DEMONETISATION-BEARING PAIN for others sin is the current scenario.The prime motive of demonetisation is to evade black money out of our economy.To be crisp,black money is non tax evaded income, and it is not easy to separate it from the country's economy just like attracting iron fillings using a magnet.The country's action was like
sucking the old notes using vacuum cleaner(without warning), but the reverse process of replacing them
was dead slow, which lead to huge ruckus in the ATM's and banks.The Central Government's attempt to curb
black money sent shock waves through the country's economic system.
This word demonetisation has made a huge impact from the common man to rich in different grades.For a common unskilled worker, it made him feel like a fool with useless cash notes in hand and for a rich it was a sudden full stop in his business and local transactions.To be in local terms its like a car running out of fuel, because cash transactions are the integral part of their daily trade.Though they are not as large as working class sector their contribution to the daily economy is large.The only impact of demonetisation is the reduced economic activity.
As P.A Chidambaram said "Modi had taken this decision unilaterly without holding decisions", now makes sense.Will demonetization truly curb the growth of the black economy? The Question is still unanswered.Uttarpradesh, one of leading agricultural state drowning post DeMonetization. They are selling potatos for 3 rupees 30 paises with nobody to buy. Nothing else can picturise the negative effect of demonetisation so clear.
