Free Press Journal

Ujjain: Demonetisation spells trouble for many


Demonetisation has divided the society like nothing else at present. Many feel that the way it was implemented has caused nothing but trouble for many, while there are some who feel that the police as such could pay rich dividends in the long run. MANASVINI VYAS talks to a cross section of people in Ujjain to gauge their reactions.



Demonetisation has affected the Indian economy as a whole. The effect of this decision is felt by the students as well, especially by the outstation students who cannot withdraw money sent by their parents. Also, there have been reports of people exchanging Rs 1000 notes for lesser amount. Although the step taken by the NaMo government is not free from faults, it is crucial for solving the menace of black money. In spite of its defects, I believe the decision will be beneficial in the long run.



2Demonetisation of Rs 1000 and Rs 500 notes was nothing but a flop-show. The step towards curbing black money has failed in its entirety because people have come up with ways to convert their black money into white. And since the govt has already brought new IT reforms; there wasn’t any need for demonetisation. Plus, if the PM was so confident, then what was the need of frequent opinion polls.




Most of the wealth is accumulated with the 10% population of the country which is earned using both fair and unfair means. The black money earned does not reach the market, and the remaining 90% of the population face problems of unemployment, low level of income etc. Demonetisation, if implemented with utmost care, will solve the issue of income inequality. The step has also encouraged cashless transactions.




Demonetisation has spelt trouble not only for the students but also for their parents. Parents have faced problems in paying the fees to schools which do not accept cheque payments. Such a system created pressure on both the parents and students. Demonetisation has also been hard on wage labourers who rely on daily wages for their livelihood. The long waiting queues and the impatient behaviour of the crowd and the bank officers has also added to the common man’s problems




The demonetisation of Rs 1000 and Rs 500 notes is vital for fighting corruption and black money in the country. The bold step is aimed to create a better tomorrow and to benefit the nation. However, the shortcomings lie in its implementation. Issue of erroneous Rs 500 notes by the RBI in haste is a matter of concern. Also, there is no guarantee that the new Rs 2000 notes will not be counterfeited.  Thus, the government could have been a bit more careful in the implementation process.




The decision is meant for the benefit of the entire nation and not for the leaders of any particular political party. It tackles the problem of corruption, black money, terrorism, and counterfeiting currency altogether. The government is also trying that all the transactions are routed through banks. This will ensure fairness in the system and will prevent any further creation of black money.




Demonetisation has adversely affected the low income groups. The banking activities in our country are low and the poor people mostly rely on cash savings, thus they are the worst affected ones. Demonetisation has an impact on the business sector also, especially those businesses which profit a lot during the wedding season. The growth for this quarter is also expected to remain low and even the rupee will stand weak in the FOREX market.