large country not only by its area but also due to its population so it is difficult to implement any decisions
People in the villages suffered a lot due to this decision might be government could implement this in a more planned way.
This decision affects our our economy for short time period but in a longer way it will be truthful.
|Sunny said: (Aug 24, 2017)|
|In my opinion, Demonetization is a great initiative taken by the government of India and it definitely reduced corruption at certain extent but for this, each and every citizen of India has to put their step forward.
But in another way, due to demonetization there may be a reduction in black money but after demonetization again there are corruptions, black money is going on. I think first of all government has to eradicate the way of growing corruption by giving more initiatives to have a proper income tax evaluation.
|Sanu Bhartiya said: (Aug 23, 2017)|
|In my opinion, Demonetization is a bold move taken by the government of India and it definitely reduced corruption at certain extent but for this, each and every citizen of India had to contribute and in another way. This topic is India will reborn with demonetization it helps reduced corruption and black money will be reduced and middle and low-class people really affected with this. Demonetization is affecting to the common people but they will get benefits from it in the future.
|Soundarya said: (Aug 21, 2017)|
|Hi, guys, this is Soundarya.
According to me, the announcement for paying tax have been informed to people through media six months ago. But people did not pay more attention. This ban of 500 and 1000 rupee notes announcement made most of them to pay their taxes and convert their black money into whites.
|Angel said: (Aug 21, 2017)|
According to me, Demonetization is very good designation by the government. But government has fail to implement it. It only affects the small people or we can say the common men the big & powerful people are leaving their life as it is but common men has to go bank & ATM regularly get through lot of suffer even some people heavily lingered or died in Que. On another side powerful people are partying and posting selfie with bunch of new notes when peoples don't have a new single note. On another side it create awareness in people so many people who are not paying Tex or not using bank because of lake knowledge are used to with bank.
|Riddhi said: (Aug 18, 2017)|
|Demonetization is a bold move taken by the government of India and it definitely reduced corruption at certain extent but for this, each and every citizen of India had to contribute and in another way.
Demonetization affected adversely on common people because people had to stand in front of a bank for exchanging or deposit their money in the harsh sunshine and many people don't have a bank account so this thing also cause so much unconvinced to common people. Everything has its own advantages and disadvantages so along with advantages of Demonetization, there are few of disadvantages like black money holders had created a new black market for saving their money. Recently news came into the picture that this time there is a huge increment in income tax returns so it's showing that government has got a success by Demonetization.
|Tahseen Khan said: (Aug 13, 2017)|
|Demonetization is that type of words today that everyone knows very well. According to me its is a good decision but can get the output that the government Assumed. This causes increase the corruption and problem of middle-class people and poor people but can't affect the life of middle-class family. A lot of people standing on the outside of ATMs for money, they were standing in a long queue but can't get a money because the appropriate amount of money is not available in the ATMs but no one saw on that line any political leaders, rich people, celebrities, then how is this possible. Is there no need of money, no friends, they are rich people, they directly connected to bank manager to give him new notes on the radio of 80:20 but can't face any problem. It leads to corruption. Govt try to earn the black money from the black money holders but can't get. Most of the black money holders they pack the notes in a bag and they throw into the river, forest, etc but can't give to the government. At last but not least I say that govt take the decision good but can't fulfil all his needs that require.|
|Arif said: (Aug 10, 2017)|
|According to me, demonetization doesn't affect any black money holder Instead it affecting common people because these many notes are banned in place of these new notes are not created. Still, we are facing the same problem, in many Banks and ATM there is a lack of notes. That is why it only effect common people.|
|Rajesh said: (Aug 9, 2017)|
|My opinion about this topic is India will reborn with demonetization it helps reduced corruption and black money will be reduced and middle and low-class people really affected with this.|
|Krishna Kumar said: (Aug 4, 2017)|
Demonetization is affecting to the common people but they will get benefit from it in the future. Someone said that instead of immediate disclosed this information they should inform the people for fixing the date for demonetization if they do so, again it helps to black money holders before demonetizing they had exchanged the money from 500 and 1000 to 100 and 50 notes. Modi had taken a good decision of immediate action on demonetization. Of course, it had affected on common people not only in this matter. There are several matters are there which can affect to common people. If anyone made the survey immediate decision on demonetization they will get 80% to 90% good result because our country people know what is right and wrong. Most of the people knew that demonetization will help to the middle class and low class and it should affect on middle and lower class along with these things, they knew they will get benefits from this in future.
