Slowing Trade and Labour Earnings: Solutions
Per your inputs and print media reports, trade and employment is temporarily slowing due to cash crunch. For instance a shopkeeper in tier 2 town is seeing business reduced by 60-70% and the labour employed by them is seeing daily earnings take a hit.
With this post, we seek your inputs on what actions should be undertaken by Central Govt, State Govt and Local Administration to ensure revival of this at the earliest.
We look forward to your inputs! more
So after two months picture is still not clear. Whether the Demonetization have actually made any significant effect on trade or not. because as a Jaipur citizen I see every business in full swing, whether they are saloon shops, provisional store, Computer shops, eatable, Sweets shop. the only difference I am finding is that mode of payments are becoming more and more digital and that is desirable well. more
What is requied is to make all ATMs functional and limit for withdrawal should be increased to Rs.10000/- per transaction. This will reduce load on bank cashiers substantially and allow them to serve the clients better. Government should trust common man say with gross income up to Rs.5 lacs and do not put curbs on their accounts. This will reduce the problem to less than 5% of India's population. more
There is a wonderful saying "If there is a will, there is a way". Most of the state governments are not co-operating with the central, so, it is difficult to say. Here are some of the thoughts: 1. Don't keep on extending the exchange of old 500 & 1000 INR notes. 2. The old 500 & 1000 INR notes should be deposited in the banks only. 3. Remove the cap of withdrawal of amounts from the bank accounts per day via cash, ATM, etc. 4. All the ATMs have to be re-calibrated ASAP for the new 500 & 2000 INR notes. 5. Surplus stock of 100, new 500 & 2000 INRs note at RBI. 6. Shortest possible time for the transportation of cash. 7. Continuous top-up of notes at the ATMs. more
People had stood in the queue for Achche din since last 70 years!Generations have passed,many had dead and gone.Shri Narendra Modi had only reminded peoples dream of Achche din which could not come all the 7 decades.But people can see the real work for Achche din now been started.That is why,though the opposition shout at the top of their voice,people in the queue patiently wait for their turn to come.There is no complaint from the peoples side.Every person knows that operation of an affected body part is painful but the pain has to be endured to save the life! more
Had the RBI ready with new currency and sufficient small denomination notes perhaps common people would have really enjoyed the demonetisation of higher value notes. All the labour payments and purchase of daily needs would have been normal and the common people would not have been affected at all. Although the Government intention is good common people are really suffering for no fault. Modi sab infact should see the benaami properties and unaccounted huge quantity of yellow metal and high value stones &gems are put in order..... more