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Udupi: A year since demonetisation, opinion among people divided

Daijiworld Media Network - Udupi (HB/SP)

Udupi, Nov 8: On the first anniversary of demonetisation exercise undertaken by BJP government at the centre, there have been tall claims of its success, while opponents of the measure term it as total failure. Daijiworld decided to meet some people and gather their opinions about this measure.

Pramod Madhwaraj, district in-charge minister, says that when the measure was announced, he had said that it would take sometime before its affect is revealed. "I had expected income of the people to fall because of this measure. People who draw monthly pay are not hit but daily wagers without any other income have been hard hit. Other than the income of Jay Amit Shah, income of no other person would have shown an increase, in my opinion. Personally I am facing problems because of this measure, and it has adversely affected and my business," he stated.

Jay David Soans, a watchman, said that he did not feel any difference because of note ban. He concurred that initially there were certain problems till the currency notes of Rs 2000 value were released. "But the problems were minimal. I see that some people claim that they suffered on account of note ban but I did not suffer. At the same time, that measure I feel, has not brought any benefits too," he explained.

President of district Chamber of Commerce, Krishnaraj Kodancha, said that this is not an issue of note ban. "Perhaps thieves, fake currency manufacturers, and people who do not pay tax and accumulate money without showing it as income, would have faced problems. Honest businessmen have not faced too many problems in my opinion. Because of note ban, new accounts were opened, and the old accounts got refreshed. Such schemes should be brought into force now and then, like small jerks experienced by vehicles. After the jerk, the dealings move on smoothly, as per my notion. It was done for the general welfare of common people. I came to know about it during my Nepal tour, and I feel such measures are perhaps taken on the basis of intelligence inputs," he stated. He felt that people should be ready to face some problems for the creation of a better society in the future. "It is impossible to achieve cashless and corruption-free India completely," he adds.

Taxi owner, Manohar Shetty, said that taxi owners have not faced any problems out of demonetisation and people have cooperated by giving small denomination notes. He feels that it is impossible to make all transactions cashless. "I feel that this measure will prove beneficial, and I feel that in course of time, the motive of cash less society also might be achieved. The government had given enough time for exchange of old notes. We did not have problems in exchanging notes through banks," he said.

A shop owner, Tusha B kanchan, concurs that merchants faced lot of problems because of this exercise and there has been a decline in money i the hands of the bank. "Business has come down. It is impossible to bring cashless transactions into practice. Several poor family do not have anyinformation about it. So far, there has not been much progress in creating a corruption-free society. We may have to wait for some time. I hope that positive changes will come in due course," he stated.

Street vendor, Manjunath, feels that there was not much problem on his business because of note ban exercise. He agreed that there was some problem initially, but it had minimum impact. Business continues as usual. Perhaps, the central government has been bringing out these measures to improve financial situation. With note ban exercise, Narendra Modi had revolutionized the country. I am sure more such measures will be brought about. I wait for them, he said.

President of district consumers welfare forum here,Walter Saldanha, said that as far as the forum is concerned, cashless initiatives and note bank exercise have created multifarious problems. "Business has been halved . Prices of basic things have shot up. There is a crash in transactions and only half of our old customers are visiting us. "Cashless transactions concept is not popular in India. Chances of it gaining foothold is less. People want to deal in cash. No one knows the main purpose for which note ban was done. There does not seem to be any link between demonetisation exercise and cashless transactions," he feels.

President of district Congress election campaign committee, Amruth Shenoy, says that when note ban was brought about, about Rs 16 lac crore was in circulation, and as per their early estimate 50 percent of it would be black money. "They thought that the balance money can be printed and the government coffers would become rich. They tried to explain the measure as having been done to control naxal activities, to encourage digital India concept and cashless economy, control terrorism etc. After two months they had allowed for exchange of notes, they have not revealed the actual black money they could find. 98 percent of money in circulation has come back to the government. Killing of soldiers from across the border has not come down. All classes of industries faced losses. People were afraid to buy property. Government too has not revealed the benefits it reaped out of this measure. In election rallies, Modi gave several assurances, but none of them were met. They orchestrated attacks on dalits and ban on beef. All these are failures of the government. They tried to bring in a big revolution but failed miserably. I want to know from them how will they fill loss of lives because of these measures," he questions.

