How demonetization is affecting common people more than black money holders?

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.

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.

Hi friends,

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.
Thank you.

Hello friends,

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.

Hello, my friends.

Demonetization is an effectual step but was not much able to execute it properly. It ought to be planned before implementing this step. It should be remembered by the government that with advantages disadvantages also come. The government had to be ready before taking this step.

So I think that it was not a much adequate step.

Demonetization is one of the big leap taken by the PM Narendra Modi on 8 november 2016 to deal with black money, terror funding, fake currency which is already in circulation and many more corrupted things.

NO, I disagree that demonetization is affecting common people more than black money holder because this move taken by the government to usher in bright future of India.

Bank and financial institutions in India were recently suffering from severe loans and non-performing assets. This bold move make the bank cash rich. Bank are today in very good conditions and have capable to finance big projects due to its increase in liquidity. Suddenly ban of 500 and 1000 rupee note created problem in front of citizens because they have to lined up in front of banks from day to night to exchange their old currency and even banks were faced problems due to lack of 2000 and 500 new notes. But we can see that the situation is stagnant now.

Now, bank have enough new currency. Demonetization effects large part of Indian economy, Indian citizen in some good and bad ways but no doubt this step was one of the bold move to back stab the corruption, terror funding etc.

Yes, one of the best thing as PM modi also said this is the only move which is supported by all the Indians no matter which caste, which religion they belong. And also demonetization is the move which grab appraisal across the country. Different country Pm's appraised PM Mr. Narendra Modi for this bold step. It will also ease up the tax -GDP ratio of india, thereby helping to improve India's credit rating in international economy.

As per the report, only 3-4% of citizens pay their direct taxes which make government collect more revenue from indirect taxes. If tax compliance is raised to 90%, it will not account for the wealth created but shall also increase the tax revenue of the government. It also effect the dowry system of India in large extent.

It is also a sure step towards the digital India as 86% of economy driven out of cash and yes digitalisation will be prove very beneficial for India as it will decrease the money related crime.

As being the Indian citizen it is our onus to support government for their right move for the betterment of Indian economy by keeping aside of our personal issue.

Definitely, Demonetization affected on common people. Our Government started Demonetization for Black Money, but now it's come to cashless India. Even as per survey 15600 crores money should be deposited in bank but only 15400 Crores money deposited in bank. So where is remaining 200 crores rupees? That mean till now also there is black money holder. In case of cashless transition, how can it possible in rural area where ATM are 5-6km far from village, and what about uneducated people. And one of the most things is what did you saw any politician or business man in queue of bank. Only Rahul Gandi seen in queue only once but at that time only we can withdraw only 2000 Rs. Even I went in ATM more than 20 times because of Long queue and sometimes cash was not available, so how can he satisfy only one time stand in line.

Hello guys,

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.

Hi,

According to me, demonization was the wrong decision because of this many people lost their jobs and after that, we saw our GDP growth decreased, the economy also suffered a lot and if you talk about the collection of black money which was promised by the government according to RBI data almost 98% notes deposited in banks and finally this is so many example failure of demonization.

Jai Hind.

The common masses were hit most by the government decision to ban high denomination notes of 500 and 1000 as was evident from the scores of people standing outside the ATM. People did not spot any millionaire standing out there. They simply did the exchange for them. Because they can afford. Who was hit most, the daily wage earner who was not paid for days owing to the lack of cash in the economy? The people who had just started a small enterprise and were rendered cashless. The people who had no money in their Jan Dhan accounts. They were merely dependent on the daily wages they used to get. For whom there is no source of regular income, these people found it really hard to make ends meet. To the farmer who was expecting a good return on his crop but was forced to sell his crop failing to get even the transportation cost let alone the price of his produce. Demonetization is certainly a good move but here also the poor suffered more and the hoarders of black money still managed to get away with their exchange. Hard reality but this the truth. This is the rich-poor divide which needs a better mechanism to nab the holders of black money. Hope the government loads it with some new ways to catch the evaders.