On the eve of 8th Nov 16 PM of India declared that 500 and 1000 RS old notes will be of no value from next day onwards and he gave details how the transformation will take place.
Good Move, Good Intention but BAD TIMING? WHY
Festive Season: Most of the middle class and other people would be doing shopping with cash payment and I suppose they don’t want to carry heavier load of notes with them. How are they suppose to shop?
Marriage Season: Same as applicable above.
Daily wage workers: How are they going to survive with they getting 500 rs notes from their contractor?
TOLL TAX PLAZA: There was a HAVOC on road TOLL plaza as they were not accepting the 500 or 1000 rs notes. BIG line and suddenly the Transport dept came up with an Idea of letting them go for free for 48 hours. What about the loss of revenue due to this?
Medical Emergency: This is India, if you spread a fear of not accepting the certain currency notes without knowing th exact details they will blindly say no and there is one case happened in UP pregnancy case. The sufferer a lady.
MOST IMPORTANT: elections in 5 states next year.
ALL the political parties will suffer due to this.
I am not an expert in economy. People say in the long term it will benefit INDIA and tax payer. PM said there will be temporary hardship for the citizens of India. I saw in last two days hardship for only middle class and below people. There was no rich people standing in QUE of ATM or BANK and many other things which I can quote.
One of the many promises of bringing back BLACK money from outside in INDIA is still pending……. Haters will hate him and followers will follow him. But how will the rational brain treat him is a question?