Demonetisation: Here's why Modi should have looked before he took the leap
Advertisement
Advertisement
Queuing up at an ATM and waiting for your turn isn’t something to get pissed about. Standing in a queue is how democracy works. But when you have waited for half an hour behind 20 odd people, and found the ATM screen displaying ‘No Cash’ the moment you entered the cubicle, would make Ever since Modi’s policy on demonetization has been announced, normal life has been paralysed. The earlier reform moves might have been criticized by the political parties, but this is the first time ever, Modi’s decision has hit the common masses directly. The decision to ban Rs 500 and Rs 1000 notes have disrupted businesses, offices like never before. Earlier any shop would search for excuses to refuse change of Rs 500 when you buy stuff for Rs 200 or less. And now they have a legal excuse. Visit a government office other than bank or post office in a suburban town in any state, employees have found a new excuse of bunking office. They are justifying their absence for 3 hours by saying, they don’t have money so needed to visit bank and stand in queue.
Well, you might say that these all can be ignored for greater good. But as reported by an esteemed regional newspaper in Bengal, businessmen with black money are paying jobless youths Rs 300 to stand on queue and exchange money. The only qualification required is having a bank account. So black money can be whitewashed.
It’s easy for people with an ATM or debit card and a Smartphone to justify the move. Social media is exploding with Ola and Uber drivers ‘sacrificing’ for the country, but what the netizens are forgetting is a driver partner with any of the app based cab service is well off than many people. They earn better than many freshers.
While the Prime Minister
Advertisement
Delivery pain of a new born is suffered by its mother. But when a nation-changing revolutionary step is taken, unfortunately the pain is seeping down to the ever-suffering people who don’t own ATM card, smartphone and in worst cases bank accounts. Two-third of India’s population doesn’t know what Grofers means or what Cash on Delivery is. Even urban population has people who have never been to ATM. It’s not that they can’t but illiteracy is largely responsible for it. In remote villages of
It’s assumed that the reform doesn’t end here. The next step would be making all transactions cashless i.e. card, e-wallet and cheque payment. For us, who live in big cities, flaunt coupons to buy pizzas and Promo codes to book cabs, life wouldn’t change much. But for the migrating labour coming from Bihar to work in Delhi NCR, the migrating maid from
For beginning a new journey,
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- Unemployment among Indian youth is high, but it is transient: RBI MPC member
- Private Equity Investments
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market