|Mukesh said: (Aug 4, 2017)|
|According to me, demonetization is changed the corruption era. It is affecting common people more than black money holders but good thing is that it affects on corruption. We saw that in demonetization the goverment collect lots of money from black money holders also its increase GDP of our country. But common people faced lots of trouble in three months. They are standing in a queue for a day for 2000 or 4000 and ATM was empty. Also, bank employees help celebrities and politicians for withdrawing money from the backside. My view is demonetization is a good step but its affecting common people very much.|
|Shits said: (Jul 31, 2017)|
In my point of view, demonetization made so many useful changes in India. It is a good thing for India.
|Sireesha said: (Jul 31, 2017)|
|In my point of view, demonetization is a good step taken by the government it is definitely helpful to India to become developed country from developing the country and it is very helpful to decrease corruption in India. But for the demonetization common people's face lot of problems than the black money holders because for withdrawing money they wait a lot of time at ATM centres. It will apply for every five years it will definitely useful to decreasing corruption.|
|Shyam Dhakad Svceindore said: (Jul 29, 2017)|
|Demonetisation was announced by Narendra Modi on 8 Nov 2016. It is really good one. It reduces the money as well as duplicate currency. The Number of duplicate currency is used in India that also minimised.
I strongly support the decision taken by the Indian government, of course, I agree there were some problems faced by used during those three months what finally it's good for the country.
One bad thing was that is people exchange their money without standing in a queue by their influence but common people suffered a lot of this issue.
|Namdev said: (Jul 26, 2017)|
In My point of view, demonetization is affecting common people more than black money holders. Common people are stands in a queue in bank I day of summer. Heard some people are dying by stand in a queue. I think there is no reason behind demonstrations because there is a loss of the nation. Now days there GDP has been less than previous and black money holder exchange his money by other hand give tax and change money no black money are stored in government stock and some money are stored in government stock that is not distributed with people.
|Ankita said: (Jul 22, 2017)|
|No, I think that demonetization is for the betterment of our nation because then only black money holders will get arrested or strict actions would be taken against them. Our country will then only move forward. This is done to curb currouption which is faced in this era. Many people are suffering through this and many people are enjoying the benefits due to currouption so the government has taken a good step as starting up demonetisation.|
|Harsh said: (Jul 21, 2017)|
|Demonetization is affecting common people as they have to stand in long queues to get their money exchanged cause them losses in form of both health and wealth as if a person has to stand in there so he cannot go to his jobs resulting in loss of his salary and must have heard about deaths of poor old peoples because of standing in the queues, this death toll will be larger if our prime minister would have announced this demonetization in summer season.
Actually, demonetization is causing problems to common people for a short time but it would definitely provide benefits in a long run.
|Kavya said: (Jul 17, 2017)|
|Good afternoon everyone.
At the starting stage, it is true. In my opinion, it was a gd plan taken by our respectable pm Modi JI. Up to some extent, I will accept this. By demonetisation poor people suffered a lot. Central didn't intimate at-least once. Without information, at once they changed the money. By this black money holders, they didn't suffer at all. At that time people visited so many ATMs but there is no money at all. If the government is implementing any thing, first of all they have to intimate once to a people. At that time so many common people marriages were cancelled due to demonetisation. But the political people nd some other great people marriages hasn't been cancelled. For that people one right nd for common people another right. This is the worst position in India black money holders in another way they made their money into white. Common people stood in the line for days but the celebrities and politicians at least they didn't stand at once for a money. Mainly due to demonetization shopkeepers and small vendors, farmers they suffered a lot. In Tamil Nadu one politician he distributed his money for a people for each candidate he gave 3 to 4 lakhs due to black and in some other states, they even threw the money bags in the garbage and some people burnt the money also. Corruption is more in our country. Our country placed 1 st position in corruption. For small signature from the officials they corrupt the money first later they do the work that to they corrupt the money from poor people only.
After demonitising, In one week only again they make 2000 rupees as a fake note. See how the Indians are. They are using their intelligence in unwanted things. They are not using for wanted things.
|Akanksha Parmar said: (Jul 15, 2017)|
Demonetisation has been one of the most transformative event of 2016. While it is true that if we want to challenge corruption root and branch we can't merely trim the branches periodically to appease the public opinion. We have to attack the curse at roots, it is also true that ill planned move of such a major change will affect the innocent citizens.
