Covering up the cashless Economy

With the scrapping away of 86% of the high denomination 1000 and 500 notes worth Rs. 15 trillion by PM Narendra Modi has brought to light a number of allegations against the NDA government claiming that it has “blocked” the money of the poor through currency ban to favor a “handful of industrialists”.

While this is the primary political issue being raised, there is no dearth of the perspectives one might have, with all sorts of debates coming up pertaining to various pros and cons of the move.  With Arun Jaitley offering excessively large discounts and attractive offers on digital transactions, some see the battle transforming its course from “scrapping away of the black money” to “digitizing the Era”. But this too has a number of hurdles coming into its way that include the inability of people to use digital payment modes due to illiteracy and poor penetration of internet services in rural areas. Consequently, a substantial number of people have formed allies with rebels raising voices for the fleeting cashless economy.

The politicians on the other hand who once seemed to be really laid back with the problems of the working class, the small businessmen, and the peasants, suddenly have become the sole bearers for understanding their problems and looks like they would go bananas to prove expedient the actions of the present government.

Various issues have also been raised regarding the poor implementation plans by the well behaved critics against the demonetization move, who clearly seem failed to understand that, a currency worth of 20 trillion could not be printed on one go unless the same has been gradually channelized into the markets.

One Undeniable fact underneath all the commotion that is going on is that Modi Ji is struggling with the economy and he would go to any extents to live up to the expectations of the people. Even the poorest of the people realize the exigency of the move that has been taken, the only problem lies with the cashless situation which by all means is curable and will subside once the government eases the withdrawal limits after 80% of remonetization. Whatever be the scenario, the long-term benefits of the move definitely seems to obfuscate the chaos and the petty accusations that are being made against the government without having any clear pieces of evidence of the same.

 

 

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Published by Jasmeet

A Marketing professional, hobbyist food blogger and a social media influencer. Loves to write and design.

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