EditorialSanctum

Common man demonetised

Suffering of the common man has not come down even after 45 days of demonetization. Continued long queues in front of ATMs, no cash in ATMs, non-arrival of new Rs. 500 notes even in cities and towns, restrictions on cash withdrawal to less than 24k by many banks for want of cash are one side of the coin. On the other side, some have already accumulated new currency notes, mainly of Rs. 2000, worth crores of rupees through corrupt means. This process made staff of banks and IT department busy since then. It also led to loss of many man days and affected farming and construction activities, as either people do not have money in hand or not getting change for higher denomination notes.  Although demonetization has resulted in nabbing some people having black money, it is nothing when compared to the suffering of common man. With proper planning and adequate preventive measures, this problem should have been reduced in terms of time spent in long queues and shortage of enough currency notes.  One good effect of it is prevention of riots to certain extent at many places in the country as there was no money to support antisocial elements and gold in large quantities (hundreds of kilos from individuals) and crores of worth new notes are being unearthed. Although a majority of the public welcome it as it may reduce the corruption level in the country, due to the hardship they are facing now for want of money in smaller denominations like Rs. 50 and 100 and their inability to draw the amount of their own money, they are forced to talk against demonetization!

 Dr S V N Vijayendra, Mysuru

 

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