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

Demonetization is a good step our government, it leaked out the extra money which people had kept by earning through wrong paths, also the revenue in the municipal corporation and the income tax was paid in huge amounts during this demonetization period.

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.

Hello friends,

Before starting a topic firstly I am discussing about demonetization.

(Demonetization means the current currency that we use for the transaction are not acceptable in the market. In place of old currency, government issues new currency. ).

On 8 November 2016 when pm announces demonetization then there are many hurdles are comes after that announcement mostly common people are more affected because the implementation of demonetization is not too good that it should be.

After the decision when I saw the long question in front of atm machine I thought the whole black money in the hand of poor people.

Our pm declares many announcements after demonetization even a promise are not fulfilled.

Our GDP goes down 7% to 6% that the big loss of any developing country.

The whole market goes down between this process.

The common pelope are unemployed causes of lack of money in the market.

Hello everyone, of course demonetization doesn't show it affects on black money holders but it shows effect on people who or not corrupted only 3 to 5% black money holders were affected (most important thing most of the black money holders stored money in foreign currency, not in Indian currency) demonetization effects people like contractors, small-scale industries, some officials who stored their money in Indian currency. According to my conclusion demonetization affect non corrupted people but not black money holders.

Hi friends. Myself digambar.

I think demonization is a great impact on a middle-class family. Because by improving our life the rates will higher on imp needs. Like foods, clothes etc. By this increasing the cost this develops the problems in front of common people. Aand the black money holder's can easily exchange the black into white currency in banks. HHe does not face problems but common people can be faced problem in banks. By this situation, the loan is increasing day on our country.

Their is no doubt that demonetization is one of biggest step taken by the government to bring out the black money. It is clearly seen that the demonetization has a great impact on the economy. If we see the market its size has increased a lot after this revolutionary steps.

But the government was not fully prepared for this step. They are unable to analyse the situation.

But it impacts on common people is very much more as compared to the black money holders. If we talk about the small employers they are unable to buy or sell the products, due to which they have faced losses. Maximum number of peoples who are in the long question are common people not the black money holders. The daily life of common people is fully affected by demonetization. They have to leave all of their important works just for the sake of changing/ getting new notes. A number of people also died in those long question of ATM. People does not have the money even to buy the necessity goods. Their is the shortage of cash in almost every bank. Most of the ATM machines are also not working.

Most of the Black money Holders converted their old currency into the new one with many unethical ways. They are the ones who never stands on those long ques, on the other hand the common peoples were their in those question and faced the problems.

Udoubtedly demonetization was helpful in eradicating black money to some extent but as it was announced all ofa sudden and was poorly planned the middle class people suffered a lot. There was a large que in atm's as people had no suuficient cash to buy their households even people even had to rush to banks to exchange the 500 and 1000 notes by taking leave from their offices. Many people died due to rush in atm's and as there was a restriction in withdrawl of money people faced a lot of difficulty.

I think common people have suffered a lot after PM announced ban on 500 n 1000 RS notes. The decision was quick and people were not ready for it. Common people had no money for buying common things required for household. Also they had to take a leave from their office to stand in que of banks to exchange their notes. I think it was not planned properly they should have first make sufficient currency available.

The demonetization was a good idea.

But it not up to the mark, our honorable Prime Minister is came with this idea in midnight so it took bit success.

But the urban poor peoples are got struggle, and lot of machineries to be changed because for note is changed how the old machine will work (ATM & NOTE PRINTING MACHINE).

The govt got loss instead of getting a profit.

As well corruption is eliminated little bit, we can't say that it is eliminated fully it is not possible too.

If everyone supportive for this demonetization means our country will definitely go to somewhere else.

Our government made reasonable action of demonetisation to convert black money into white but common people are seriously affected by this movement than who doesn't pay the tax.