Yes, Indeed it was a great step. But it was badly implemented.
Have you seen any rich and affluent in the queue outside banks ?
Is there any news about any politician dying in hospitals because doctors refused to give him treatment without money ?
As promised how many ATM near you are working ?
What is the guarantee that people won't pile up black money of Rs.2,000 notes ?
Mr. PM just said the people who are standing in the queue are representatives of scammers. Please correct your facts, sir. That was the most inhuman sentence that I ever heard.
What about the black money in form of Gold. People who had black money in form of gold actually became rich.
I want to share few cases around me :
Mr. PM just said the people who are standing in the queue are representatives of scammers. Please correct your facts, sir. That was the most inhuman sentence that I ever heard.
What about the black money in form of Gold. People who had black money in form of gold actually became rich.
I want to share few cases around me :
Case 1
I have a friend in Ludhiana. He is running a small garments shop. He makes Rs.30,000-40,000 a month. He is really hard working. At the age of 15, he was working as a helper in the nearby shop. Now he owns a house. A few days back he sold his house to buy a shop. The buyer insisted on paying part of payment in cash. Now he is having Rs.30 lac in cash. There are thousands of people like him who lost their house /shop.
Case 2
Jewelers of Ludhiana are insanely rich. Yesterday a jeweler who had Rs.84 Cr in cash paid Rs. 3 Cr as a bribe and paid 50% tax.
Now people are paying a bribe in white. That's what Narendra Modi expected us to do.
Case 3
Watchman of my society doesn't have any identity proof. He tried a lot to make an identity proof but unable to do so. He makes Rs.15000 a month by getting salary as a watchman and washing cars in the morning. Now he is having Rs.40,000 in cash. That's his hard earned money. He wanted to open an account but unable to do so.
He gave Rs.15,000 to my brother to get new notes. Everybody is helpless.
Short-Term Impact
- Small and mediums are shut down from last 3 days.
- Low liquidity in the economy
- Banking services are highly impacted
- Post offices aren't working, I tried to make speed posts from 3 post offices, all refused.
- People aren't having money at all so they are making limited purchases.
- Construction and factory workers aren't getting work.
- Every political party has corrupt leaders. This time BJP leaders made a lot of money.
Long term impact
- Black money hoarders learned a lesson. Now they won't trust currency notes. They will collect gold.
- The government will have a lot of money for infrastructure development.
- BJP leaders have a lot of money for upcoming elections but the damage has been done. AAP and Congress will get advantage from this step.
Conclusion
Yes, I having patience but I am surviving on Rs.300 from last 4 days. ATMs aren't working and I can't wait in the queue because my students are having exams. Now Finance Minister said it will take at least 3-4 weeks to fix everything.
Many of you might not agree with my point of views, share your views in the comments section. If your views are factual and logically correct then I will replace my article with yours.
