The Never Ending Demonetization Tunnel! - Sushmita Malakar Blog

Wednesday, November 16, 2016

The Never Ending Demonetization Tunnel!

Yes, the move seemed like a genius move. I supported it too. But one week after the announcement, I realize that the move was again a hollow move.

Seeing Modiji's confidence, I was pretty sure that this is a plan - well mitigated plan. He must have taken into account the population on the country and the poor infrastructure and the long-term and short-term effect on the economy. But no, why did I fall for the trap!

The people who are effected by this move the most are not even clack money holders. The money they hold is hard earned money, kept at home to save some tax. But the inconvenience is way too big an amount to pay for not paying taxes on the hard earned money. And no, I am not talking about the long queues - though they are  there.

Even after standing in the queues, the bank's infrastructure are so smart that their teller machines just start giving up!

There has been a huge loss of livelihood - your local subziwala and many like him are suffering because of no money in the market. People are wasting productive hours just to get some of the cash in hand or save the li'l cash that could be saved. There has been loss of lives as well.

My only concern right now is where are we heading with something that is so good on paper and practically just hokum.

Do we have an infrastructure yet to become a cashless economy? We don't.

I still want to maintain that I am very suspicious about the leakage of the news to the ministers before the news became public.

The black money launderer's are not keeping money at home, are they? Hello Swiss Bank!

Private hospitals are acting like jerks. Sorry for the generalization, but I just want the PM to address these hospitals to please keep the needy out of this fiasco.

I support the decision but it came too soon - before having the infrastructure to implement that. Presently, the only thing that I can see is that the economy has come to a standstill. And to recover from this shock, it will take a great amount of time and efforts.


Author's Note
Just three words - Personal opinion alert! However, the economic implications might be good - which I support - I am still not able to understand that how come a decision of this level was taken without much mitigation strategies,

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2 comments:

Aseem Rastogi said...

I am sure that there are problems. And a move like this is bound to create problems. A lot of things should have been done in a better manner. But then again, there have been 3-4 lakh crores which seem to have already been deposited in banks. I personally know a lot of people who are running helter skelter because they don't seem to understand what to do with their lacs which have suddenly become nothing but waste paper overnight.

But again, a lot of people seem to be suffering in hospitals, foreigners suffering since they don't seem to be able to exchange their notes that easily and more. Sadly, one more problem in all this is the fact that different media houses are supporting their own political parties for their own agendas. So many a time I am personally confused on who to believe and what to believe. There's so much misinformation.

Just yesterday, I was reading an article about one guy who quoted something positive on demonitization to TOI and they had instead published something negative said by him which was the complete opposite. He then blasted TOI in a FB post.

Sushmita Malakar said...

Its such a pleasure to see you here Aseem!

And I agree with everything you said. Better manner - oh yes, I really thought that the announcement was done after they had everything in place - enough banks and ATMs, enough cash and enough patience - sadly none was there.


But rther than working on this, there are people politicizing the whole issue. I have no clue where we are heading.