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

Hi, from my point of view, demonetization is a great step for our country where maximum people lives below poverty line. Income tax is the only source of income of government, by this govt developing the country. We are getting many schemes from the government if they have small income how could they develop.

By this demonetization, common people and black money holder both are affected. Common people have no black money only they have changed it or deposit it in the bank, to do this we had to stand in long line under the sun for long hours, even in ATM also. No money was available there for a few days. No change was available for 2000 rupee note. An old person was not getting their pension. Black money holders they had tried to convert it to white, buying gold, diamonds, booking flight ticket. When income tax department closed all the possible way, their black money becomes garbage, just throwing it into river, pond or dustbin. Several year collections wasted totally, but some corrupted bank employee was involved in converting black money, but some caught with money some not. But this demonetization will place a mark in black money holders mind to keep money in future. Hope that our suffer will be valuable for the longterm.

As per my opinion, demonetisation affects both common & black money holders.

As all says that it affects common people the most but that not correct. It deals a huge effect on black money holders, but they never show it. But the effect can be clearly seen on common ones.

One should survive for a great change. Now the money collected by demonetisation is being used for the benefit of farmers.

Hello everyone, I would like to get all your attention about that demonetisation certainly had effect on common people as common people have to stand in a queue for a long long time that too with no surety of getting money But it is also the duty of common people to contribute in a change for something good for nation.

Now if it is about black money holder they are very much affected but was shown as is in case of common people.

As we have seen a number of raids conducted by IT dept on black money holder which put them in a lot of tension and stress.

Our govt have tried to release stress from the commoner by allowing them to use demonetised notes at govt places and limit for withdrawal money for marriages had been increased and govt changes the rules very frequently just because the cheaters are trying to get a way to cheat for them govt was changing the daily rule frequently.

So I think commoner suffered for short period but cheaters are worse affected and punished.

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.

Hello,

Yes, the question was framed really brilliant, of course demonetization was affected common people more than black holders or we can also people who are in upper middle class, our govt says it's only for common people and our country to go next level, but the govt was failed to recover black money, they changed black money to white money without any difficulties they used people who are in low and middle class to change black money I speaking as a man who affected by demonetization in November we had been building a new home it was sponsored home by our parish I had to give 50000 to people who work for me then only they can manage they can fulfil daily and food expensive of their family for the next week I have everything as old I can deposit to the bank but I can't take more than 24000 so I can I do, but you had seen television during the note changing common people standing in a long que because they don't have another option, I just want to conclude that it really affect only common people thank you.

This is the best topic to be discussed. On 8th of November, Indian government banned currency notes worth rupees 500 and 1000 which constituted 86 percent of the entire currency. Almost all people faced several difficulties and government decision was criticized all around. People demanded why there was no prior information regarding currency bans.

The basic aim of government was to control counterfeit notes, stop hoarding of black money, stop terrorism and to include unaccounted money in economy. But this step of government definitely failed to satisfy people, especially the middle class common people. People faced difficulties, many also died to wait in unending atm and bank queues waiting to deposit or collect money. Here also those people who boarded black money were the ultimate winners. They somehow managed to convert their black money into white. There were reports of various bank managers who were indulged in these unlawful activities and they took large interest rates on it.

We can't deny that it would have been the best decision ever for our country unless it had been enforced with proper planning. As government knew that it is going to implement demonstration, it would have kept enough reserves of new notes in all banks.

One main point was that the government was also not consistent with its decision. One day there was a rule that we can't withdraw more than two thousand, the next day it became three thousand and then again the next day it reduced to twenty-five hundred. Total forty-five times sometimes government or sometimes RBI kept changing their policies which created inconveniences among people.

Those people who had to marry their children were allowed to withdraw only 2. 5 lakhs. This was definitely not a nice decision as in today's economy where everything is on their sky touching price no one can even imagine of marrying his or her son or daughter with such a little amount. Farmers also faced difficulties. They were unable to fetch the required amount for their harvest for what they had expected. As a result, many of them had to dump their harvest because they had not enough money to bear the transportation charges.

Thus we can say that it was not an economic decision of government to ban notes without having proper reserves and there are also chances that our GDP may fall as a result of it and ultimately the sufferers are the common people.

Hai friends,

Demonetisation a major step taken by Indian government, definitely a step for long term benefits of people of India.

But what about common man who is major contributor of Indian population and economy.

I strongly feel that, with such a drastic decision naturally common man was (is).

Affected more. Many people without bank accounts, people with account also not comfortable with ATM, in such a situation if the currency changes they don't even have an idea what can be done. Because it has become problem of 80 percent of people every one is busy solving their own. No one to provide proper guidance and common man suffered like anything.

Many couldn't go to doctor and couldn't purchase their regular needs. Of course, the situation was handled by them nicely, as they were patient at many places. Now they got used to handling the situation and ready for forthcoming benefits with positive attitude.

But before implementing such drastic decision, government might have planned for certain steps like making online payments compulsory at places like pensions of senior citizens and having lower denomination in ample. This might have been a better step with such things.

Although common man affected more, definitely He is the one who is going to reap the benefits also.

Thank you.

Hello friends.

It's well known by everyone the condition of our country, 80 Rs. Of money are under the well-known celebrities, politicians and black money holders are also one of them and only 20 Rs. of money for the common people.

Yes, this decision affects common people but the common people have to understand that this decision is taken for them only, for their goodness. We can't expect change in one day it should take some time. Today common people suffer from this, but their today's difficulty give them a better and brighter future.

Now for black money holders, they are mostly affected people because they have that much money we can think. There is no way that they exchanged their whole black money into white money.

So it's a bold and appreciable decision taken by our government for the wellness of common people only.

Demonetization is one of the good ways to improve our economy in our country. But the people who earn money in daily basis they are really affected to buy something whatever they need. In one side the poor people are affected by demonetization on another side the people who are sitting and debating in all TV channels. The black money holders have known how to change the black money into white money but the real sufferer is public.

Hello friends.

Today's our discussion topic is how demonetization affects common people more than black money holders.

According to my opinion, demonetization, effect both of them common people as well as black money holders but more effect of demonetization is on the common people. Everyone standing in the queue and only for to change their banned 500 and 1000 notes. But if we discuss black money holder they are is in their house and try to exchange their money. And 70% black money holders change their money and turned white. During this exchange process, we see that and listen to commission agents. This is the disrespect of our currency. And some states literally sell old 500 notes worth rupees 400 and 1000 notes in 800 rupees. It means people helpless to fulfill their needs and due to long queue in banks, they do not have sufficient time to exchange their money. And the tourist who come to visit India they all are stuck in this period and they are unable to enjoy historical places. Another thing is daily wages worker does not get their salary and they are also facing lots of difficulties. But black money holders stay in their homes because they already have enough money and reputation to purchase any product to fulfill their needs from the market. My conclusion is an effect of demonetization is more on common people as compared to the black money holder.