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

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

Yeah, It was the good step I appreciate it too. But think it from the other side like I am not against of any political parties or not in favor of anyone.

Actually on the 8 of November 2017, we were not celebrating the new era of the Indian currency but actually, we were celebrating in those Innocents those who were died in the queue.

There was no trouble for the rich ones but actually, the poor ones and middle ones get in the frustrating trouble. One of the BJP candidates had been caught with around 2 crores of 2000 new notes. And many more.

So according to me, it was the most foolish thing that government had done.

And according to the survey 99%plus notes has been back to the TBI. Then what was the use of demonetization?

And the last thing.

If you want to stop the black money then why you can't write the expiry date of the notes.

From this notes will in the flotation which will increase the economic condition and through this, no black money will also be there.

Hello, everyone, this is RAKESH.

According to me, this is not about middle class suffered or black money holders but if we succeed in our aim then it doesn't matter because in taken such step to remove the biggest problem of India each and every person willing to do it.

But did we get success in what we suffered for?

Yes, it is right, middle-class people suffered more they have to be in the queue for exchanging their notes. There is people marriage function are organizing in their house so they collected money for that and then this decision comes how they change their money. The patient got suffered. Many things are there.

But think once is this is an easy for gov to take such big decision. They took it after thinking about it thousands of times yes there was implementation problem they should circulate 10, 20, 50, 100 notes but we should support gov we should appreciate gov for taking such decision so that in future gov can take such decision with improvement.

If we talk about black money holders definitely they were in tension at that time. They couldn't get proper sleep and many cases are their we caught people with money. Now black money holders reduced at great extent.

According to me, demonetization seemed to be a great move at first but later because of its poor execution, it changed everyone's mind. People didn't had any cash in their hands, long atm lines, long lines at the bank for deposition of money. People who were not internet friendly were hit the most because they cannot get their transactions done online. Most people rotated currency their currency even after demonetization. Small markets like grocery market, transport, petrol, which are done with cash mostly were hit badly. There were only notes of 500 and 2000 available so there was a problem in doing small transactions.

As per my point of view, I think it is a good step taken by the government because in our India many people who don't deposit their money in the bank and as well as govt is not able to charges tax from them. But it also affected some people who belong to a middle class family.

According to my point of view, It was a good plan but when we consider the economy as a whole, our economy has various income groups like upper class, middle class, lower class and it didn't work out for middle and lower income groups. People were struggling to get the new notes and even banks ran out of notes and caused a lot of inconvenience to the people. Black money holders got affected a little bit but the plan was poorly implemented. No necessary arrangements were made before and the plan was implemented overnight abruptly and purely this has happened due to inefficient planning. The government should make necessary arrangements before they take big decisions like this. Black money was exposed but its just a tiny part. It didn't make any big difference for them. Few 500 and 1000 rupee notes were just dumped into rivers and drains and behind this scenario, crores of rupees which are converted into new notes went from banks secretly and the general public, we, just got 4000 rupees a week! Next time when the government plans something big, all these consequences should be predicted!

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.

Common people are being affected by demonetization as they have to be in line in front of ATMs, but most of them were happy as they know that this (demonetization) will be helpful for our country's development and rescue from crimes like terrorism etc. Black money holders have money in more than sufficient amount so they bribe bankers or by other means make it white. They do not face many problems doing this. Even if they lose some money, they don't be nervous as that money are not their own.

Demonetization is that type of words today that everyone knows very well. According to me its is a good decision but can get the output that the government Assumed. This causes increase the corruption and problem of middle-class people and poor people but can't affect the life of middle-class family. A lot of people standing on the outside of ATMs for money, they were standing in a long queue but can't get a money because the appropriate amount of money is not available in the ATMs but no one saw on that line any political leaders, rich people, celebrities, then how is this possible. Is there no need of money, no friends, they are rich people, they directly connected to bank manager to give him new notes on the radio of 80:20 but can't face any problem. It leads to corruption. Govt try to earn the black money from the black money holders but can't get. Most of the black money holders they pack the notes in a bag and they throw into the river, forest, etc but can't give to the government. At last but not least I say that govt take the decision good but can't fulfil all his needs that require.

We all have talked about the demonetization affect at the time of its implementation, but it been around 10 months from then.

It affects common people in terms of lower interest rates for the savings account as well as fixed deposits as most of their investments are in the form of fixed deposit.

Lower prices of land and buildings as the one didn't get the price what he or she wants for the assets sold.

Due to demonetization, most of the payments are through the digital medium, due to which people are facing security issues and are being the victim of online frauds.