It has been over a month now that the Modi government took controversial move in India’s recent financial history, of demonetising Rs 500 and Rs 1000 notes. The government’s decision, which literally shook the edifice of India’s economy and everyday lives, effectively cancelled 86 per cent of cash in circulation.
With cash ban, the prime minister tried to persuade ordinary Indians that it is will be beneficial for the country in the long run as rich tax evaders are forced to surrender hidden hordes and pay their fair share toward government spending.
The move, a massive gamble for the Centre, was designed to stifle corruption and tax evasion, and has an impact on workers in India’s vast and intricate informal economy — the small businesses, shops, drivers and countless other basic industries and services that employ more than 90 percent of Indian workers.
The note ban also gave the opposition an opportunity to attack on PM Modi, as it termed the demonetisation a “Modi-made disaster.” By claiming that over 100 people have died, they have accused the PM to attacking the economic system of the country to benefit the one per cent “super rich” who have private aircraft, flashy vehicles and big businesses. It said it has affected 99 per cent of people who are honest like farmers, labourers, small traders and middle-class who toil every day for the sake of the country and their lives.
Reddit users have shared their experiences in which they describe how they feel about the government’s demonetisaton move:
The move will bring down the GDP
A Machiavellian policy
Har bar, Modi sarkar
Demonetisation has nothing to do with black money
Rich don’t need to stand in queues
We as a society are ‘jugadoo’
Demonetisation has more twists than ‘saas-bahu’ serials
The government can pull anything over us in future too