Yes, the 90% honest Indians were ready to accept passing discomfort as collateral price again corruption but how is fair that despite such difficulties only a little amount of black money was unearthed.
|Aishwaryav said: (Jul 14, 2017)|
|According to my point of view, It was a good plan but when we consider the economy as a whole, our economy has various income groups like upper class, middle class, lower class and it didn't work out for middle and lower income groups. People were struggling to get the new notes and even banks ran out of notes and caused a lot of inconvenience to the people. Black money holders got affected a little bit but the plan was poorly implemented. No necessary arrangements were made before and the plan was implemented overnight abruptly and purely this has happened due to inefficient planning. The government should make necessary arrangements before they take big decisions like this. Black money was exposed but its just a tiny part. It didn't make any big difference for them. Few 500 and 1000 rupee notes were just dumped into rivers and drains and behind this scenario, crores of rupees which are converted into new notes went from banks secretly and the general public, we, just got 4000 rupees a week! Next time when the government plans something big, all these consequences should be predicted!|
|Owais said: (Jul 7, 2017)|
|For middle class and normal people, I would say it is No, It's not like just changing clothes but somehow corruption can be reduced. Whenever our respectable prime minister Sri Narendra Modi has announced that the central government is banning the 500 and 1000 rupee notes all Indian people were shocked and they were rushed to ATM centres but ATM's are already closed on that evening. People were struggled to wait in a long queue at ATM centres and at Banks by leaving their daily work but we didn't see any VIPs and big business magnates in a queue. So banning of 500 and 1000 rupee notes were most affected to the middle class and poor people only.
The Government wants to see "Cashless economy" but the public have seen "Cashless ATMs" and instead of introducing small denomination notes government has introduced big note such as new 2000 rupee note. This makes some VIPs, to do more corruption such that instead of carrying more number of smaller denomination notes they are hiding less number of big notes. For those people, it is just like changing clothes.
|Vatsal Joshi said: (Jul 5, 2017)|
|Demonization is a great move by Prime Minister Narendra Modi but do it really required at this point of when India is in growing Phase if we see that majority of population in India belongs to middle class and BPLl familes so taking such a step of demonization is affecting India growth rate in an adverse way, people faced lot of problems because of this and the effect is still there it's long lasting so gov move to curb black money by imposing pressure on common public because of some rich people who keep their money abroad bank so this will not remove corruption at all gov need to have some strong rules and regulations for this.|
|Spartan said: (Jul 5, 2017)|
|Hello, friends, I want to address the issue that supposes a poor person pays his taxes and keeps aside some money as savings for purpose of his children's education or marriage he has to deposit it again and will have to pay taxes on it again.
Moreover, the black money which is circulated in form of real estate and gold will have very less impact on them and most of the black money is stored outside the country.
The move was a good decision but not properly thought of and executed.
|Vishal Laxmeshwar said: (Jun 22, 2017)|
Demonetisation, the great initiative from our pm. However, it brings certain changes in the society such like it pulls the people to use cashless transaction, reduce the corruption to a certain extent even helped to increase the Indian economic growth but at the same time few percentage of Indian population suffered a lot due to sudden announcement of the change of currency. We all know that only 75% of Indians are literate and rest of the population faced a large extent of problems in the initial stage. But however to bring or to make any changes which is good for the country then each one has to take or to face unconditional situation or difficulties. But in long run, this demonetization will surely make a huge change in the life of common people.
|Prateek said: (Jun 22, 2017)|
|According to me, demonetization is related to all the citizens of the country and every single citizen is touched by it. Everyone in the country is affected by it but common people suffered the most because they don't have resources to handle it like rich people. Common people stood in line for hours. In some cases, we also saw that after standing the whole day, they did get the cash. All the routine works of the common people were affected because they didn't have the money in their bank accounts in order to take it back from the bank All these problems did not happen with the rich people.
But, I am feeling proud to say that despite all these problems, the common people suffered, they stood with their prime minister decision. These common people knew that this decision was taken in the favour of the country and despite all these problems they suffered, they fully supported the decision made by our prime minister.
|Anamika Das said: (Jun 21, 2017)|
So the discussion is all about how demonetiZation is affecting the poor more than black money holders.
According to my view, It is very unfortunate that whenever any step is taken towards the well being of people it reaches to less percentage of poor. However, at the same time whenever an initiative is taken for any change, it affects the poor more. Same happened with demonetisation. Of cource, it has affected the money holders but the ones who are more affected are the poor. Businesses of small shopkeepers were affected as their business wasn't going on flow. Lives of poor were affected a lot and their lives weren't going on flow. Many who didn't have bank accounts they were left with no choice but depend on others for getting their money deposited. Rich ones were able to get their jobs done through online cash transactions. Fewer poor were able to do so most of them were not acquainted with that knowledge. However, when a change is needed few have to suffer. Thank you.
|Shubham Tayal said: (Jun 16, 2017)|
|Good Morning everybody.