Economist and columnist, Jayadev Prasad Moleyar, when agreeing that the concept was good, added that he did not find any immediate benefit out of it. As soon as black money is controlled, it stops flowing into economy, and therefore, automatically, business will suffer. We have to look a positive and long term changes that these policies will bring about. Everyone knows that it takes time to see the impact. There is no need to lose heart. "It will prove good for the economy as a whole. Proper implementation of a policy is important. This is a huge process, nor normal. Such a measure was unheard of in the past. Particularly they are difficult to be implemented in countries like India. I feel thinking and plan of action was insufficient and therefore expected benefit could not be reaped. But we cannot leave the measures now. What steps we take next gain significance. All developing nations have taken such measures to stop illegal, fake currency and black money. The aim was good and therefore benefits will be there. People should check honesty of purpose and benefit accruing to the country, not selfish aim," he stressed.

In spite of which government is in office, this was a right measure for achieving financial development. It should have been undertaken in the past, but has happened at least now. It is a long-term process. Cashless transactions can be seen to have gained popularity. Black money has a strong presence n our country. We have about 40 to 50 percent black economy. Black money has definitely been blocked in the market, and therefore,business has suffered. This is natural and expected. If the policies are properly implemented, India will surely show," he felt.

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Comment on this article

  • Af,,, Mangalore

    Thu, Nov 9 2017

    The peoples problem is they forget very fast, during the note ban how much people suffered going to bank standing in que day and night, roaming around ATM to ATM for 2000 rupeee, and if get also struggling for change, No money to pay daily and monthly expenses, banks are not accepting more money visit next day for depositing some cash,,bring photo copy ,adhaar,pan number all harasment, sick people, old senior citizes,pregnet woman standing in quees,
    Now our people comportable and started telling we do not have any problems,

    DisAgree [2] Agree [7] Reply Report Abuse

  • Robert Pais, Mangalore

    Thu, Nov 9 2017

    To me it is plain and simple : use demonetization and GST to go after the enemy.
    Common man of this country is collateral damage.
    This kinda tactic is used even in Turkey , Russia, Philippines, Zimbabwe and recently in Saudi Arabia.

    I am not convinced that these two measures have benefitted common man.
    True , Dr. Manmohan Singh is not a good orator. Infact he is not a politician.
    Conversely Jaitely is a Lawyer. Modi is a good orator.
    Oratory skills can fetch votes. We are yet to see good governance by the present regime.

    DisAgree [2] Agree [9] Reply Report Abuse

  • readerwriter007, pune

    Thu, Nov 9 2017

    it was one of the major step against the black money and hence you see lot of opposes from opposition and all leaders who are famous for scandals... it shows the truth. We the common people didn't have any impact and happy going. All stupid reasons are published by all these black money holders with the name of a common man. that's it. but a massive step by Modi and his team against the block money.

    DisAgree [8] Agree [6] Reply Report Abuse

  • Dinesh, Dubai

    Thu, Nov 9 2017


    DisAgree [13] Agree [10] Reply Report Abuse

  • RK, mangalore

    Thu, Nov 9 2017

    Unfortunately most of us helped (forced) Black Money hoarders by depositing their black money to bank in our Name or some other way.

    DisAgree [5] Agree [5] Reply Report Abuse

  • Daniel, Mangalore

    Thu, Nov 9 2017

    olagina guttu Shivanae balla!!!!!
    ella partinvrrooo onde kas kas n cash

    DisAgree [1] Agree [6] Reply Report Abuse

  • S. M. Nawaz Kukkikatte, Dubai

    Thu, Nov 9 2017

    But truth fact is BJPians and their funding corporator get more and more benefits in demonitization.

    DisAgree [7] Agree [12] Reply Report Abuse

  • vibha, Mangaluru

    Thu, Nov 9 2017

    initial difficulties may have been there.
    but outside business does not show it now.
    see the crowd in liquor shops and even gold shops !
    Unemployment ? where are people for jobs ?
    even after advertising in newspaper- it is difficult to get suitable people for job..

