Vox Populi: Demonetization Hit Common People, Helped Big Businessmen

New Currency Note of Rs 2000, 500 and 200. (Photo – Sify.com)

Ghazanfar Abbas | Caravan Daily

NEW DELHI — On the second anniversary of demonetisation, it is not only politicians who are targeting the Narendra Modi government, common people are also speaking strongly against the decision taken on 8th November 2016.

“Demonetisation brought losses to us. Only government and big businessmen like Vijay Mallya, Nirav Modi got benefited. Instead of the government bringing black money from abroad, they left the country with money,” says a vehicle mechanic.

Talking to Caravan Daily, the mechanic, who identified himself as Faheem, said: “Unemployment has increased more than before. Corruption has increased more. And government knows it very well about the situation the country is going through.”

“Everybody who is suffering will say this except the followers of BJP and RSS. This government has ruined the country and only creating rift between Hindus and Muslims,” he further said.

Bharat Kaushik, a sweet shop owner, echoes Faheem on black money issue: “Even due to this Rs 2000/- note (the new note brought in place of the demonetised Rs 1000 note), the black money generation will increase more. We know how banks did corruption by changing old currency note with new ones. There is no solution to curb black money.”

Kaushik further counts the problem of Rs 2000 note. “Besides the problems we and other people faced after thenote ban, the problem which people are still facing is Rs 2000/- note. To get change of this note is still difficult. People anyhow accepted the note ban, stood in long queue but today every person is cursing the PM for this 2000/- rupee note. Rs 1000/- should have been continued.”

Law research scholar Mujtaba Athar says all the top three aims given by the government while demonetizing the old notes remain unfulfilled.

“Modi ji said that demonetisation will curb black money, corruption and stop terrorism. But nothing happened. Then the government said that they wanted to make the economy cashless under digital India program through this demonetisation. Black money of other political parties might have curbed but everybody knows that BJP got made its biggest headquarters which Congress could not make even in 70 years,” said Akhtar.

“RBI report itself proved that the demonetisation has completely failed. It has benefited corporates like Adani, Ambani. Economy of the country has been crushed. Youths are still facing job crunch,” he said.


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