I got the opportunity to discuss my views about a very interesting topic "How demonetization is affecting common people more than black money holders?".
It also has been done in 1946 and after that, I was done in 1978 by Morarji Desai to banned 10000 and 5000 Indian currency notes and now one of the biggest step taken by PM Narendra Modiji to banned 1000 and 500 INR. So it's a normal process and there is nothing to become shocked. Demonetisation is not new in India. On 8 th November 2016 a revolutionary step has been raised in order to make corruption uprooted from the country by our honourable Prime Minister Narendra Modi. Demonetisation releases a adverse affect on the common people more than the black money holders. We all know that this decision is quite right but it is not taken with the proper plannings. Common people faced a lot of difficulties due to this. We have seen various long queues in front of the banks. Businessman also suffers from this They also faced crisis.
According to me, As every coin has two sides like wise peoples also have different perspectives. If you are looking towards Indian economy if we compared our GDP with 2015 then you will come to know that there is growth of 0.6 % previously it was 7.0% now it is 7.6%.
Upper class consists of most of the people with black money which includes politicians, businessmen. As our Ex-RBI Governor said 'People Will Find Ways To Divide Their Hoard', that is, people will find new ways to convert their black money into white.
Many people died during this process and I feel instead of demonetization, the government of India should've ensured strict taxation laws which would've saved the people of India from such chaos.
|Naruto Uzumaki said: (Jun 15, 2017)|
|Demonetization is a very bold step taken by the government in order to curb corruption and bring black money to light. But the demonetization affected common people more than black money holders. The upper class of the country which also include politicans and businessman whom we think holding the black money were not actually holding the black money as liquid cash but in other forms such as digital form, gold, shares, properties etc. So the demonetization did not impact majority of the black money holders but it did collect black money, not to the satisfactory level. The common people like low, middle-class people were greatly affected as they have to stand long hours before ATM for cash and there is also limit for the transactions which would affect their small scale businesses and their living. Demonization is a very good step taken by the government but poorly implemented whose consequences are faced by common people.|
|Sarbani said: (Jun 12, 2017)|
|Demonetization affected a lot to the common people. The step was taken for the black money holders and the maximum black money holder belongs from political background well-named businessmen or from any other big organisations. But how many of them was standing in the queue to exchange old currencies? They had turned their black money into white money over the night without facing any problems. And most important thing 90% black money are not in the cash form. The black money is in the form of any assets or in the Swiss account. Remaining 10% black money has turned into white money without facing any problem because they have the power to go through the unethical way.
But it was not possible to common people to exchange their currencies over the night. They had to stand in the long queue. Sometimes they had to return home after standing for so long time widout exchanging notes due to insufficient fund. The process was eligible for senior citizens also and a 60/70 years old man had to wait in the queue for hours of time. In ATM, there wasn't sufficient amount of cash.
Small vendors were unable to pay or collect money due to currency exchange policy, marriage ceremonies of common people was stopped due to this problems. But the marriage of businessmen's daughter (Nitin Gadkari's Daughter) hasn't cancelled.
Thus demonetization affected a lot to the common people.
|Priyanka Jha said: (Jun 11, 2017)|
|Yes, indeed it was a bold and impressive decision by our PM. Initially it showed some hope to get a country which we dream to live in based on honesty and Loyalty. But soon it was reflecting no such positive outcomes. The main aim was to remove the black money prevailing in society on large scale but it could not do so. The high class people have managed their black money in bank through some middle man who used to deposit their amount in bank rather they also distributed their amount to different members of society with some benefits to they. They have easily converted their money in white money. So, basically our government could not succeed in this stage. As a result they started digitallasing, here poor people who have poor connectivity could not utilise this. They are still the sufferer. But still hope is there to improve in this field.|
|Sarbani said: (Jun 11, 2017)|
|Yes, I must say demonetization affecting common people more than black money holders because when it was declared that we have to exchange our old currency the common people have faced a lot of problems. They had to wait for long in the queue to exchange money. That time there was limited fund and for this many people has to come back without exchanging the notes. The employee who were in public sector or private sector they had to take leave to stand in the queue to exchange notes. The most important point, many senior citizens became exhausted while standing in the queue. These are all the middle-class or lower middle-class people who are not the black money holders.
The people who hold black money belongs from the political field or other major organisations. But they didn't have to stand in the queue to exchange notes. And the people who hold black money 10% are in the cash form and rest 90% are in the form of any assets or in Swiss account. They couldn't find that remaining 90% black money.