    DisAgree [2] Agree [13] Reply Report Abuse

  • sajan, Trichur/Delhi

    Thu, Nov 9 2017

    Its time to think rationally, focusing on the future generation. Lets wake up and work towards building a strong Nation of the people, by the people and for the people without any cast, creed or religion.

    DisAgree Agree [11] Reply Report Abuse

  • Robert Pais, Mangalore

    Thu, Nov 9 2017

    Which is better?
    People loosing their lively hood , their children going hungry, pensioners unable to buy medicines, small business wiped out... The list goes on- to catch political enemies? Any government that tramples the poor , how can this be progress ? Progress for the blind followers who are in awe!!?

    Let's see the argument that black money (earned but taxes not paid) hurting the economy. Which economy? If black money ( numbers game) has come back to the government, why heavy taxes ? Why poor implementation of GST?
    Why torture honest sincere businesses?
    Why high prices on fuel when crude oil prices are all time low?

    DisAgree [11] Agree [24] Reply Report Abuse

  • vincent rodrigues, Katapadi/Bangalore

    Thu, Nov 9 2017

    If the support is on party base,then the results are always misguiding

    DisAgree [1] Agree [15] Reply Report Abuse

  • Jossey Saldanha, Mangalore

    Thu, Nov 9 2017

    Demonitization converted all Black Money into White 😁😂😂

    DisAgree [11] Agree [30] Reply Report Abuse

  • Alwyn, Mangalore

    Thu, Nov 9 2017

    Poor Indians will always dreamlike beggar becoming King. Modi fooled all in the same way, but he became King in all aspects. Using AIR_INDIA for the world tour, BMW to roam around, 28 maids to cook, 12 maids to clean him, 24 Security guards, etc.

    DisAgree [10] Agree [20] Reply Report Abuse

  • Navin, Kundapur

    Wed, Nov 8 2017

    Demonetization is a solid slap to the Indian economy and the people..
    Big game they played in UP election to gain power Yadav family could not use their unaccounted amount for the election campaign. But Amit shah fooled Yadev family by using fake EVM and tie up with bank by using new currency in that also he earned percentage (old to new) or you can say black to white for common people there was no money in ATM’s, very difficult to get money from ATM scene was very bad if it get also poor people holding one 2000 running for the change

    DisAgree [11] Agree [38] Reply Report Abuse

  • Rahil, MANGALORE

    Wed, Nov 8 2017

    Demonetisation measure was with good intent but due to the poor implementation and frequent change in goal post created a mess.It really broke the high growth trajectory of Indian economy. Another problem is created by poor implementation of GST .Actually GST is a good measure it should have been at lower and fewer rates .apeople hesitant to do business due the atmosphere of uncertainty prevailing.Further black money is also hoarded in real estate gold and offshore locations .Even if the govt tried to go for zero tolerance towards corruption the tax department is not equipped with necessary manpower to scrutinize all the transactions further cost of appointment of income tax personnel outweigh the benefits.

    DisAgree [5] Agree [17] Reply Report Abuse

  • Joseph F. Gonsalves, Bannur, Puttur / Mangalore

    Wed, Nov 8 2017

    The day on which Chaaiwaala took charge of Indian Government on 26th May 2014 there was a Railway Accident in U.P., and more or less 50 people have died. R.I.P

    In the exchange of notes from the banks more or less 150 innocent people have died. R.I.P



    With the demonetisation:
    Jobs are lost like not ever before.
    Small-scale Industries are closed.
    Almost all vegetable prices are increased.
    Poor and Middle-class people are suffering.
    Prices are increased for every commodity in the market.
    Crude Oil Prices are lowest in the I.N.M. In India Petrol prices are highest.
    Yet the suit-boot relentlessly wandering in foreign countries in the site seeing mood.

    DisAgree [18] Agree [51] Reply Report Abuse

  • P. Shirish kumar, Mangalore

    Thu, Nov 9 2017

    You brain hit by 2014 election 44 seats sill not rcovered

    DisAgree [19] Agree [12] Reply Report Abuse

  • Joseph F. Gonsalves, Bannur, Puttur / Mangalore

    Thu, Nov 9 2017

    All blind literature and illiterates blindly voted to Chaaiwaala have made u-turn and joined congress.

    Therefore my advice to you to vote to the human's government and not to cow 🐮 gobernment.

