Akriti Bhatia, the co-Founder of Jan Ki Baat, spoke to the members present at the rally organized by Mr. Arvind Kejriwal protesting against PM Narendra Modis decision to demonetize the higher-denomination currency. Claiming that this move has adverse effects on their business, they wanted their requests addressed as quickly as possible so as to avoid any further loss of business. Dismissing the notion that demonetization was beneficial for all, one of the people present said that currently only the disadvantages of demonetization were visible, its negative effect reigning over many businessmen. Supplies being cancelled has been the major cause of their businesss decline and this cancellation is a direct result of demonetization.
The night of 8th November proved itself to be a surprise for the whole of India, with PM Narendra Modi announcing his governments issuance of a ban on two of the highest denomination Notes. The move, designed to delete the existence of black money and black economy, couldnt have been discussed as secrecy and confidentiality were required. The decision, for it hopes to fulfil, has met with sharp criticism from various segments of the society.
Concerns that people have voiced reflect the lack of planning in the demonetization policy- whether theyre temporary, as the government and RBI repeatedly assure us, or long-term, remains to be seen.