From this, it's clear that the demonetization affected common people more than black money holder.
|Ankita said: (May 31, 2017)|
|From my point of view, demonetization is a good decision, but its result is not that much good because as we see that most of the common people died and most of them commit suicide so its impact was very bad and the black money holders are changing their money from different ways and all the commoners are suffering.|
|Nam said: (May 30, 2017)|
Demonetization decision is correct but its implementation is wrong because rich people change it currency by giving percent tax and they also change currency and common people are going to the bank and standing in a queue for getting cash. Black money holders are changing his currency without paying tax.
|Ritesh Kumar said: (May 22, 2017)|
|Demonetization i.e the ban of existing Rs 500 and 1000 notes and issuing new currency notes of Rs 2000 and 500 was a very bold step taken by the Indian government. The main aim was to check corruption, point out black money holders, to cut the supply of money to terrorists, encourage people for digital payments etc.
But, according to figures released by RBI only about Rs 75,000 crore in demonetised Rs 500 and Rs 1,000 notes not returning to the formal banking system, which is very less than expected by gov. Out of 15.5 lakh crore of banned notes, 2-3 lakh crore notes was expected to hold as black money. Although thousands of crore have been identified as black money. But it fails to achieve success as it supposed to be. The Government should understand that corruption has been also digitalised and they keep money in form of shares, gold, land on others name. Middle and low-class people had suffered more than black money holders. They had to stand in queue for hours to exchange their own money.
After that loss of government, they divert their aim towards digital payment. Rural areas which don't get enough signal to talk on the phone, how they will able to make digital payment.
So in my views government has been unsuccessful to curb corruption.
|Jamil Ahammad said: (May 19, 2017)|
|I think this decision was awesome, but implementation was not good. Therefore so common people were suffering from some problems. As we know, demonetization Was idea of Modi, due to this many people still feel suffering from some problems. This decision taken by government By saying to uproot corruption and reduce black money but it could not have happened. It could be succed but but never happened. According to me, the govt should not have displayed this step. It was sudden step towards corruption Nd black money. Only to control corruption Nd reduce black money it has taken but it is not fair and not sufficient step. I would like to conclude finally this step suddened happen. All of us shocked to listen this new. It is not well-planned decision.|
|Yashwanth said: (May 19, 2017)|
|Hi, this is Yash,
Demonetization is the most happening factor present in India. Our Indian government has finally made a cult decision by banning currency notes to reduce black money transactions. Maybe, it's a good thing to hear initially but later on, many problems faced by common people makes us think: Is the step taken by our government is good or bad? The higher and lower classes faced problems to some extent. But the middle-class people suffered a lot due to the limited exchange of money, insufficiency funds for daily expenses etc. Finally, the government had released a new 2000 rupees currency which has been never before. Thus, somehow common people's troubles come to an end and the upper classes people started facing difficulties with their black money.
|Ankita Roy said: (May 17, 2017)|
|November 8, 2016 was a nightmare to all of us after getting the information from the news channels of banning the 500 & 1000 notes.
It was a great step taken towards the anti-corruption to remove the black money from the country. But the impact on the 3 classes of society was different from each other. The 3 classes of society as defined mostly are low, middle & high. Talking about low-class society (people below poverty line) would not have much cash in 500 & 100 notes. But the little they had, it wouldn't be exchanged at banks as most of them do not have bank accounts. The next class of society is middle class. Keeping the huge amount of money with ourselves not necessarily means a black money. It could be due to many occasions which need it like marriage, house construction etc. During the demonetization period, these are the people who suffered. As a bank had defined amount limit on the exchange of money. The third category society the upper-middle-class & high-status society, who are suspected to have black money. The question arises here "Would they keep hard cash or will it be in some other form. This class not only consist of the businessman but all the politicians and other high authority holders. It's quite obvious that the decision of demonetization was not taken alone by the prime minister of India. It could be with a group of members which include politician and other bodies like a bank. They were aware of the step before it was applicable. Now, this could let us think that precaution measure have been taken by them for not being black money holder. It is important to focus on the denomination it's the ban of 500 & 1000. This is done to avoid the large amount transaction in cash, a step to avoid black money. But a new denomination of 2000 is introduced the very next week. It's quite contradictory the way steps are taken and the implementation of it.
However, it could be implemented in a better way by setting a limit on "earning & property and to track them down by income tax raid & not disturbing the whole nation. As a citizen, it's our duty to support & encourage such steps which could benefit our nation & the people
How demonetization is affecting common people more than black money holders?
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