the demonetisation pasaka
DEMONETISATION-the event which was an head turner one,received attention from all over the world.Being considered as one of the boldest step ever taken by any Central Government of India,announcing it sharply at 9 pm in the evening and making it effective from the very next morning.All ATMs closed and most of the public in an impasse.
It was lauded by one of the sections of society and discriminated by other section of society,rest were busy estimating what to do with themselves and their money.Our Hon'ble Prime Minister got very emotional while delivering his speech over demonetisation at the SAARC summit in Goa,asking for fifty days to bring the system back on the track.
Then came the most awaited two things- the elections and the budgets.
In election campaign note ban served as one of the prominent pillars of public invoking.It is being used as the trump card by the politicians.
Presently the after effects of demonetisation are not much favourable and positive for the economics of the country.most people who were working in the small factories have lost their jobs and gone home.Farmers who sold their freshly harvested grains have been not paid yet due to lack of cash.Report says that GDP has been reduced by 1%.Tata Motors net has plunged by 96% citing reasons of improper cash-flow.Birla group's has estimated a drop of 35% owing to minor effect of note-ban and major effects of the 'new entrant' who is offering free voice and mobile data services.Spicejet incured a loss of 24% because of same reason.
If we see these losses as whole then we will find that these were actually the expected effects of cash crunch bound to happen.
A lot of people view it according to their politically biased perspectives.As those who are in support of the ruling party are saying that this will be "very useful in the long run,it will help in bringing back the Black money".And those who are against it are seeing it as a disaster,a very wrong step taken by the government.And some the people have some other issues like-"only poor were standing in the line not the rich ones.Tell us from where they are getting money?"They asked this with a raised eyebrow.
Demonetisation is currently the burning topic of most of the debate competitions and youth parliaments.
Reforms need time to be implemented properly and it takes some time to show its effects on the system.Meanwhile it has given air to the fire of e-payments.Now shops have the slips like cards accepted displayed.One of my friend went shopping and she fell short of cash so she paid through her card.And the dilemma started when she started purchasing again -Ah! the blessings of credit cards.
It was lauded by one of the sections of society and discriminated by other section of society,rest were busy estimating what to do with themselves and their money.Our Hon'ble Prime Minister got very emotional while delivering his speech over demonetisation at the SAARC summit in Goa,asking for fifty days to bring the system back on the track.
Then came the most awaited two things- the elections and the budgets.
In election campaign note ban served as one of the prominent pillars of public invoking.It is being used as the trump card by the politicians.
Presently the after effects of demonetisation are not much favourable and positive for the economics of the country.most people who were working in the small factories have lost their jobs and gone home.Farmers who sold their freshly harvested grains have been not paid yet due to lack of cash.Report says that GDP has been reduced by 1%.Tata Motors net has plunged by 96% citing reasons of improper cash-flow.Birla group's has estimated a drop of 35% owing to minor effect of note-ban and major effects of the 'new entrant' who is offering free voice and mobile data services.Spicejet incured a loss of 24% because of same reason.
If we see these losses as whole then we will find that these were actually the expected effects of cash crunch bound to happen.
A lot of people view it according to their politically biased perspectives.As those who are in support of the ruling party are saying that this will be "very useful in the long run,it will help in bringing back the Black money".And those who are against it are seeing it as a disaster,a very wrong step taken by the government.And some the people have some other issues like-"only poor were standing in the line not the rich ones.Tell us from where they are getting money?"They asked this with a raised eyebrow.
Demonetisation is currently the burning topic of most of the debate competitions and youth parliaments.
Reforms need time to be implemented properly and it takes some time to show its effects on the system.Meanwhile it has given air to the fire of e-payments.Now shops have the slips like cards accepted displayed.One of my friend went shopping and she fell short of cash so she paid through her card.And the dilemma started when she started purchasing again -Ah! the blessings of credit cards.
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