Sunday 8 January 2017

India is not a developed country like USA or Europe, so it was stupid to think it could be transformed from a mainly cash economy to a digital economy overnight
Demonetization was a harebrained idea which has caused immense suffering to thousands of labourers (many of whom became unemployed), farmers,traders,shopkeepers and other common men and women all over India
...One can understand demonetization of 1000 rupee notes in 1978. At that time the value of a 1000 rupee note was the value of 10,000 rupees today. Very few people then had even seen a 1000 rupee note.
But today the value of a 1000 rupee note is the value of about 200 rupees 6 or 7 years back, and the value of a 500 rupee note today is the value of about 100 rupees then. Today everyone has a 500 rupee note, as its worth has gone down drastically due to inflation. So the present demonetization badly hit the common man, and moreover it was done without any planning whatsoever.
And it is ridiculous to say that it will check corruption or black money. If corruption is checked ,how will our politicians fight elections, which nowadays require crores of rupees ?

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