Sunday, 26 August 2018

[Archive Blog (09/11/2016)] What a Rs. 500 and Rs. 1000 to bowled out Black Money !!

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.

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.