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

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.

Good morning friends.

The motto of demonetisation in India was to weed out black money from every corrupt individual but we all know that common people in India is hardly earning it's daily livelihood they must be remaining unaffected but they were the most to be affected as they have to stand in long queue in order to get some cash to manage their day to day activities.

While corrupt people's are also affected as they have loosed their black money but they are not suffered a lot as they have found other ways to turn their money into white. While most affected people's were rural people's who were unable to understand what has happened to their country suddenly why their currency has become unacceptable suddenly. I think demonetisation would be more effective if gov could have saved the common public from suffering from its impact.

According to me, demonetization is changed the corruption era. It is affecting common people more than black money holders but good thing is that it affects on corruption. We saw that in demonetization the goverment collect lots of money from black money holders also its increase GDP of our country. But common people faced lots of trouble in three months. They are standing in a queue for a day for 2000 or 4000 and ATM was empty. Also, bank employees help celebrities and politicians for withdrawing money from the backside. My view is demonetization is a good step but its affecting common people very much. Demonetization is a good step taken by the government it is definitely helpful to India to become developed country from developing the country and it is very helpful to decrease corruption in India. But for the demonetization common people's face lot of problems than the black money holders because for withdrawing money they wait a lot of time at ATM centres. It will apply for every five years it will definitely useful to decreasing corruption. Demonetization is affecting to the common people but they will get benefit from it in the future. Someone said that instead of immediate disclosed this information they should inform the people for fixing the date for demonetization if they do so, again it helps to black money holders before demonetizing they had exchanged the money from 500 and 1000 to 100 and 50 notes. Modi had taken a good decision of immediate action on demonetization. Of course, it had affected on common people not only in this matter. There are several matters are there which can affect to common people. If anyone made the survey immediate decision on demonetization they will get 80% to 90% good result because our country people know what is right and wrong. Most of the people knew that demonetization will help to the middle class and low class and it should affect on middle and lower class along with these things, they knew they will get benefits from this in future.

Hi guys,

I am Akash and yes demonetization is affecting common people. Small vendor are spending more time in front of atm line. Its difficult for them to use electronic wallets for transaction because some are very old for learning this stuff and poor people don't have resource for e-money. All black money holders have money the only thig they need to do is convert into white but common people has to earn that money which in those days is a problem of transaction. This explains demonetization effect common people more than black money holders.

I would like to start with detailing about the consequence demonetization on common people. Common people had to stand in queues for hours and hours, for transactions, and unfortunately few people lost their life standing for currency exchange. This was not only the consequence but, also there was restriction on deposition and withdrawal of cash. This had created a miserable situation for most of the people, though it was known that, all this would not remain long. When common people were struggling, few of the black money holders had already exchanged all their black money with the new 2000 and 500 rupee currencies. So now, obviously it was the common people who were the sufferers.

Also RBI claims that the demonetization resulted in decrease in overall business which led to downfall in economic status. Out of all black money, only 1% came out and the rest has remained still undiscovered.

Now the point is, was demonetization, which led to soo much inconvenience, worth only for 1% of black money to come out!?

So I believe that, demonetization was not a effective solution to bring out the black money out. But "something is better than nothing", the efforts should always be made for betterment of the country by getting all the black money in Swiss bank and other sources out.

Demonetization was no doubt a very great initiative taken by our pm but it was not implemented the way it should have been. Its main aim was to curb the black money out of people's pocket. But most of the rich people were able to convert their illegal wealth into white money with the help of their links with the bank officials. Also, depositing some of their money in the bank a/c's of the middle class and lower class people and giving them their part after demonetization helped them further. It affected common people more as they had to stand in queue's to get their money exchanged. As soon as demonetization was implemented all the banks and Atm's went out of cash which made it even more difficult for the public.

So, I think it affected common people more than black money holders.

Demonetization is a process in which, the currency which is currently running in the market is ceased by the government.

It is usually done to check black money and to remove fake currencies from the market.

Our PM Narendra Modi, on November 8, 2016, declared notes of 500 & 1000 as invalid.

The idea of demonetization was good but there was no plan to implement it properly. Lots of people lost their job, the growth of GDP also decreased, common people were seen standing in ATM queues for money while rich people were not seen in this troublesome condition. RBI also stated that approx 98% of the currencies were returned to the bank, it implies that there was the very less fake currency in the market.

This demonetisation could have been a very good step if there would have been proper planning.

Demonetization means ban of currency in the economy. In 1946, demonetization of 1000 Rs. Note and 10, 000 rupee note took place in India. In 1954, 1000 rupee note, 5000 and 10,000 rupee note were introduced. Again in 1978, government demonetised 1000 rupee note, 5000 and 10,000 rupee note from the economy. The impact of demonetization on various sectors are:

GDP (Gross Domestic Product); we can say that GDP is directly proportional to the government Expenses, consumer expenses, and investment. After demonetization, the circulation of currency became less so GDP automatically became less.

Farm input is not available in the agriculture sector so daily wages farmers became jobless.

In long-term impact on lending rates became down.

Inflation arises due to higher liquidity presence in the market.

After the announcement on 9th of nov 2016, the gold price increased up to 40,000/- from 32,000. So 20% to 30% high was observed in gold price after demonetization.

After the announcement within 4 days 18 crore transaction was handled by the banking system.

Activities carried out by terrist hamper by demonetization of currency.

Hello everyone,

Demonetization is a very good step towards the development of our country, fake currency and corruption that was taken by respected PM Narendra Modi advised by Anil Bakoli. We always complain that no action is taken against corruption and when it is taken we start to blame the government. This was an abrupt decision and it should be, so that corrupt people can't convert their black money into white, so people also have to face problems due to this abrupt change. According to me demonetization has two faces one is good and one is bad. Good face is that it returned back a hundred crores of black money that will be used in the development of the country. Government Also allowed old currency in hospitals and some government institutions where someone's life is more important than its decision.

Bad face is that the proper arrangement of the new currency was not there that's why common men have to stand in a long queue of banks and ATMs. I never saw any rich person or celebrity in this queue because they have the approach to convert their black money. Many have to suicide because they could not arrange the money for their children's marriage and farms. Corrupt people are taking a bribe in gold and new currency form. All the black money is not in the form of cash, it is in jewellery, property form and stored in Swiss banks. Only common men much affected in this surgical action.

I know the condition will be same after some time, bribes will be taken, the neighbour country will print fake currency and corruption will be continued. But we know abolition of corruption from the root is very difficult but to some extent, it affected by this decision and crores of black money captured in it that will be used for the country.

Thank you.

Hello, friends, I'm going to discuss the topic '' How demonetization is affecting common people more than black money holders?''.

As we all know that everything has same advantages As well As disadvantages. Demonetization is also an example of this. Common peoples had badly affected by it than the black money holders. Coz, the powerful black money holders had found the way easily how to convert their black money into their harm worked money, by the hello of same corrupted peoples in the system. But common peoples had no way To get rid of this and they stand in a long queue of banks for their money which they got by working hard and honestly.