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

Hello everyone, it is obviously true fact that, for sudden demonetization in India, the common people are affected so much, the common people who have a lot of 500 and 1000 notes in home or who needs to take lot of liquid money from bank or ATM for Marriage or Medical purpose are fell in great danger. The common people have to stand in a long line to change their 500 or 1000 notes in bank or to take money from ATM. But this harassment will be occurred only for limited time (3-4 months). But the black money holder will fall in Fish out of water. Although their maximum black money may be in form of Gold bars or Jewellery but the liquid money they have, are totally useless, if they want to give it back to bank, then they have to give 200% fine because they can not show legal source of their money. So this money will be totally useless to them. For the demonetization, though common people will fall in harassment but for this, it is to be said that Terrorist activity will be decreased, Corruption in India will be decreased for at least next 10 years. So I think it is a good and effective step against corruption by Indian Government. Thank you.

Sudden decision by govt. of demonetization is a great blow for common people because people like daily wages labour, rikshawala got a big blow.

Lines in the ATMs and lines in the banks are affecting common people more.

As we can see that many people have died in the bank lines.

Infect we did not heard about any rich people who was stand in the bank lines.

But at the same time, we can not refuse that this is a very big and good decision against corrupt people.

It will reduce tax evasion, children trafficking, fake currency circulation.

In short for long term benefit we must face short-term problems.

According to my view, Demonetization totally affected both middle class and high class people. Now here little Change seems. That is some of the people easily overcome this issue. Many of not. Black money holders were using their political influence and economical influence to change their money. So ordinary people didn't change their money.

This is one of the most debated topics today. The effect of demonetization affects every people. But the severity of this affects mostly the black money holders. Common people feels difficulty in exchanging money only. But the media use this situation for their benefits. They concentrate more on the people waiting in the queue for a long time in the bank. They also broadcast it every time. This changes the mindset of the common people. So we get the news that they face more difficulties. There will be some difficulties in everything. But the impact of this is larger on black money holders. We the common people should co-operate with our government. If we ready to walk on the way of thorns, our future will be bed of roses.

Hi everyone.

At the starting stage of this demonitization this was true because it seems like common people are suffering from from that decision. But as the time passes slowly problems of common people are decreasing and black money holders problems are increasing.

As coming to the problems facing by common people I can say one thing if a soldier says why I should risk my life for the sake of you people then we will not able to sleep in our houses happily. Trust in the decision taken by narendra modi because every where people critisizism is common. People say when we listen. If today we face problems our children's generation will leave happily.

Hi,

First of all, it is a good initiative because other higher official didn't think of that.

Even a mighty ruler has a fall, and hence even it is a good step, there will be some draw-backs. Notably daily wage workers and farmers. The people who hold their money in terms of property are the kings of trade since they don't get affected but still there are some people who have in terms of cash. Common people are the one who gets affected the most but the scenario may soon change for them but for the black money holders it is a complete nightmare.

Hello, Yes demonetization is affecting common people a lot but it has affected the black money holders and the businessman too. We all know the fact that if we are on a good path there will be many obstacles we have to tackle them. These problems of common people are for only a few days but the black money holders will face a long-term problem. And about moving towards cashless economy, yes it's good but for implementing it we will have to first make people aware of the benefits of a cashless society.

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.

By the current scenario, we can see the common people have face the many problems than the black money holder because from the 8th December only common people standing in bank line no one is from black money holders.

The rich have that "extra money" saved as black money, there is no dearth of money and resources for them to cater their daily needs, whereas poor and ordinary are usually the daily wage earners with a substantial amount of their savings stored in the denominations of 500 and 1000 Rupee notes. A major chunk of the employees comprises of daily, weekly and fortnightly wage earners, earning less than Rs. 1,350 per week. They usually earn and spend on a daily basis leaving very fewer savings for emergency situations. Their earnings have certainly impacted as India has blocked 86% of the currency notes in circulation, resulting in shortage. With the majority of the workforce belonging to the informal sector, currency ban has hit them badly. For example, the fruit sellers, vegetable vendors, flower shops, fishermen communities etc. Which belong to informal sector don't rely on bank transactions, rather deal in cash. With this ban, there has been a significant dip in the consumption thereby resulting in massive losses for such people.

Secondly, they are standing in long queues to exchange currency as well as withdraw money, leading to loss of daily earnings. Many cases of people dying or starvation or medical attention due to lack of cash has been reported. Farmers have felt the burnt of demonetization since they couldn't purchase seeds, fertilisers or sold the freshly harvested crops in the market. Indians would never have paid their domestic help and other people through cheques, however now they would.