Sunday , February 18 2018
Home / Business / Currency Recall of 1000 and 500 Rupees Note and its Impact on Ordinary Indian

Currency Recall of 1000 and 500 Rupees Note and its Impact on Ordinary Indian

Vidya Bhushan Rawat

The first impact of the demonetization of Rs 500 and Rs 1000 was felt by many of us who had to go to VSF for visa services. A large number of people who came from nearby states were forced out if they did not have cash in One hundred rupees notes. We requested them that credit or debit cards could be used or even ready to pay local cheque the security staff did not allow people.

At the end of the day, came back without applying for it. We know, it is difficult times ahead. We know it is not easy to get even one hundred rupees notes from the bank from tomorrow onwards. The crisis is going to be much larger and bigger.Now we all have to declare our own money in the bank. The government came to power on the promise of ending licence permit Raj but it seems that days of Inspector Raj are back.

currency-recall

Ironically, who are appreciating it. All those who are super rich and cant be that without illicit money. Interestingly, our super performing Finance Minister has not opened his mouth. Why ? Was this decision without FM’s consent or Pm wanted to get the credit..

None question the need to curb black money but why to tax and humiliate the common people. How many of Indians use credit or debit cards for transactions. Why do we want to kill the common subziwalllah, rag pickers, chai wallah, wage workers. It is they who will find it difficult to get their money back. Middle classes may have some troubles for a few days but they will get their money but very disturbing and difficult times for the poor.

One blackmailing anchor said that those who dont have illegal wealth should not worry. It is not the question of worry.. Ramdev is happy. So is Amitabh Bachchan and all the cricketers who cant live without black money. It is the poor who arrange money for marriages, for various ailments, for going here and there, to invest in non banking sectors which are easier for them to get credit, will find things more difficult. Many might have lost their dreams too.

The process could have streamlined. If you wanted to curb black money saying big notes are risky then why bringing Rs 2000/- note. .It has to be understood that both Rs 500 and Rs 1000 are commonly used by people. With high rate of inflation, these notes mean nothing. If you travel outside or go to buy something, you dont know when your pocket is emptied.

we hope the process of exchanging notes will not be cumbersome. Let it be easier. Secondly government must ensure that there no liquidity crisis as this is marriage season and festivities have yet not finished completely.

Stock Market has already tumbled.. may be ‘good news’ from US can push it further to tank. Difficult days are ahead. Democracy endangered by the people who are elected democratically. Real threatening time ahead.

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