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

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200 comments Page 2 of 20.

Anmol arora said:   7 years ago
My dear friends, demonetization was a step taken by Honorable PM Narendra Modi on 8th November 2016 for the welfare of common man. It was quite shocking news for black money holders. Some of them even died of heart attack and a few started taking sleeping pills. They started finding illegal means to convert black money into white by bribing bank employees or commission agents. Some of them threw their money into river Ganga. Donation boxes were also seen full of cash during those days.

On the other hand, innocent people also had to face lots of difficulties. They had to stand in ATM lines for hours. But they still stand with prime minister because they know that this step is for our betterment. Revolution can't be brought overnight.

Common man was getting money in exchange of their money unlike the soldiers on border who are getting.

Bullets in exchange of bullets. It is only journalists and opposition party who were making big deal out of it. Otherwise, common man supports this policy.

At the end, common man suffered hardly for 2 months. But it gave long lasting impact on black money holders.

Kiran said:   6 years ago
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.

Ashish kumar joy said:   7 years ago
The idea of demonitization was very good and was taken with aim, to fight against corruption, fake currency, terrorism. Up to some extent it was successful in it attempt as many people declared their actual income (which was previously undeclare), many Naxal groups surrendered due to no cash, violence in J&K decreased considerably during demonitization as terror financing anti-nation groups had no cash (new paper money), human trafficking decreased, people started digital transactions, revenue collection steeply increased.

But as the monetization was not implemented as effectively as it was thought common people have faced scarcity of cash, had to stand in long lines in atm, banks to withdrawal their money, many poor workers of small industries lost their job, due inhumanity of some doctors, some poor people's died as doctor refuse to give then treatment because of not paying hospital fee in new notes.

On the other hand, many corrupt people successfully converted their black money in gold, exchanged their old notes with new notes with help of corrupt bank employee.

Conclusion: demonitization was meant for country benifit but unfortunately it caused common people suffering, we hope in future we got.

Good output of demonitization.

Priya said:   7 years ago
Demonetization is a kind of government action to tackle and stop black money in country. 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. Mostly, people supported this decision that is very appreciated and helpful for the government. As I know that common people faced many problems during change notes and withdraw also but I think, people should understand that if we stand in queue for movies ticket, railway tickets, strike and etc then why can not stand for stop black money only for one and half month. For my opinion, It should be happening in every 5 to 10 years to stop black money in the country and people must support our government ever because it will help to grow the economy of the country and decrease inflation. Thanks.

Anand Kalchuri said:   7 years ago
Hi, Yes. Demonetization is affecting common people only, common people are unable to withdraw money from banks. Small vendors are unable to take payments through electronic mode. Even ATM'S are cashless. People have to visit so many ATM'S for cash. Black money holders have converted their black money in to white by other ways. In this country, we have to tell people through advertisement where to go toilet. How can we expect from such people to accept electronic payment mode. Lakhs of marriages of common people have been cancelled because of demonetization. But the marriages of Big people like Nitin Gadkari's Daughter hasn't been cancelled. This is the very worst decision has been taken by our Government People are facing big problems for getting medical services. No one Politician, Big Businessman or Celebrities have visited bank for money. It explains that common people are affecting more than black money holders.

Niza said:   7 years ago
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.

Priya said:   7 years ago
Demonetization is an established practice in monetary policy to tackle black money by Prime Minister Narendra Modi.

According to me, this is a good move but the small farmers, sellers, merchants, daily wage labourers and traders are suffering because of lack of proper planning, intelligence. They all standing in front of the ATm's and bank for the wholeday and facing problems because of the limit of withdrawal & insufficient money.

Many old aged people, pregnant ladies also suffers in this. But the black money holders keep changing their money in a different way. From this, it is clear that demonetization paved a way for the black money holders to make their money white.

Abhishek singh said:   5 years ago
Good Morning to one and all.

As we know demonetization is one of the respected measures has been taken by our honourable Prime Minister Modi. Like two faces of the coin this measure also have two different effects.

The positive aspect is that this helps us to become a corrupt free country, it helps to remove terrorists and smuggling activity.

Negative aspects is that people need to stand in a queue and due to insufficient cash they are unable to meet daily liabilities.

But in overall aspect to meet corruption less country we also need to go through some tough times.

Naveena D said:   4 years ago
Good Morning Friends.

According to me, Demonetization will helpful for development growth of the country. But at the same time, that impact is disturbed on common peoples. Because common peoples are want to re-modify the rupee notes. So these is disturbed on common peoples. Business persons or well-being persons have easily modified the rupee notes. So, these things also affect the common poor peoples. Black money holders also easily change their money but mostly does not affect them.

Rishabh said:   6 years ago
Yes, demonetization has inflicted more agony on poor than rich, it was a wise yet an ill-conceived move:.

-> A large fraction of Indian economy constitutes of informal sector which is a cash-dominant sector. After demonetization was announced it became difficult for the daily wage earner and labour to earn their bread.

-> A mid cash crunch emergency medical treatment and travel became difficult.

> Families who had planned event and affairs like marriage etc beforehand were stuck midway.

-> Rural population suffered the most among all as most of them didn't pose any bank account because of more money they had and were abused and cheated by exchange mafias.

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