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

Demonetisation was a step taken with good intentions but planned badly. I have seen that 99% of money came back to the system as suggested by the RBI but nobody has stated that how much of it is white money so which is still to be known.

After demonetisation our tax base has increased considerably earlier only 4% people used to pay taxes now it has increased to many folds.

Hello everyone,

As demonetization is the biggest change happened in this year by honorable PM Narendra Modi. This step was actually taken to reducing the black money from the country. And most important to move the first step towards reducing corruption.

Although, its a very good thing decided by the PM but somewhere it was not properly planned. It hampers the common people more than the actual black money holders. Common people suffered from many problems in exchanging money. And as the middle and lower level people generally carry 500 or 1000 rupees note. Exchanging of these notes with 2000 not only affect those people but also government faced huge amount of lose in printing 2000 notes.

In other side, there also no result if found of it. Most of the ministers, corrupted leaders or businessman again saves themselves from the Money and by using some wrong ways. So for that time it has adverse affect that it enhances corruption.

Hi friends,

1) Demonetization is the act of stripping a cumency unit of status as legal tender sometimes,a country completely replaces the old currency with the currency.
2)The opposite of demonetization is remonetization.In which forum of payment is restored as legal tender.
3) There are multiple reasons why nations demonetization their local units of currenccy.
3.1)To combat inflation.
3.2)To combat corruption & crime.

4)To discourage a cash -dependency economy.
5)To facilitate trade.
6)The demonetization initiative by the government of india has taken the country by storm.
7)Every single person living in india has been affected by this major change in some way or the other.
8)That the repercussions of demonetization will continue to remian in the newsfor some time to come is evident.
9)However before familly an opinion on the governments decitson todemonetize currency in the form of 1000 & 500 bank notes.
Thank you.

In demonetization, middle-class people are more affected than the who kept black money inside.

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.

Hello everyone.

Demonetisation was a step taken with good intentions but planned badly. I have seen that 99% of money came back to the system as suggested by the RBI but nobody has stated that how much of it is white money so which is still to be known.

After demonetisation our tax base has increased considerably earlier only 4% people used to pay taxes now it has increased to many folds.

One more thing whenever a transaction takes place it leaves a trail behind it. So after demonetisation it is easy to look after those bank accounts which are suspicious and lots of transaction took place after 8th November 2016.

Common people were definitely affected many people lost their lives which could have been avoided.

It is a badly executed good move.

Demonetization idea was good to reduce black money, but only with idea govt should not declare that it will be reducing black money, with proper action and implement can possible. Our pm had come known this thought after announced demonetization, he hasn't fulfilled his promises so far in my view planning is very important before going to do big change in society, that was missed in demonetization.

Hello Everyone,

Demonetization took everyone by storm and created a big bubble in the country which gave us a hope for a better future without black money. Yes, the idea behind demonetization was good but the execution was very bad. The Indian government could have done a lot better then this.

The recent numbers given by the RBI shows that 99% of the currency was returned back to the government while the actual expected numbers were quite low around 85%. Around 100 lives were lost in the two months after demonetization was declared because of long queues of people waiting for hours to withdraw a few 100 bucks. I myself had to literally starve a few nights just because my hostel canteen was not accepting card or paytm. Most of the black money by a few hundred millionaires and instead of auditing them, rest of the people had to suffer.

The Indian government had months for planning and still was lost millions of rupees in just printing the new currency with a higher denomination. I still don't understand why the government introduced 2000rs notes instead of a smaller denomination. People are gonna are argue that demonetization happened in the 1970s and our country got through with it, but we are forgetting one big important fact that the population of country grew almost double in last 40 years courtesy of are grandfathers who had nothing better to do!

Demonetization was good to stop things like reduce Terrorism, Black Money and to remove fake notes from the market.

But failure of demonetization is that its not well planed that's why the corrupt people find some black hole in the system and they convert there black money in white.

Result is till end 99 % of demonetized notes reatun in the bank.

Now comes to common people because of they have not such connection to the banking system they standing in queue or front of ATM's to exchange or deposit his earned money which is they earned by his hard working.

They lost there jobs.

They don't have money to arrange his own daughter marriage even they don't have money to buy his daily uses things, because company's had not paying him at a time.

Around 100's of people died during Demonetization, they all are COMMON PEOPLE not a single millionaire or billionaire.

So these all situation shows how Demonetization effect the common people life more than black holder.

Hello everyone, myself Asmita Mondal.

Undoubtedly demonetization is one of the biggest step taken by Indian government to bring up the black money, and there is a great impact of it in our social economy.

But this step is taken all of a sudden and without any proper planning how to handle the situation after banning the 500 and 1000 rs notes. For this reason the poor middle class family had suffered a lot. There were never ending que outside the bank's and ATM's during the whole November and December months, . The people stood up on the que leaving the works. As there were no sufficient cash in hand they couldn't buy household things. And as that was a wedding season, and there was a limitation of withdrawal of money the families had faced lots of problems. Many old people had died due to the heavy rush in ATM's and banks.

On the other hand, the black money holders were exchanging their money in many unethical ways. So according to my opinion the govt could be handle this situation in a more mature manner.