November 8th 2016 never being thought of a day of Economical Transform, the day we always being known for the foundation day of probably the future of cashless Country. Rs. 500 and Rs. 1000 which are still lying with us are in no use now, strange you go to the market and try to buy anything that amount won't be accepted instead you can use cashless. One of the strong step which is ever needs to be taken by the Govt. to curb down the Illegal Currency, Black Money and Corruption of the Country. Such bold steps needs a courage was a need of the hour as well, just imagine peoples who're holding bunch of bundles of currencies now forced to exchange the money from the bank and post office to live the day to day life. Its not that this is the end of the story but in 50 days you can't change all of them. As already Finance Minister Mr. Arun Jaitley told to DD that this is not a immunity program for any corrupt because either bring the money back and face the consequences or burn it, that will also burn the glorious tomorrow as well whosoever believes to have one. This moment is more pleasant because there is no place of deadline, action was instant, fear for bad welcomes by good.
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But its not that there is no complexities in this decision there are huge of them. Commoners have to struggle to get new Rupees first. There are emergencies, plannings all has shaken up in one moment. People who're waiting for their goods to arrive via Courrier how they will pay ? Same with Domestic Retail Market as well. Consumer need Money to buy essential goods at the same time Seller needs Money as well to get a goods for selling. Important thing is that at this stage its not a time to hit a panic button but to stand together and help each other, indeed private market can't be trusted to consume old notes hence to protect people from long queues more Govt. Agencies needs to be assign for this task. Also to make sure that more small notes like Rs. 500 distributed in numbers rather then Rs. 2000. Now commoners will surely face a issue with Rs. 2000 to consume in small market, if indeed market go cashless then its a great moment otherwise with the popularity of bigger notes will increase the inflation as well. Consuming Rs. 2000 and getting change from will be difficult and small business groups always believes to keep the change.
Pic Source PMO (Prime Minister Office) to educate people
Industries which are named to be get impacted are Real Estate, Health and Education. Till now excessive of cash was full filling the industries need and unless demands are getting full filled prices have to be raise all the time. Changing the entire currency policy will obviously bring out the currency from everywhere and mostly trusts which runs Hospitals, Schools will bring out the old currency outside and then whatever they got they will use to spend from that only. It means any Cash Rich industry will not able to use the old currency and they have to go through the Banking procedure and have to register their entire bundles of money which is a one such way to tackle the out of control economy where someone got more and someone got very little. This vary step is a strike against Criminal and Terrorist Activities as well as most of the time we say that a Nation has to fight with the internal enemies first to destroy the outsider ones. Unless a country can't fix their internal issues they can't fix the outsiders as well. This step will indeed a hitch of many Anti Indian Activities which got hurt without even using any Gun and Bullets.
Pic Source RBI (Reserve Bank of India) to educate people
Its not that the entire process is quite easy but one thing for sure many have to be on long queues to collect new currencies. Lots of efforts, time, energy will be on the line lots of strategies needs to be made which can easily bypass the old currencies with new ones. As any commoner got only 50 days to have new currencies on hand. As I mentioned if ATMs start distributing Rs. 2000 straight a way then it will be quite difficult for the peoples to consume it, hence Govt. needs to work on small currencies very efficiently, there have to be a effort on all this as big amount comes in working then inflation have to get increase, if there is a need of increase in expenditure then distribution too needs to be take care of it, from hike in Salaries to Big Incentives which are still out of every youths equations. Infact today even Jobs are big priorities more then what peoples are actually expecting for. Its not easy for any youth to even search a good job without having any significant backup then how can we expect hike in expenditure despite of no savings in current scenario itself. Yes no doubt any good policy need time to get implemented as the policy have to fight from the system first to go live but if policy are reaching to end person then its a victory for those who were involved behind it.
Pic Source RBI (Reserve Bank of India) to educate people
Step is taken but the only thing is left is a success for the entire concept and only people behind the concept can make it possible as there will be a case of panic, malaise between peoples who has lots of bills to pay, lots of dues to clear at the month start such decision is really difficult, agencies should make sure not that there should not be any cash shortage and the flow remains continuous as time limits are short and a huge demand to fulfil, they also needs to be ready to fight against any spoilers which can create a crisis, at this moment its a time to bring back a confidence among peoples as we might be positive today but with failure in planning stage we might forced to criticise the entire cause as well. As I mentioned that peoples have to give their time, their energy on this particular moment, similarly peoples from Banking sector have to be give their double to match up the expectations. There will be joy, happiness whosoever gets a new currency in very first day, there might be a faces of dishearten and disbelieve as well from the entire concept. Overall moment need everyone's contribution and support and surely since India start walking towards the path of corruption free Country victory will be achieve one day for the better tomorrow.