Demonetization affected the common people rather than Black-money Holders.
In first demonetizing
seemed to be a very positive step taken towards corruption and black money
holders.It received praises from all sides but as days passed, it became
difficult for peoples to manage cash.A major chuck of cash is stored by peoples
as 500 and 1000 notes. Common people found it difficult standing in queue
outside the bank\ATM for notes exchange\ withdrawing money.
The
major attack of demonetization was on village people\small scale business such
as shopkeepers, vegetable vendors etc., the business claimed due to scare of
cash crunch.They are unaware of digital banking and POS system so it becomes
quite cumbersome for them.The poor who only earn enough to meet their needs
with a substantial amount of their saving stored in the demonetization of
Rs.500 and 1000.They usually earn and spend on a daily basis leaving very fewer
saving for emergency situation.
Their
earnings have certainly impacted as India has blocked 86% of the currency notes
in circulation,resulting in shortage with the majority of work force belonging
to the informal sector,currency Ban has hit them badly, For eg. Vegetables vendors, fruit sellers, flower
shops, small scale businessman which belong to small sector they don’t rely on
banking transactions rather dealing cash.With this BAN their has been
significant dip in the consumption resulting in their massive losses.Many
people standing outside the bank for notes exchange,find it difficult, ATM’s do
not have enough cash available. With fewer ATM’s peoples are seen in large
number standing outside the ATM’s while the politicians,black money holders , rich
people didn’t find it difficult.There is no dearth of money for them. On the
other hand where common people find it difficult to arrange marriages just due
to cash shortage.
Recent
reports of big fate of wedding of Nit in Gadkery’s daughter shows that it is
only the common people who are affected by note banned not the politicians and
the black money holders. Political Parties to have major amount of new currency
notes in the form of party fund as excuse while common people find it difficult
to meet the emergency situation such as medical, daily needs, no worry for high
class big politicians, businessman’s, industrialists. Government is still
saying to keep patience for people enough cash is available but only a meager
two thousand daily limit of cash can’t meet emergency requirements. How can you
expect village person to use digital banking system. They don’t even have
mobile phones, even if they had they don’t know about the use of banking
system. Many security loop holes have been reported from DBS such as Paytm and
other payment merchants.
Farmers
are finding it difficult to purchase seeds, fertilizers etc., they are helpless
small scale business are most affected by it. Even the govt. had not
anticipated this would happen after demonetization, it definitely rush into the
drive with no homework done, had there been stringent measures to keep money
laundering to check people wouldn’t been suffering from shortage of cash and
can Ten lakhs and crore of Rupees have been caught at the hands of political
leaders but the common people are still console in the name of DBS. A cashless
economy is less vulnerable to corruption but what about the current problem of
cash crunch and mismanagement that it has caused to the common people. Why only
common people are always treated badly? In order to serve the long term good
for the political parties it is not a democracy we are talking of.
How demonetization is affecting common people more than black money holders?
This
is one of the most debated topics today. Demonetization is an established
practice in monetary policy to tackle black money by Prime Minister
NarendraModi.
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 whole
day and facing problems because of the limit of withdrawal & insufficient
money. The effect of demonetization affects every people. But the severity of
this affects mostly the black money holders.
Common
people feel 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. 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.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.
At
the starting stage of this demonetization this was true because it seems like
common people are suffering from that decision. But as the time passes slowly
problems of common people are decreasing and black money holder’s 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.
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.
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.
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