    In the interest of the nation congress is is vulnerable.

    See in Karnataka no church ⛪ attacks, no home 🏠 stay attacks, no pub attacks.

    Everything is peaceful and bhagyave bhagya to the Karnataka people.

    DisAgree [9] Agree [20] Reply Report Abuse

  • Joseph F. Gonsalves, Mangalore

    Wed, Nov 8 2017

    v. need cash. v don't have cash becoz no job. demonetisation is a blunder, plunder from sikander.

    DisAgree [15] Agree [45] Reply Report Abuse

  • N.M, Mangalore

    Wed, Nov 8 2017

    As per search survey conducted by the All India Manufacturers’ Organisation (AIMO),which represents over 3 lakh micro, small scale, and medium and large scale industries engaged in manufacturing and export activities.

    1.Medium and large scale industries, including foreign companies, engaged in export-oriented activities reported 30 per cent job losses and 40 per cent revenue fall. This is likely to be 35 per cent and 45 per cent, respectively, by March.
    2.In the manufacturing sector, medium and large scale industries reported the least job-losses in the first 34 days (5%) and took a revenue hit of 20 per cent. This dip is likely to be 15 per cent for both by March.
    3.Medium and large scale industries engaged in infrastructure projects, such as big-ticket road construction, reported a 35 per cent cut in employment and 45 per cent revenue loss. The number of jobs and revenue are expected to dip by 40 per cent by March.

    DisAgree [4] Agree [27] Reply Report Abuse

  • N.M, Mangalore

    Wed, Nov 8 2017

    The fact is the Demonetization is a disaster. The goal of invalidating black money stored as cash was never to be met, as 99 percent of all banknotes have been accounted for by the RBI.

    The Centre for Monitoring Indian Economy (CMIE) estimated that by April 2017, the number of non-agricultural daily wage earners fell by 5 million, while the number of agricultural laborers fell by 5.6 million. Small businesses have failed in finding access to capital, putting many out of business. The FMCG, Manufacturing, export sector declined by over 1.5 percent, and corporate credit growth has reached a 30 year low.

    DisAgree [6] Agree [16] Reply Report Abuse

  • Roshan, Mangaluru

    Wed, Nov 8 2017

    Common People related DeMo only with deposits and withdrawals from bank. After 2 months of irritations, nobody will today say it is still bad. It is forgotten.

    The objective of DeMo was to make atleast 3.00lakh crore which Modi expected as black money to get burned. Has it burned? Answer is big No. Is there a cost for this bad game? Yes, tax payers will be paying nothing less than 50K crore for minting new currency and logistics associated with it. Does the common man knows about it ? The answer is again NO.

    So, the DeMo out come is even after sufferings, pain, losses, there is no gain at all. Further, we all have to shoulder to accept tax burden of 50k crore. Maybe the people who are happy with such thing, each of them must be made to pay 1000times.

    DisAgree [6] Agree [24] Reply Report Abuse

  • santhu, Mumbai/Udupi

    Wed, Nov 8 2017

    Short term inconvenience is better than an long term accountable future. Don't forget you are living in a country which is democratic and having world's second largest population. Issues are inevitable. Thumbs up to government.

    DisAgree [51] Agree [17] Reply Report Abuse

  • NAGESH NAYAK, Mangalore

    Wed, Nov 8 2017


    DisAgree [21] Agree [4] Reply Report Abuse

  • mahesh, Mangalore

    Wed, Nov 8 2017

    Only people dealing with cash had problems..time to reduce cash in your business.

    DisAgree [52] Agree [18] Reply Report Abuse

  • David Pais, Mangalore

    Wed, Nov 8 2017

    time 2 dismantle modified cow govt.

    DisAgree [10] Agree [38] Reply Report Abuse

  • Jamal, Bajpe

    Thu, Nov 9 2017

    Better u mind ur business.... bakth spotted

    DisAgree [5] Agree [6] Reply Report Abuse

  • mahesh, Mangalore

    Thu, Nov 9 2017

    At 44 seats, pappu doesn't have much options,isnt it?
    Bjp is going to win Gujarat and himachal.
    Congress though is coming back in Karnataka,not due to pappu,but due to siddu...

    DisAgree [1] Agree [2] Reply Report Abuse

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