Tuesday, 6 December 2016

Dedemonetization of the Rupee notes 500 and 1000

Giving "poor"persons rights does not mean ruination of the economy. The Prime Minister introduced demonetization of the Indian currency. The 500 and 1000 Rupee notes are are of no value now. In their place new 2000 Rupee notes are now exchanged by the banks for 50 days(from November 9 till December 30). After that the old notes have no value. This was meant to end corruption and black market. But new markets are being created now. The banner of " for the poor people" is now adversely affecting the people. "Garib log" means the "poor people" but how can you categorize people like that? Farmers are given 25000 Rupees in their accounts so that they can buy seeds. But before this news reaches them the "sowing time" is over. Not all farmers have accounts and not all can demand their dues. What about other occupations? Workers, service-men--plumbers,electricians, masons, artisans,traders, push-cart vendors, rickshaw pullers and so many other skilled and semi-skilled person? Not all are having bank accounts. They are paid for their work in cash and now nobody can be paid as the old currency is no longer valid.
Equalizing  is not just possible just by snatching away money. The Prime Minister says that we are becoming a cashless economy, we are only becoming cashless beings.

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