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

Hello, friends.

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.

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.

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.

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.

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.

Hello guys.

I think in the case of humanity if our government think about 1% then they defiantly did help our poor people because we have known many people who lived in villages they have no bank account. That's the big problem.

And the other thing is we already known how profitable people change theirs.

Demonetization is affecting both common people as well as black money holders. But common people affecting more than black money holders. Common people have to face so many difficulties like they are standing in a queue for deposit as well as withdrawl of their money and also many those people who have no bank account, they have no option where they change their banned currency. Various small retailers are also affected, their sales fall down, pitfalls in resturant 20-30% etc.

As per above, I said that demonetisation is affecting black money holders also. They are also facing difficulies in conerting their money. If they deposit their money in bank, then they have to pay higher rate of tax. The news telecast in tv, various rags full of money found in river. Black money holders have no option to covert their money so they thrown their mony in river.

Hi, I am Suraj. I think the planning for demonetization was perfect but management is not perfect because of that common people will face many problems such as stand in the ATM lines for withdraw his own money. But this will no any effect on the black money holders and they convert their black money into white money by other things such as purchase lands, gold, etc.

The biggest advantage is that we came out of the black money and its has the best thing happened to our country by P. M Narendra ModiJi and I think he has the best for the betterment of the nation.

Yes, demoetisation has affected poor and middle-class people a lot. People who work on daily wages are majorly affected as on their work their head didn't have money to give them, from farmers no one was there to purchase vegetables, fruits, grains as buyers didn't have new notes. So, no money no food. They were totally helpless. Some people got depressed, some got a heart attack due to such news. People were standing in long lines outside ATMs whole night and morning along with mattresses and quilts to get money. It affected many people but on the other side if we talk about black money holders they had sufficient money they can spend and purchase whatever they want and many many black money holders purchased gold and invested in different sectors like purchased vehicles, petrol, plots, houses, shares and many more things. It majorly affected common people more than black money holders.