Akriti Bhatia, the co-founder of Jan Ki Baat spoke to Nisha about the consequences of Demonetization. Nisha said that while she fully supports the governments decision of demonetization, due to its being ill-planned it has caused such criticism from the people. Such a measure creates a structure that takes time to get adjusted to, simply because of the nature of this phenomenon but had it been planned better, criticism wouldnt be so harsh and the adjustments couldve taken place smoothly.
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, had met with criticism from various segments of the society as well.
Concerns that people have voiced reflect the lack of planning in the demonetization policy- whether theyre temporary, as the government and RBI repeatedly assures us, or long-term, remains to be seen.