The Demon of Demonetisation.
People are definitely facing immense inconvenience in the face of this currency crisis (lets call it CC).Most of the people who are facing the heat are either the rich who did not bother to have a backup in form of legitimate money and non paper assets; and the Very Poor - who could not open a bank account due to various reasons.
These reasons were their lack of ID proof, not willing to lose a day's wages in going to open account etc.
But mostly it is the sniggering attitude towards the government announcements and policies.
The previous governments have made us have that attitude- because they ever used to mean what they say.
NOW... to all the readers of this piece , I ask one thing!
We the people, are aspiring to be like the residents of developed countries in terms of latest mobiles, cars, branded clothes, Single Malt Whiskey's etc. But what mediocrity we are steeped in that most of these luxuries are paid for in cash, otherwise how is it that in NCR the number of cars are more than the Income tax payees. If you are on New York airport , you cannot buy a cup of coffee with cash.
Start from morning....You consume breakfast for which you can pay by bank transfer from mobile to the friendly neighbourhood "poor" vendor. He can pay back to his dealer the same way who can pay back upwards. Next comes your taxi- which too is paid in Uber or Ola money.
I remember the movie called Police Academy II. Eddie Murphy asks the local Police Chief- " Do you have a $20 bill ". Chief replies " I'm a married man with 2 children in college, haven't seen a $20 bill in 5 years.
This is of course a joke. But on reason why inflation is going up in India and making things expensive is too much loose money chasing too few goods and services. As a result the supplier of those goods and services controls the price. Just watch in a ffew days how restaurants offer happy hours and Car mfrs offer discounts.
Why do you think toothpastes and edible oils in the supermarkets are cheaper than the neighbourhood Lala?
It was always the middle class who paid their taxes and took the government announcements seriously- both the other classes ignored the country and are now paying for it.
Even if we undergo a small operation on the toe it is painful.This is a major operation of the entire nation. The people who are guilty are most quiet.Once again it is the vigilant and upright middle class that is speaking out.But they are being wrongly fed with incorrect information.
By the virtue of Demonetisation of this currency , the government (or RBI to be specific) will be able to bring or inject all those cash notes that were not in the banking system back into the system. This will enable money is available to only those to whom it rightly belongs.
It is so very fascinating to see that the premium that you paid for your second apartment,and extra money you paid wrongfully to get certain goods and services will be removed from the system-automatically.
For once the government is ahead of the unscrupulous elements.
Don't you remember seeing your neighbors in government services getting new cars, ipads,house facelift, furnishings and expensive gadgets just before the month of March ended.
That was all your money which will come back to you- but indirectly.
Please stand up to face the hardship, after this a lot will change... and most of it will be for your good..
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